MONTREAL, June 21, 2023 /CNW/ – In the wake of the roll-out of its Vision 2026, the Fonds de solidarité FTQ continues to increase its commitment to the energy transition and announces the launch of the Fonds de solidarité FTQ Bioénergie, a new limited partnership whose mandate is to accelerate the growth of the bioenergy sector in Quebec by focusing initially on biomethanization and renewable natural gas (RNG) production projects on a human scale. A first tranche of strategic investments worth $100 million is planned for both the development and operation of bioenergy projects and the management of assets.
“We are very proud to be making this major announcement as the Fonds de solidarité FTQ marks its 40th anniversary in the coming days. This new initiative is a strong 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 Quebec’s energy future,” said Janie C. Béïque, President and CEO of the Fonds de solidarité FTQ.
“The Fonds will work with all its partners to ensure that this energy helps to replace fossil natural gas in the industrial sector. We have chosen to invest in projects that will support decarbonization, as this complements our current actions to support the just environmental transition,” she said.
The 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.
The newly created Fonds de solidarité FTQ Bioénergie announces the acquisition of three Quebec companies that are leaders in the bioenergy sector: Centre de traitement de la biomasse de la Montérégie (CTBM), Qarbonex and Solucycle. These announcements are in line with the Fonds de solidarité FTQ’s strategic vision, which is to reach $12 billion in assets related to sustainable development by 2027 and to become one of the largest investors in the environmental transition in Quebec.
“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.
By acquiring CTBM, Qarbonex and Solucycle, the Fonds de solidarité FTQ Bioénergie is acquiring leading-edge expertise and recognized know-how in biomethanization, the recovery of organic matter and the production of RNG.
Since 2004, the CTBM has been operating a plant to recover organic waste from the industrial sector. The company processes more than 150,000 tonnes of material a year, 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, proficiency in the biomethanization process and internationally recognized expertise contribute to the social acceptability of biomethanization sites, in particular by ensuring that their impact on communities is mitigated and that environmental standards are met.
Lastly, Solucycle is an innovative Quebec-based company specializing in the management and recovery of food waste at the source. Its concept makes it possible to sort and collect food waste from supermarkets, restaurants, hotels and institutions, and to ensure its traceability. This technology simplifies the management of food waste, which is then stored in a watertight tank and transported to the biomethanization site for conversion into biogas.
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 Quebec 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 returns as by societal returns. To find out more, visit www.fondsftq.com or LinkedIn.
SOURCE Fonds de solidarité FTQ
For further information: media representatives only, Yves-Alexandre Comeau, External communications Director, Fonds de solidarité FTQ, Cell : 514-295-4287, email@example.com