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Longbow wraps up debut energy transition fund at C$181m

Canadian energy private equity firm Longbow Capital has closed its inaugural energy transition fund, securing C$181 million.

Canadian energy private equity firm Longbow Capital has closed its inaugural energy transition fund, securing C$181 million. Longbow Energy Transition Fund, anchored by BDC Capital, TD Bank Group and Caterpillar Ventures, will target North American opportunities for lowering carbon emissions. It has already made three investments: Canada’s Arcus Power Corp and Clir Renewables and US-based VoltaGrid.

PRESS RELEASE

CALGARY, Alberta, April 21, 2022 (GLOBE NEWSWIRE) — Longbow Capital Inc. (“Longbow”), a Calgary based private equity investment manager with a 25-year track record and approximately $900 million of assets under management, announces the final closing of the Longbow Energy Transition Fund (the “Fund”) with $181 million in capital commitments from leading institutional and family office investors. BDC Capital, TD Bank Group and Caterpillar Ventures are anchor investors in the Fund.

The Fund has a North American mandate to invest in businesses that are expected to benefit from the momentum behind the energy transition, with a focus on companies that help lower carbon emissions through efficient, cost effective and environmentally responsible solutions.

The Fund has completed three investments to date, including:
Clir Renewables Inc., a Vancouver based data analytics business dedicated to maximizing project returns from renewable energy assets;

VoltaGrid, LLC, a Houston based business that has developed and deployed a low-emissions power package for industrial-scale power users in remote or temporary locations; and
Arcus Power Corp., a Calgary based data analytics business that helps industrial power consumers reduce power costs through dynamic load management.

Tyson Birchall, Managing Director of Longbow, commented, “We are excited about the opportunity in front of us and believe there will be excellent investment opportunities in this space as the world pursues the critical goal of reducing carbon emissions while ensuring a reliable and cost-effective energy supply.”

About Longbow Capital

Longbow Capital is a Calgary based private equity investment manager that was founded in 1997 and has been a leading investor in the North American energy and energy technology sector. Longbow currently has approximately $900 million of assets under management spanning many aspects of the energy and power sector including energy and power production, infrastructure, services and technology. For more information, please contact Tyson Birchall at tbirchall@longbowcapital.com.

About BDC Capital

BDC Capital is the investment arm of BDC – Canada’s only bank devoted exclusively to entrepreneurs. With over $3 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers a full spectrum of risk capital, from seed investments to transition capital, supporting Canadian entrepreneurs who wish to scale their businesses into global champions. Visit bdc.ca/capital.

About TD Bank Group

The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group (“TD” or the “Bank”). TD is the fifth largest bank in North America by assets and serves more than 26 million customers in three key businesses operating in a number of locations in financial centers around the globe: Canadian Retail, including TD Canada Trust, TD Auto Finance Canada, TD Wealth (Canada), TD Direct Investing, and TD Insurance; U.S. Retail, including TD Bank, America’s Most Convenient Bank®, TD Auto Finance U.S., TD Wealth (U.S.), and an investment in The Charles Schwab Corporation; and Wholesale Banking, including TD Securities. TD also ranks among the world’s leading online financial services firms, with more than 15 million active online and mobile customers. TD had CDN$1.8 trillion in assets on January 31, 2022. The Toronto-Dominion Bank trades under the symbol “TD” on the Toronto and New York Stock Exchanges.