Montreal, February 1, 2021 — Propulsion Québec, the cluster for electric and smart transportation (EST), is pleased to announce that it has renewed its partnership agreement with Fonds de solidarité FTQ, a development capital fund that calls on the solidarity and savings of Quebecers, which will be a Lead Partner in 2021.
This partnership is consistent with the sustainable development angle of the cluster’s mission and is in line with its role as a lever of economic development in Quebec. The one-year renewable agreement will allow the Fonds to promote the transition to cleaner energy by supporting Quebec initiatives in transportation electrification and smart mobility solutions, which are key to reducing greenhouse gas emissions and fighting climate change.
The Fonds has contributed to Quebec’s economic growth for many years by investing in companies in all sectors of the Quebec economy, with a focus on supporting the development of innovative companies operating in value-added sectors, such as the smart and electric transportation industry. With its strong governance and codes of ethics, it acts as a socially responsible investor dedicated to humane and sustainable economic development. A Propulsion Québec member since February 2019, the Fonds also sits on the cluster’s board of directors and is a strategic partner in a number of projects, including a study on vehicle fleet electrification in Quebec and the IMPULSION MTL 2020 International Fleet Forum.
Through this partnership, Fonds de solidarité FTQ is a key contributor to all the cluster’s activities and projects in the EST ecosystem. By stepping up its partnership with Propulsion Québec, the Fonds is reaffirming its support and commitment to the EST ecosystem and doing even more to help electrify the Quebec economy.
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“For the second year in a row, Fonds de solidarité FTQ and Propulsion Québec are joining forces to get Quebec companies involved in the smart and electric transportation ecosystem,” said Sarah Houde, president and CEO of Propulsion Québec. “The cluster is delighted to see one of its earliest partners willing to pitch in even more to help support innovative new projects in mobility and transportation electrification. This kind of support from big economic players like Fonds de solidarité FTQ allows Quebec companies to shine and position themselves as world leaders in electric and smart transportation.”
“Transportation electrification is now well under way, and set to pick up speed in the coming years,” said Christian G. Brosseau, vice president, investment, strategic capital, energy and environment at the Fonds. “Quebec must take its place and contribute in the fight against climate change while helping build a stronger economy. That’s why we’re proud to join forces once more with Propulsion Québec and its partners to support electric and smart transportation development in Quebec. For Fonds de solidarité FTQ, that’s what it means to invest in a better society!”
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About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is investing in a better society thanks to its over 700,000 shareholder-saver. Through its private equity and venture capital investments, the Fonds seeks to have a positive impact on society, namely in the health, environmental and innovation sectors. With net assets of $15.6 billion as at November 30, 2020, the Fonds supported over 3,300 partner companies and more than 220,000 jobs. To find out more, visit fondsftq.com.
About Propulsion Québec
Québec's smart and electric transportation cluster rallies the entire sector around joint projects aimed at positioning Québec as a leader in developing and implementing land transportation systems that promote smart and electric transportation. Created in 2017, Propulsion Québec has over 210 members from a variety of sectors and deploys its resources across six distinct working groups to develop and support innovative projects. The cluster receives financial support from the Government of Québec, the Government of Canada, Communauté métropolitaine de Montréal (CMM), ATTRIX, the Fonds de solidarité FTQ, Hydro-Québec and Québecor.