The Master Group invests in the development of sustainable energy by joining forces with the Cycle Capital Fund
Boucherville, November 12th, 2009 – The Master Group is pleased to announce its investment in the Cycle Capital Fund I, L.P., as an industrial partner. This initiative is evidence of The Master Group’s firm determination to invest in sustainable solutions, focus on highly energy-efficient equipment and participate in greenhouse gas reduction projects.
Cycle Capital Fund, a Quebec venture capital fund managed by Cycle Capital Management (CCM) inc., has a mission to invest in companies that develop and market clean technologies and renewable energy production projects that help reduce greenhouse gas emissions, optimize resources and reduce the negative environmental impact over their lifecycle.
As an industrial partner of Cycle Capital, the Master Group will, in addition to its financial commitment, provide technical support for validating technologies and assistance for clean technology companies to help them develop applications that could be launched on a large scale in the marketplace.
“The contribution and collaboration of industrial investors, such as the Master Group, is fundamental to the investment strategy of Cycle Capital. This partnership enables us to support entrepreneurs in developing their companies by offering them a better understanding of the commercial value of their technologies,” said Andrée-Lise Méthot, founder and senior partner in Cycle Capital.
“We have always been on a quest for innovative solutions and we are evolving in a sphere of activities that is particularly concerned with environmental issues. Making our buildings more energy efficient is a critical factor in cleaning up our environment and reducing their greenhouse gas emissions,” added Michel Ringuet, CEO of the Master Group. “It is incumbent on every level of economic activity to intervene and act in this matter, and it seems perfectly natural to us, as a distributor, to participate in Cycle Capital Fund I. In addition to positioning ourselves as leader in the promotion and distribution of highly energy-efficient equipment, we have decided to invest in order to contribute to the rapid rise in clean and innovative technologies.”
About Cycle Capital Management
A pioneer among Canadian venture capital funds in the clean technologies sector, Cycle Capital brings together a unique group of investment professionals, strategic advisors and sustainable development experts who have an in-depth knowledge of the clean technologies and business sector. Cycle Capital supports the development of companies by giving talented entrepreneurs access to its resources and an innovative approach based on “lifecycle thinking,” which enables them to accelerate the adoption of their technologies by the market and to become a leader in their sectors of activity. Cycle Capital has already invested in six Quebec companies and continues to seek out investment opportunities on the markets in Quebec, Canada and the northeastern corridor of North America.
About The Master Group L.P.
The Master Group has lead the air conditioning, refrigeration and heating sectors for more than 55 years now and is the largest independent distributor in Eastern Canada. It employs some 350 dynamic and devoted individuals who serve the industry from over 14 branches and two distribution centres spanning from Eastern Ontario to the Maritimes.
Source: Nathalie Lajoie
Director, Communications & Marketing