Concordia University Foundation and global investment firm Inerjys Ventures sign $1.2M next-gen partnership to strengthen cleantech sector
Montreal, April 16, 2019 – The Concordia University Foundation (CUF) and Inerjys Ventures (Inerjys) are thrilled to announce their new partnership, working in tandem to invest in clean technologies and further solidifying their commitment towards the new energy transformation.
The agreement will see Inerjys invest, through limited partnerships, $1.2 million from CUF’S long-term pool in three of Inerjys’ portfolio companies: AESP Green Energy, which builds scalable off-grid solar solutions; StillGood Foods, whose sustainable snacks combat food waste and local food insecurity; and Goliath Wind, whose modular rotor turbines challenge conventional wind-industry economics, both in manufacturing and operations. AESP and StillGood Foods are both Quebec-based companies; Goliath Wind will be incorporated in Canada as part of Inerjys’ commercialization strategy.
The partnership follows CUF’s signing on to the United Nations’ Principles for Responsible Investment (UNPRI) in 2018. In February 2019, Concordia became the first Canadian university to issue a sustainable bond.
Beyond CUF’s investments through Inerjys, this next-gen partnership will involve Concordia students and researchers exchanging with these three companies at the operational level.
Concordia University President Alan Shepard commented: “Being a next-gen university extends to every aspect of Concordia, from our research and teaching to our commitment to community and how we partner with tomorrow’s industry leaders. This agreement demonstrates Concordia’s commitment to creating a sustainable future for Canadians, setting an example we hope other institutions will follow.”
‘’Having an institution as respected as Concordia University join our LP base is a great boost not just for our portfolio companies, but for the cleantech sector more broadly,” said Stephan Ouaknine, CEO of Inerjys. “CUF’s financial commitment will help us continue to source best-in-class clean technologies for our portfolio and clearly demonstrates that Concordia shares our goal of mitigating the impacts of climate change. Having access to Concordia’s socially engaged academic and alumni networks makes this partnership an even greater win-win.”
For his part, Howard Davidson, Chair of the Concordia University Foundation, added: “Signing on to the UNPRI and incorporating an Impact Investments Policy in 2018 means the CUF aims to generate social and environmental impact alongside a financial return. We achieved that with our sustainable bond issuance in February. But with Inerjys, we’ve gone beyond, creating a truly next-gen partnership by involving our students and researchers in their portfolio of green companies.”
About the Concordia University Foundation
The CUF, incorporated in 1991 and operational as of 1996, strives to ensure the long-term viability of Concordia’s programs and initiatives. Alongside Concordia, the Foundation has helped to create and foster an environment in which teaching, learning and research positively affect the quality of life in Montreal, Quebec, Canada and the rest of the world. The Foundation is seeking to create a more diverse, creative and adaptive society.
Inerjys is a global investment firm committed to accelerating the adoption of clean technologies to rapidly mitigate the effects of climate change. Inerjys invests in companies with technologies that are globally deployable and ready for commercialization. Through a unique investment model, Inerjys is actively helping its portfolio companies commercialize and generate growth. Find out more at inerjys.com and on Twitter.