High-speed transportation startup TransPod Inc has secured about $20.2 million (US$15 million) in seed-stage financing. The round's investor was Angelo Investments, an Italian venture capital firm focused on transportation technologies. Founded last year by CEO Sebastien Gendron and CTO Ryan Janzen, Toronto-based TransPod is developing a high-speed hyperloop transportation system to connect people, businesses and cities. It will use the funds raised to begin Canadian and Italian operations in 2017, grow its team of engineers, and invest in R&D. TransPod will also seek government support to build a test track in Ontario.
4 min read · 24 November 2016
Toronto mining company Harte Gold Corp (TSX: HRT) has raised $25 million in a deal flow-through share offering and private placement. The latter, which accounted for $10 million, was provided by Appian Natural Resources Fund, a metals and mining private equity fund managed by U.K.-based Appian Capital Advisory. With the deal, Appian will be entitled to own up to 19.9 percent of Harte's outstanding common shares and nominate up to two board members. The funds raised will be used to accelerate exploration and development of the company's Sugar Zone property located in White River, Ontario.
6 min read · 24 November 2016
Andrew Reid, founder and president of Vision Critical, has left the company to launch a new startup called VC Labs. VC Labs will focus on developing software applications that extend the value of insight communities across organizations. Vancouver's Vision Critical, a customer intelligence software and support platform, will partner in the launch. Reid, who founded Vision Critical in 2000, will remain a significant shareholder. The venture-backed company's last financing, led by Georgian Partners in mid-2014, raised $16 million.
3 min read · 24 November 2016
Canadian merger and acquisition (M&A) deal values hit a four-year high in the third quarter of 2016 due to several high-profile mega-deals, Crosbie & Co reported. According to data developed from Capital IQ and other sources, 681 deals took $132.4 billion in this period, up from 672 deals worth $79.6 billion a year ago. Enbridge Inc’s offer to buy Spectra Energy Corp, and the planned combination of Agrium Inc and Potash Corp, accounted for about 65 percent of all values. In the domestic market, Crosbie counted 461 deals valued at $46.7 billion in Q3 2016, which is also up from the 433 deals worth $17.7 billion a year ago.
3 min read · 24 November 2016
Canadian private markets investor Northleaf Capital Partners has bought a 36.75 percent equity interest in the second phase of Nevada's Don A. Campbell geothermal power plant for US$44.2 million. The plant's 20.5 megawatt second phase began operation last year and sells electricity to Southern California Public Power Authority. The buy represents a follow-on equity deal involving Northleaf and its partner, Ormat Technologies Inc (NYSE: ORA). Last year, Northleaf invested US$162.3 million to acquire stakes in several Ormat plants, including Don A. Campbell, as well as other assets.
4 min read · 23 November 2016
Canadian capital pool company Anchor Capital Corp (TSX-V: ANC.P) has agreed to combine with Mark One Lifestyle Inc, a San Francisco-based maker of internet-connected lifestyle devices that track food and beverage consumption. The deal, which is expected to include a private placement financing that generates gross proceeds of $10 million to $15 million, will see Anchor renamed Mark One Lifestyle Corp. Founded in Kingston, Ontario in 2007, Mark One has received funding from several venture capital firms, including Intel Capital Corp, Horizons Ventures and Felicis Ventures. Intel led the company's US$4 million seed round earlier in 2016.
10 min read · 23 November 2016
U.S. sports products company True Temper Sports Inc has acquired VH Footwear Inc, a Winnipeg manufacturer of custom hockey skates that is led by Founder and CEO Scott Van Horne. No financial terms were disclosed. True Temper said the acquisition is strategic and will provide a growth platform for its TRUE hockey business. As part of the deal, True Temper said it will continue to produce VH skates in Canada. Headquartered in Memphis, Tennessee, True Temper, a maker of hockey, golf and lacrosse products, was acquired by U.S. private equity firm Lincolnshire Management in 2012.
4 min read · 23 November 2016
Canadian infrastructure investment firm Axium Infrastructure has acquired a 100 percent interest in an 84 megawatt (MW) AC solar portfolio from Renewable Energy Trust Capital. No financial terms were released. The portfolio consists of eight solar photovoltaic facilities in California, Georgia and Ontario, which reached operation between 2012 and 2015. With the deal, Axium has invested in about 300 MWAC of solar generation across North America and deployed almost US$800 million of fund capital. Earlier this year, Axium partnered in the buy of a stake in the K2 Wind Facility.
2 min read · 23 November 2016
Leah Lawrence, president and CEO of Sustainable Development Technology Canada (SDTC), has been named a female executive of the year award winner by the Stevie Awards for Women in Business. The Stevie Awards, which recognize female entrepreneurs, executives, employees and the organizations they run, announced Lawrence's win in the government-non-profit category on November 18 in New York. Lawrence has led SDTC since mid-2015. She previously headed Clean Energy Capitalists Inc. SDTC provides funding and support to Canadian cleantech projects.
3 min read · 23 November 2016
3 min read · 23 November 2016
