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$1 M FINANCING ROUND FOR THE AGRICULTURAL TECHNOLOGY COMPANY ESA


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The company, which specializes in energy efficiency, will intensify its sales efforts in Canada and start marketing in the United States

PRESS RELEASE – The agricultural technology company Énergie Solutions Air (ESA) closes a financing round of one million dollars ($1 M) to feed its growth on the Canadian and US markets. This initial round of financing for the company includes the Innovexport Fund, Desjardins Capital, Economic Development Canada for Québec regions (DEC), Sherbrooke Innopole via its Fonds d’investissement pour entreprises innovantes, and two members of Anges Québec.

The Sherbrooke-based company specializes in heat recovery air exchangers for hog and fowl farming buildings. Their use considerably curtails the production of greenhouse gases by the farms, in addition to improving air quality for the animals.

The investment will finance growth by intensifying the marketing efforts in Canada over the next two years. The company also intends to break into the USA market during that period.

“This really is a strategic moment for us to increase our marketing and growth efforts. Lately, things seem to have reversed. We now see the potential clients contacting us to find out more about our technologies. The market already seems to have a better understanding of what we offer, and the interest definitely is there”, points out Adam Frégeau, Administrative Director of ESA.

“We are proud to be part of the development of ESA; its innovative technology that brings major improvements, along with its dynamic team, will make the business a success”, declares Richard Bordeleau, President of the Innovexport Fund.

“In addition to helping businesses save money, innovative solutions such as the ones proposed by ESA contribute to increasing the energy efficiency of our industries and thus protect our environment. That is why the government of Canada is happy to have granted a refundable contribution, key for the current project to come to fruition”, declared the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister in charge of DEC.

ESA, which will take part in the Salon de l’agriculture which opens tomorrow in Saint-Hyacinthe, also benefits from the support of regional actors, i.e. adapted accompaniment within the Acceleration program of the Espace-inc incubator, as well as from Sherbrooke Innopole, the paramunicipal corporation dedicated to the economic development of the City of Sherbrooke. “ESA undoubtedly is a very promising and innovating startup”, points out Josée Fortin, General Manager of Sherbrooke Innopole. “It is an intrinsic part of our key Clean Technologies sector through its visionary and responsible nature.

Adam Frégeau is very happy with these significant supports. “Not only do we have enthusiastic investors, we can also rely on an entire network in Sherbrooke to help push us forward”, says Adam Frégeau. “It is very facilitating!”

About ESA

Énergie Solutions Air (ESA) is a company specializing in energy efficiency for hog and fowl farming buildings.  It offers heat recovery air exchangers, in addition to an array of related services. Together, the products and services of ESA considerably curtail the production of greenhouse gases by the farms, in addition to improving air quality for the animals. For additional information, go to www.esair.ca.