Export Development Canada

Peak Power Inc. Closes Latest Funding Round with Investment from The Atmospheric Fund

Tuesday, February 23, 2021 - 5:17pm

Toronto-based Peak Power (Peak) today announced that it has closed funding from The Atmospheric Fund (TAF), representing the fifth investor in Peaks capital funding round.

Key Points: 
  • Toronto-based Peak Power (Peak) today announced that it has closed funding from The Atmospheric Fund (TAF), representing the fifth investor in Peaks capital funding round.
  • TAF will join Sensata Technologies, Export Development Canada (EDC), BDC Capital, and Hatch/Canadian Shield as a strategic investor in Peak.
  • Founded in 2015, Peak Power ( www.peakpowerenergy.com ) develops AI-powered software to create intelligent energy systems in smart cities.
  • It optimizes the use of synthetic, stationary, and electric vehicle batteries through its offerings: Peak Insight, Peak Synergy, and Peak Drive.

Peak Power Inc. Secures Funding from Hatch and BDC, the Bank for Canadian Entrepreneurs

Tuesday, January 26, 2021 - 3:23pm

Toronto-based Peak Power (Peak) announced today that it has received further funding from BDC Capital, the investment arm of BDC and Canadian Shield Capital, the investment arm of Hatch, a global engineering consultancy.

Key Points: 
  • Toronto-based Peak Power (Peak) announced today that it has received further funding from BDC Capital, the investment arm of BDC and Canadian Shield Capital, the investment arm of Hatch, a global engineering consultancy.
  • BDC Capital and Canadian Shield Capital join Export Development Canada (EDC) and Sensata Ventures as investors to support Peaks global expansion.
  • Derek Lim Soo, CEO and Co-Founder of Peak Power, said of the investments, We are excited to welcome the support of Hatch and BDC.
  • BDC Capital is the investment arm of BDC, the bank for Canadian entrepreneurs.

Peak Power Inc. Secures Funding From Sensata Ventures and Export Development Canada

Wednesday, November 18, 2020 - 3:11pm

Peak Power, a Canadian based Startup, announced today that is has received funding from Sensata Ventures and Export Development Canada (EDC) to fund further expansion of its proprietary Synergy Platform.

Key Points: 
  • Peak Power, a Canadian based Startup, announced today that is has received funding from Sensata Ventures and Export Development Canada (EDC) to fund further expansion of its proprietary Synergy Platform.
  • Through the Synergy platform, Peak unlocks new revenue streams and reduces emissions for their customers in the C&I, energy development, and utility sectors.
  • We recognize that Peak Power is a leader in the development of advanced optimization software for distributed energy resources.
  • Peak is very grateful to have the support of both Sensata and EDC, said Derek Lim Soo, CEO and Co-Founder of Peak power.

Tantalus Recognized as an Export Star

Tuesday, November 3, 2020 - 3:00pm

Smart grid technology leader Tantalus Systems Corp. announced today that it has been named as an Export Development Canada (EDC) Cleantech Export Star.

Key Points: 
  • Smart grid technology leader Tantalus Systems Corp. announced today that it has been named as an Export Development Canada (EDC) Cleantech Export Star.
  • Each year, EDC highlights the achievements of leading cleantech companies during their Cleantech Export Week conference.
  • Tantalus was recognized as a proven leader whose technologies and business strategies have succeeded in getting their products beyond Canadas borders - as one of five clean technology companies that stands out as making a positive impact across North America and the Caribbean Basin.
  • Each year, it brings me great pride and gratitude to announce Canadas Export Stars and Ones to Watch, but this year is particularly impactful.

Westport Fuel Systems Secures US$10 Million Credit Facility from Export Development Canada

Thursday, July 23, 2020 - 1:30pm

VANCOUVER, British Columbia, July 23, 2020 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. (Westport Fuel Systems or the Company) (TSX:WPRT / Nasdaq:WPRT) today announced that they have closed a US$10 million term credit facility (the facility) from Export Development Canada (EDC) to bolster liquidity during the COVID-19 pandemic.

Key Points: 
  • VANCOUVER, British Columbia, July 23, 2020 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. (Westport Fuel Systems or the Company) (TSX:WPRT / Nasdaq:WPRT) today announced that they have closed a US$10 million term credit facility (the facility) from Export Development Canada (EDC) to bolster liquidity during the COVID-19 pandemic.
  • These transactions confirm the continued strong support of Export Development Canada and their unwavering commitment to Canadas clean-technology exporters, said David M. Johnson, Chief Executive Officer of Westport Fuel Systems.
  • EDC is focused on helping all Canadian businesses navigate the challenges of the COVID-19 pandemic and providing this facility to Westport Fuel Systems supports one of Canadas most innovative cleantech companies.
  • Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian companies of all sizes succeed on the world stage.

Trade confidence among Canadian exporters hits all-time low: EDC

Thursday, June 25, 2020 - 11:00am

OTTAWA, June 25, 2020 (GLOBE NEWSWIRE) -- Canadian trade confidence tumbled by 19% to an all-time low, according to the biannual Trade Confidence Index published today from Export Development Canada (EDC).

Key Points: 
  • OTTAWA, June 25, 2020 (GLOBE NEWSWIRE) -- Canadian trade confidence tumbled by 19% to an all-time low, according to the biannual Trade Confidence Index published today from Export Development Canada (EDC).
  • Despite the lack of confidence and the significant concerns exporters are facing, the EDC survey also found a record push for diversification.
  • The Trade Confidence Index is conducted twice a year, providing insights otherwise unavailable through traditional trade statistics.
  • The results are a pulse check of Canadian exporters level of confidence and their expectations of international trade opportunities.

BMO Clients Can Now Access Expanded Financial Support with BDC's Mid-Market Relief Program

Friday, June 19, 2020 - 2:56pm

"Alongside existing relief measures, the expanded BDC BCAP for mid-market companies will provide additional options to help companies facing economic hardship.

Key Points: 
  • "Alongside existing relief measures, the expanded BDC BCAP for mid-market companies will provide additional options to help companies facing economic hardship.
  • The BDC Co-Lending program offers eligible BMO business clients term loans up to $12.5 million, 80 per cent of which would be provided through BDC.
  • BMO is encouraging clients to reach out to their Relationship Manager to discuss how relief measures can support their individual needs.
  • BMO continues to work with both government and industry to bring to market Export Development Canada's mid-market financing program.

Coface Canada Positioned to Support Canadian Businesses with Additional Credit Capacity

Friday, May 29, 2020 - 3:54pm

Toronto, ON, May 29, 2020 (GLOBE NEWSWIRE) -- In the context of Covid-19 crisis,Coface Canada is pleased to announce their participation in the extended Trade Partnership Insurance (TPI) powered by EDC (Export Development Canada).

Key Points: 
  • Toronto, ON, May 29, 2020 (GLOBE NEWSWIRE) -- In the context of Covid-19 crisis,Coface Canada is pleased to announce their participation in the extended Trade Partnership Insurance (TPI) powered by EDC (Export Development Canada).
  • This agreement is the result ofthe strongcollaboration between the Government of Canada, Export Development Canada (EDC) and the Receivables Insurance Association of Canada (RIAC).
  • TPI is a per buyer reinsurance solution backed by EDC that providescomplementarycredit capacitytothe Canadian market.The additional capacitystandson top of the granted credit limits delivered by the private insurersas a complementarycredit limit.
  • Credit insurance is an essential tool to facilitate trade and support the overall supply chain.

EDC announces expanded support for more Canadian companies to help navigate COVID-19 crisis

Monday, May 11, 2020 - 6:00pm

The expanded program brings liquidity to companies who tend to have revenues of between $50 million to $300 million, to sustain operations during this emergency moment.

Key Points: 
  • The expanded program brings liquidity to companies who tend to have revenues of between $50 million to $300 million, to sustain operations during this emergency moment.
  • They are essential to the economic well-being of our country, said Mairead Lavery, President and CEO, EDC.
  • EDC has also launched a new tool to help businesses explore the resources developed by the government and Crown corporations to help Canadian businesses navigate COVID-19.
  • Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian companies of all sizes succeed on the world stage.

RBC clients can now access the Export Development Canada Business Credit Availability Program

Friday, April 17, 2020 - 10:47pm

TORONTO, April 17, 2020 /CNW/ -Today, RBC announced the launch of the Government of Canada's Export Development Canada (EDC) Business Credit Availability Program (BCAP).

Key Points: 
  • TORONTO, April 17, 2020 /CNW/ -Today, RBC announced the launch of the Government of Canada's Export Development Canada (EDC) Business Credit Availability Program (BCAP).
  • The EDC BCAP provides eligible mid-sized and large RBC business clients with a loan of up to $6.25 million to offer short-term liquidity.
  • "The EDC BCAP solution is another relief option we've brought on-stream to support eligible mid- and large-sized business clients, in addition to some of the Government's ongoing relief measures and existing RBC hardship solutions."
  • We are continuing to work with our partners in government, and with the financial services sector to bring to market the Government of Canada's Business Development Bank of Canada Business Credit Availability Program (BCAP) to further support small, medium and large businesses.