News Summary

The Canada Growth Fund (CGF), a federal government initiative aimed at boosting the Canadian cleantech market, has committed up to $50 million CAD to Longbow Capital’s second Energy Transition Fund. This marks the 10th investment from CGF, a $15-billion fund designed to attract private capital to the Canadian cleantech sector. Longbow Capital, a Calgary-based private equity firm with approximately $1.5 billion in assets under management, focuses on investments in energy, power, infrastructure, and technology. The Energy Transition Fund, which targets $250 million CAD, aims to invest in North American businesses that contribute to the energy transition by lowering carbon emissions. The fund’s initial close in November 2023 secured $150 million CAD from institutional and family office investors, including returning anchor investors TD Bank Group, Caterpillar Ventures, and BDC Capital. The CGF’s investment adds significant capital to support the growth of Canadian cleantech companies, continuing its partnership with Longbow Capital.