Fonds de solidarité FTQ’s new bioenergy fund acquires three companies  

• The acquisitions were announced as part of the launch of Fonds de solidarité FTQ Bioénergie, a new fund targeting opportunities in the Quebec bioenergy sector
• A first tranche of investments worth C$100 million is planned for the development and operation of bioenergy projects
• Fonds de solidarité FTQ Bioénergie will be headed by Normand Bélanger

Fonds de solidarité FTQ Bioénergie, an affiliate of Fonds de solidarité FTQ, has acquired Centre de traitement de la biomasse de la Montérégie (CTBM), Qarbonex and Solucycle, all Quebec businesses operating in the bioenergy sector.

Fonds de solidarité FTQ announced the acquisitions as part of its launch of Fonds de solidarité FTQ Bioénergie, a new fund targeting opportunities in the Quebec bioenergy sector with an initial focus on biomethanization and renewable natural gas production projects. A first tranche of investments worth C$100 million is planned for the development and operation of bioenergy projects.

Fonds de solidarité FTQ Bioénergie will be headed by Normand Bélanger, until recently president and CEO of the Fonds immobilier de solidarité FTQ.

“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 Bélanger in a statement.

CTBM operates a plant to recover organic waste from the industrial sector. Qarbonex, an engineering subsidiary of CTBM, focuses in supporting renewable natural gas projects. Solucycle specializes in the management and recovery of food waste.

Fonds de solidarité FTQ is a labour-sponsored provider of development and growth capital in Quebec. Based in Montreal, it held net assets of C$17.8 billion as of 30 November 2022.