The Fonds de solidarité FTQ launches the Fonds de solidarité FTQ Bioénergie

Montréal, June 21, 2023

Following the roll-out of its Vision 2026, the Fonds de solidarité FTQ continues to deepen its commitment to the energy transition, announcing the launch of Fonds de solidarité FTQ Bioénergie, a new limited partnership whose mandate is to speed up the development of Québec's bioenergy sector, focusing initially on human-scale biomethanization and renewable natural gas (RNG) projects. A first tranche of strategic investments worth $100 million is planned for both the development and operation of bioenergy projects and for asset management.

"We are very proud to be making this important announcement on the eve of the Fonds de solidarité FTQ's 40th anniversary. This new initiative is a clear and concrete demonstration of our commitment to playing a key role in the environmental transition and the fight against climate change. Bioenergy is a highly strategic sector for our economy and Québec's energy future," said Janie C. Béïque, President and CEO of the Fonds de solidarité FTQ.

Acquisition of CTBM and Qarbonex

The newly-created Fonds de solidarité FTQ Bioénergie has acquired three Québec companies recognized as leaders in the bioenergy industry: Centre de traitement de la biomasse de la Montérégie (CTBM), Qarbonex and Solucycle. These acquisitions will provide Fonds de solidarité FTQ Bioénergie with cutting-edge expertise and recognized know-how in biomethanization, organic matter recovery and RNG production.

Launched in Saint-Pie in 2004, CTBM operates an organic waste recovery plant that transforms agrifood waste. The company processes over 150,000 tonnes of material annually, most of which is used to produce renewable natural gas and high-quality organic fertilizers. Its subsidiary, the engineering firm Qarbonex, specializes in supporting renewable natural gas projects. Its business intelligence, knowledge of the biomethanization process and internationally recognized expertise contribute to the social acceptability of biomethanization sites by ensuring that their impact on communities is mitigated and that environmental standards are respected.

"This is great news for our company and, more broadly, a turning point in the development of Québec's bioenergy industry. There's a growing interest and demand for the management of organic matter and the production of renewable natural gas. Our expertise and know-how in this niche are unique in Québec. With the resources, support, network and vision of the Fonds de solidarité FTQ, we can now take our business to the next level," said CTBM president and CEO Benoit Paré.

"The launch of this new company marks a historic moment for bioenergy in Québec. We're proud to be able to apply our knowledge in project development and support to the creation of this new sector. Our arrival will help Fonds de solidarité FTQ Bioénergie advance its mandate. It also marks an important turning point for Qarbonex. Our expertise will be put to good use alongside the best in the industry to help the sector grow in Québec," said Qarbonex vice-president Maxime Lemonde.

Projects on a human scale that benefit local communities

Fonds de solidarité FTQ Bioénergie will be headed by Normand Bélanger, an early contributor to the Fonds de solidarité FTQ and until recently President and CEO of the Fonds immobilier de solidarité FTQ. Mr. Bélanger has sound experience in implementing business models based on the commitment of partners and developers. His priority will be to develop projects that will have a positive local impact and contribute to the economic growth of Quebec and its regions.

"I am delighted to be taking over the management of the Fonds de solidarité FTQ Bioénergie, a new company that, with the acquisition of CTBM, Qarbonex and Solucycle, can already count on know-how and a team of experts that are unique in Quebec. Our priority now will be to develop partnerships and projects on a human scale, in order to contribute to the economic growth of our regions while helping Quebec achieve its objectives in the fight against climate change and the reduction of greenhouse gases," said Normand Bélanger, President of the Fonds de solidarité FTQ Bioénergie.

Solucycle is an innovative Québec-based company specializing in the management and recovery of food waste at the source. The company's technology makes it possible to sort and collect food waste in supermarkets, restaurants, hotels and institutions, thus ensuring traceability. It also simplifies the management of food residues, which are then stored in an airtight tank and transported to the biomethanization site for conversion into biogas.

These announcements are in line with the Fonds de solidarité FTQ's strategic vision, which aims to reach $12 billion in assets linked to sustainable development by 2027 and to become a leading investor in Québec's environmental transition.

About the Fonds de solidarité FTQ

The Fonds de solidarité FTQ is a source of pride in Québec, fulfilling its mission through a unique business model created 40 years ago. Since then, the Fonds has rallied Québec into action thanks to the retirement savings of 753,125 shareholders.

With net assets of $17.8 billion as at November 30, 2022, the Fonds supports more than 3,600 companies through venture and development capital investments based on the belief that impact is created as much by financial as social returns. For more information, visit fondsftq.com or our company page on LinkedIn .

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