News Summary

Canadian-founded software firm AppDirect, headquartered in San Francisco, has made its second energy brokerage acquisition this year by purchasing Québec-based DNE Resources. This follows their earlier acquisition of US-based Broker Online Exchange (BOX). AppDirect aims to capitalize on rising energy demands driven by increased AI consumption. The acquisitions are funded by a $100-million credit facility from La Caisse de dépôt et placement du Québec, a repeated backer of AppDirect. This move allows AppDirect to expand further into North American energy markets while providing an extended suite of technology services to DNE customers. AppDirect, co-founded by Canadians Daniel Saks and Nicolas Desmarais, anticipates crossing $1 billion in gross revenues within the next two years. La Caisse has also announced a five-year plan to invest $400 billion in climate action by 2030.