EDC's Equity program invests CAD 1 million in Canada's Enbala Power Networks

OTTAWA, Sept. 28 /CNW/ - Export Development Canada (EDC) today announced that it has invested CAD 1 million towards a CAD 8-million syndicated investment facility for Enbala, formerly known as Sempa Power, a clean power technology company headquartered in Toronto with a research arm in Vancouver.

"Clean power technology, which helps cut greenhouse gas emissions and reduces operating costs, is quickly becoming a niche Canadian expertise that is gaining global attention," said Stephen Poloz, Senior Vice-President, Financing, EDC. "EDC's investment in Enbala and funds like XPV Water is based on our strong belief in the growth potential of the sector and its significant export promise, in addition to our commitment to good corporate social responsibility."

The syndicate of investors includes clean power funds EnerTech Capital and Chrysalix Energy Venture Capital. The financing will be used to deliver their technology into a number of markets.

"We are solving a problem that is truly pervasive and global," said Ron Dizy, ENBALA President and CEO. "We are excited to have EDC join our investor base, because we know that EDC has deep reach into countries around the world.  As we deploy our smart grid solutions internationally, we will have a strong partner by our side". 

As part of its commercial offerings, EDC is an active investor in direct venture and growth capital investments in addition to partnering with private sector fund managers, both domestically and internationally. EDC enhances the value of its investments by leveraging its unique combination of market and sector expertise, financial tools and deep knowledge of global networks to help its portfolio companies succeed.

EDC's Equity Program currently stands at more than CAD 650 million in commitments.

EDC is Canada's export credit agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business. EDC's knowledge and partnerships are used by more than 8,400 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining, a recognized leader in financial reporting and economic analysis, and has been named one of Canada's Top 100 Employers for nine consecutive years.

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Media contact:
Phil Taylor   
Export Development Canada 
Tel: [phone]
[email protected]