Montréal, June 28, 2019 – The business community and cleantech industry are grieving the recent loss of Enerkem co-founder and executive chairman Vincent Chornet following a long illness.
Widely recognized in the industry for his innovative vision for smart waste management and the production of biofuels and renewable chemicals, Vincent Chornet took the company he co-founded in 2000 from start-up to international leader. In addition to its plant in Edmonton, Alberta, and its biorefinery project in Varennes, Québec, Enerkem is managing projects around the world, including the Netherlands, China, Spain and the United States. Many of these achievements are directly attributable to the tireless work and determination of Vincent Chornet.
Key players in the field, including Cycle Capital Management, Écotech Québec, Fonds de solidarité FTQ and Fondaction, shared a heartfelt tribute to Vincent Chornet:
“We were greatly saddened to learn of Vincent's passing. As an investor, we were fortunate to have had the opportunity to work closely with this visionary entrepreneur and to witness first hand his unwavering determination and exceptional resilience, but most of all, his incomparable humanity. His has left an immense legacy at Enerkem, which he took to the commercialization stage. He is also a great inspiration for many entrepreneurs and within the Québec, Canadian and international cleantech ecosystem.”
Andrée-Lise Méthot, Founder and Managing Partner, Cycle Capital Management
“Through his mobilizing force, Vincent not only made a tremendous contribution to the rise of the cleantech sector, he also set an example for entrepreneurs. An excellent communicator, he was always ready to give advice and encouragement.”
Denis Leclerc, President and CEO, Écotech Québec
“The entire entrepreneur community has lost a great builder in Vincent Chornet. Vincent embodied all the great qualities we look for in our partners: an energetic and curious spirit, tireless dedication and relentless tenacity that could be challenging for its investors but so necessary if your goal is to advance the world we live in. We’re proud to have been able to collaborate with him and his team during all these years. Vincent had a dream and thanks to him many generations will benefit. On behalf of the Fonds’ shareholders, our many partners and myself, thank you Vincent.”
Gaétan Morin, President and Chief Executive Officer, Fonds de solidarité FTQ
“Vincent Chornet devoted his professional life to demonstrating that the principles of the circular economy work and can generate environmental, social and economic benefits. By taking Enerkem as far as he did, Vincent will inspire the entrepreneurs of tomorrow’s economy for years to come.”
Léopold Beaulieu, President and CEO, Fondaction
About Cycle Capital Management
Cycle Capital Management (CCM) is an impact investor and the most active cleantech venture capital firm in Canada. Headquartered in Montreal with offices in Toronto, New York, Seattle and Qingdao, China, CCM has over $350 million of assets under management. The firm harnesses the in-depth sector knowledge of its investment professionals, strategic advisors and industrial partners to invest in North-American companies developing and commercializing clean technologies and striving to reduce greenhouse gas emissions, optimizing resource use, and improving process efficiency.
The firm has cultivated a special relationship with its strategic partners: Brookfield Renewable Energy, Rio Tinto, Cascades, Group M3, Lonza, Énergir, Systemex Énergies, Aluminerie Alouette and Hydro-Québec. For more information about Cycle Capital Management, visit: cyclecapital.com.
About Écotech Québec
The first organization of its kind in Canada, Écotech Québec represents the cleantech cluster. It supports local actors - companies, researchers, investors and groups - in order to accelerate the development, financing and marketing of clean technologies. As a not-for-profit organization, Écotech Québec relies on the financial support of a number of actors in the private sector, the Communauté métropolitaine de Montréal and the governments of Québec and Canada. Écotech Québec is a founding partner of the CanadaCleantech Alliance, a member of the International Cleantech Network, and a founding member of the Solar Impulse Foundation’s World Alliance for Efficient Solutions.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a capital development fund that channels the savings of Quebecers into investments. As at November 30, 2018, the organization had $14.8 billion in net assets, and through its current portfolio of investments has helped create and protect over 194,000 jobs. The Fonds has more than 2,800 partner companies and 667,000 shareholder-savers.
About Fondaction
Fondaction manages more than $2 billion in assets from the retirement savings of its nearly 160,000 shareholders. Fondaction supports the development of nearly 1,200 SMEs, including social economy enterprises. Fondaction helps maintain and create jobs, reduce inequalities and fight against climate change. Between 2015 and 2018, Fondaction reduced the carbon footprint of its equity investments by 51%. For more information, visit fondaction.com