Export Development Canada

Fibracast Announces Closing of $44.6 Million Round

Retrieved on: 
Monday, October 30, 2023

Fibracast Ltd. (“Fibracast” or the “Company”), a leading developer and manufacturer of innovative membrane technologies for advanced water and wastewater treatment, announced today that it has closed a $44.6 million issue of Class A Preferred Shares.

Key Points: 
  • Fibracast Ltd. (“Fibracast” or the “Company”), a leading developer and manufacturer of innovative membrane technologies for advanced water and wastewater treatment, announced today that it has closed a $44.6 million issue of Class A Preferred Shares.
  • Fibracast is pleased to announce that the raise included both existing shareholders and institutional investors for the first time.
  • Fibracast is relentlessly committed to improving treatment efficiency, reducing the total cost of ownership, and optimizing operational reliability.
  • This round of financing will support technology commercialisation in wastewater treatment plants across North America, Europe, and Asia.

PROCOMER promotes the Costa Rican aerospace industry at the most important international trade fair of the sector.

Retrieved on: 
Friday, October 27, 2023

The Costa Rican delegation, led by PROCOMER, is composed of the companies Avionyx, Aerocalidad, Camtronics, Olympic Precision Machining, BOF Construction Advisor, GJ Cargo, Grupo Mitah Escazú PREINSA, TicoElectronics (both part of G.W.

Key Points: 
  • The Costa Rican delegation, led by PROCOMER, is composed of the companies Avionyx, Aerocalidad, Camtronics, Olympic Precision Machining, BOF Construction Advisor, GJ Cargo, Grupo Mitah Escazú PREINSA, TicoElectronics (both part of G.W.
  • Lisk), which offer machining services, specialized software, electrical, electronics, logistics, real estate, as well as maintenance and repair of aerospace equipment.
  • Mario Sáenz, PROCOMER's Export Development Manager, highlighted how important it is for Costa Rican companies to participate in international events and promote the human talent that Costa Rica has to offer in a sector as specialized as aerospace.
  • Additionally, Esteban Carrillo, Executive Director of Costa Rica Aerospace Cluster (CRAC), a consortium that brings together more than 30 aerospace companies in Costa Rica, emphasized that "the participation of Costa Rica Aerospace Cluster in NBAA 2023 marks an important milestone in the consolidation of the aerospace market.

EDC reaffirms trade commitment for Indo-Pacific region with new representation in South Korea

Retrieved on: 
Monday, October 23, 2023

“South Korea is a dynamic, innovative and fast-paced economy offering an abundance of opportunity for Canadian companies looking to diversify and start exporting today,” said Mairead Lavery, President and CEO, EDC.

Key Points: 
  • “South Korea is a dynamic, innovative and fast-paced economy offering an abundance of opportunity for Canadian companies looking to diversify and start exporting today,” said Mairead Lavery, President and CEO, EDC.
  • Since signing the Canada-Korea Free Trade Agreement—Canada’s first free trade agreement with an Asia-Pacific nation—bilateral trade has been increasing.
  • In 2022, Canadian companies exported $8.6 billion of merchandise to Korea and EDC believes conditions are right for this number to grow.
  • The new EDC representation in South Korea is another step forward in expanding Canada’s trade network and in making resources available to exporters seeking to reach new customers in the Indo-Pacific region."

Investors Increase the Value of Miovision’s Latest Investment Round

Retrieved on: 
Thursday, October 19, 2023

Thanks to accelerating opportunities in the marketplace, investors – TELUS Ventures , Maverix Private Equity , Export Development Canada (EDC) , McRock Capital , HarbourVest Partners and BDC Capital’s Growth Venture Co-investment Fund – chose to increase their investment by C$36 million, bringing the total investment round to C$296 million.

Key Points: 
  • Thanks to accelerating opportunities in the marketplace, investors – TELUS Ventures , Maverix Private Equity , Export Development Canada (EDC) , McRock Capital , HarbourVest Partners and BDC Capital’s Growth Venture Co-investment Fund – chose to increase their investment by C$36 million, bringing the total investment round to C$296 million.
  • “Traffic is the number one or number two issue for municipal voters in a growing number of urban centres,” said Mark Maybank, Co-Founder and Managing Partner of Maverix Private Equity.
  • “Digitization opens up the opportunity to use rich traffic data to address the negative impacts of transportation – reducing emissions and improving road safety.
  • “The company is a leader in helping cities, towns and agencies gather multimodal traffic data and deliver the kind of analytics that help their customers manage urban transportation far more effectively.

Procurify Raises $50M Series C to Usher in the Next Era of AI-Enhanced Intelligent Spend Management

Retrieved on: 
Tuesday, October 17, 2023

Spend management is one of the most significant challenges faced by organizations.

Key Points: 
  • Spend management is one of the most significant challenges faced by organizations.
  • As companies grow, it becomes increasingly complex to oversee millions of dollars in purchasing, approvals, invoice processing, and payments.
  • Procurify’s end-to-end platform enables organizations to consolidate workflows and data into a single system of record, unlocking real-time spend insights.
  • “This funding round will support our mission to give organizations real-time visibility and control over all business spend,” said Aman Mann, Co-Founder and CEO of Procurify.

D-BOX Technologies Announces Amendments to Loan Facilities with National Bank of Canada and the Business Development Bank of Canada

Retrieved on: 
Monday, October 16, 2023

The upsized line of credit will be secured by first-ranking hypothec and security interests on all movable/personal property of the Corporation and its U.S. subsidiary and a guarantee from Export Development Canada.

Key Points: 
  • The upsized line of credit will be secured by first-ranking hypothec and security interests on all movable/personal property of the Corporation and its U.S. subsidiary and a guarantee from Export Development Canada.
  • “A special thank you to the Economic Development Agency of Canada for helping us secure the amendments to our line of credit.
  • The upsizing of our line of credit and the extended maturities on our term loans provide greater flexibility in our treasury management while reducing our financial cost.
  • “We believe in the growth potential of D-BOX as well as in their business strategy, and are pleased to support them in their future projects.”

Enthusiast Gaming Expands Credit Facilities

Retrieved on: 
Thursday, October 12, 2023

LOS ANGELES, Oct. 12, 2023 (GLOBE NEWSWIRE) -- Enthusiast Gaming Holdings Inc. (“Enthusiast Gaming” or the “Company”) (NASDAQ: EGLX; TSX: EGLX), the leading gaming media and entertainment company in North America, today announced that it has entered into an amended and restated commitment letter (the “Amendment”) with its primary lender in relation to its term and operating credit facilities (collectively, the “Facilities”) to provide up to $7.0 million of additional liquidity.

Key Points: 
  • LOS ANGELES, Oct. 12, 2023 (GLOBE NEWSWIRE) -- Enthusiast Gaming Holdings Inc. (“Enthusiast Gaming” or the “Company”) (NASDAQ: EGLX; TSX: EGLX), the leading gaming media and entertainment company in North America, today announced that it has entered into an amended and restated commitment letter (the “Amendment”) with its primary lender in relation to its term and operating credit facilities (collectively, the “Facilities”) to provide up to $7.0 million of additional liquidity.
  • In addition, the Amendment extends the maturity of the Facilities from December 31, 2024, to June 30, 2025.
  • Nick Brien, CEO of Enthusiast Gaming, commented, “This new financing strengthens our financial position with up to $7 million of additional liquidity over the coming months as we execute on our business plans and target our goal of profitability in Q4 2023.
  • The remaining terms, conditions, and covenants of the Facilities, including the security provided in respect thereof, remain materially consistent with the terms, conditions, and covenants of the Facilities prior to the Amendment, as described in the Company’s press release dated December 16, 2021.

EDC and PT Indonesia Infrastructure Finance announce partnership to support Canadian infrastructure exports

Retrieved on: 
Tuesday, October 10, 2023

OTTAWA, Oct. 10, 2023 (GLOBE NEWSWIRE) -- Export Development Canada (EDC) has signed a Memorandum of Understanding (MoU) with PT Indonesia Infrastructure Finance (IIF) to accelerate Canada’s participation in infrastructure development in Indonesia.

Key Points: 
  • OTTAWA, Oct. 10, 2023 (GLOBE NEWSWIRE) -- Export Development Canada (EDC) has signed a Memorandum of Understanding (MoU) with PT Indonesia Infrastructure Finance (IIF) to accelerate Canada’s participation in infrastructure development in Indonesia.
  • The signing ceremony took place at IIF’s office on Sept. 27, on the margins of EDC’s Jakarta office representation opening .
  • While Canada has a long history of supporting commodity and airplane exports to Indonesia, there is a significant opportunity now for institutional investors eyeing infrastructure projects.
  • Similar to EDC, IIF sees opportunity on the horizon with this new partnership, for both Canada and Indonesia.

North American Helium Successfully Brings Seventh Helium Facility into Production

Retrieved on: 
Tuesday, October 10, 2023

North American Helium Inc. (“NAH” or the “Company”) today announced several updates supported by continued exploration success contributing to the growth of its business and the startup of the Company’s seventh helium purification facility at Cadillac, near Ponteix, Saskatchewan.

Key Points: 
  • North American Helium Inc. (“NAH” or the “Company”) today announced several updates supported by continued exploration success contributing to the growth of its business and the startup of the Company’s seventh helium purification facility at Cadillac, near Ponteix, Saskatchewan.
  • Reflecting on the Company’s reliable and growing contribution to North American helium supply, Mr. Nicholas Snyder, Chairman and CEO stated, “with the commissioning of our seventh helium production facility, ahead of schedule and on budget, NAH continues to build on its established reputation of being a reliable supplier of helium for our customers.
  • NAH now produces over 155 million cubic feet per year (MMcf/yr) of purified helium, representing over 5% of North American helium production.
  • The new facility will initially have helium production capacity of 22 MMcf/yr.

Northland Power Announces Financial Close of the 1.0 GW Hai Long Offshore Wind Project in Taiwan Financing and Date for Investor Presentation Conference Call

Retrieved on: 
Thursday, September 28, 2023

TORONTO, Sept. 28, 2023 (GLOBE NEWSWIRE) -- Northland Power Inc. (Northland) (TSX: NPI) today announced that its Hai Long offshore wind project (Hai Long or the project) in Taiwan has successfully met all conditions to close its 1171 billion New Taiwan Dollars long-term non-recourse green financing (equivalent of CAD 5 billion).

Key Points: 
  • TORONTO, Sept. 28, 2023 (GLOBE NEWSWIRE) -- Northland Power Inc. (Northland) (TSX: NPI) today announced that its Hai Long offshore wind project (Hai Long or the project) in Taiwan has successfully met all conditions to close its 1171 billion New Taiwan Dollars long-term non-recourse green financing (equivalent of CAD 5 billion).
  • Hai Long will play an important role in helping the Government of Taiwan achieve its renewable energy target of 15 GW of offshore wind to be constructed between 2026 and 2035.
  • Once operational, Hai Long will be one of the largest offshore wind facilities in Asia, and will provide enough clean energy to power more than one million Taiwanese households.
  • There were no other material changes to the financial metrics disclosed within the press release dated September 21, 2023.