Exprolink rallies funding

Fonds de solidarité FTQ has invested C$3 million in Exprolink.

Fonds de solidarité FTQ has invested C$3 million in Exprolink. Based in Longueuil, Quebec, Exprolink is a maker of outdoor cleaning vehicles for green smart cities.

PRESS RELEASE

QUÉBEC CITY and LONGUEUIL, QC, March 10, 2020 /CNW Telbec/ – Fonds de solidarité FTQ is investing $3 million to support the growth of Exprolink, a Longueuil-based company operating in the transportation electrification industry. The announcement was made by Dany Sarrazin‑Sullivan, the Fonds’ Director of Investments, Strategic Capital, Energy, Environment and Mines, at the opening of the Salon des technologies environnementales du Québec 2020 (Salon des TEQ 2020) organized by Réseau environnement.

Exprolink designs and manufactures outdoor cleaning vehicles for green smart cities. Its products, sold worldwide under the Madvac brand, include compact sweepers and litter vacuums for sidewalks, bicycle paths, parks and pedestrian lanes. The market for this type of equipment, used to keep our increasingly densifying cities clean, is booming. Demand for this type of vehicle is shifting to electrification in order to help fight climate change and reduce noise pollution. In response to these challenges, Madvac began electrifying its diesel-fuelled products last year. Municipalities have reacted favourably, showing a keen interest in Madvac’s first electrified vehicle, the LR50e model.

“The Exprolink team is thrilled to have a strategic partner like the Fonds on board to help the company electrify its entire product line. We are now able to speed up this shift and meet our customers’ urgent requests for electric cleaning vehicles,” said Exprolink President Jean Bourgeois.

“This investment is consistent with the Fonds de solidarité FTQ’s plan to promote the energy transition. Transportation electrification is essential to reduce greenhouse gas emissions and fight climate change, and it’s by supporting these types of initiatives that the Fonds plans on having a concrete impact in the energy transition,” commented Dany Pelletier, Vice-President for Investments, Strategic Capital, Energy, Environment and Mines.

“Réseau Environnement is thrilled with the Fonds’ investment in Exprolink and with the shift undertaken by the company,” said Christiane Pelchat, President and CEO of Réseau Environnement, at the Salon des TEQ. “Here is a project that is perfectly in line with the move towards a green economy,” she continued.

About Fonds de solidarité FTQ
Fonds de solidarité FTQ is a capital development fund that channels the savings of Quebecers into investments. With $16.7 billion in net assets as at November 30, 2019, the Fonds has helped create and protect more than 215,000 jobs. The Fonds has 3,100 partner companies and more than 700,000 shareholders-savers.