Cycle, Desjardins invest $3 mln in biocoal technology platform Airex
Airex Energy Inc, a designer and manufacturer of biomass-to-biocoal equipment, has secured $3 million in financing. The investors were Seed Fund Cycle-C3E, a fund managed by Cycle Capital Management, and Desjardins-Innovatech LP, a fund managed by Desjardins Capital de risque. Investment proceeds will assist Airex in building a new demonstration plant that will become the showcase for its CarbonFX biocoal technology. The Laval, Québec-based company has operated a pilot plant using the CarbonFX process since 2011. Cycle is a clean-tech venture capital firm, while Desjardins is broadly focused private equity firm. Both have their headquarters in Montréal.
10 June 2014•3 mins read
