November 7th, 2017 Calgary Alberta – EnerTech Capital (EnerTech) is pleased to announce today a strategic partnership with ENMAX Corporation (ENMAX) that will see the two organizations collaborate in the field of emerging technologies in the utility industry. Together, EnerTech Capital and ENMAX will explore new commercialization strategies for technologies within ENMAX and through EnerTech’s global network investment opportunities in the power technology sector.
“We are very excited to have such a strong partner in ENMAX, a leading Canadian utility committed to exploring and advancing innovative technologies that provide enhanced value to its customers and improve the efficiency of its operations,” said Wally Hunter, Managing Director, EnerTech Capital. “We believe our strategic collaboration will lead to many opportunities for ENMAX to partner with our existing portfolio companies and foster new innovation within ENMAX for the benefit of its customers.”
“We are pleased to partner with EnerTech, as this leading technology investment firm offers us excellent exposure, reach and access to emerging technologies in the utility business,” said Gianna Manes, President and CEO, ENMAX. “EnerTech’s extensive history and domain expertise in this space will help us identify many great technology opportunities that further optimize our operations, and provide excellent benefits for our customers. We look forward to working with them and building a very strong partnership that will serve us and our customers well.”
The collaboration ties in closely with EnerTech’s history in the power industry. Originally founded in 1996, the firm has successfully invested in 63 companies in the energy technology sector since that time. Investing from its fourth fund of just under $120 million, EnerTech continues to strategically make investments broadly across the energy technology sector with a strong focus on utility and “behind the meter” grid-edge technologies.
ENMAX is joined by several other EnerTech strategic Partners & LPs that include; Newalta, Hatch, Waste Management, Engie, SoCal Gas, INO, IREQ (Hydro Québec) and SMUD (Sacramento Municipal Utility District).
About EnerTech Capital
EnerTech Capital is a private investment firm focused on innovation in the energy and power industries: early to mid-stage companies that offer products or services that dramatically improve the profitability of producing or consuming energy. Founded in 1996, the firm has managed approximately $500 million and has delivered 35 exits. EnerTech Capital is currently investing out of its fourth fund and has offices in Philadelphia, Toronto, Montreal, Calgary and Menlo Park.
About ENMAX
ENMAX Corporation, through its subsidiaries, makes, moves and sells electricity to residential, small business and large commercial customers and is headquartered in Calgary, Alberta, with offices in Edmonton. ENMAX Power Corporation owns and operates transmission and distribution infrastructure in Calgary and ENMAX Energy Corporation owns diverse electricity generation facilities throughout the province. Since 2007, ENMAX has been named one of Alberta's Top Employers. ENMAX Energy is currently the retailer of choice for both The City of Calgary and The City of Edmonton.
www.enmax.com
For more information:
CONTACT: Wally Hunter: 416-363-8563 whunter@enertechcapital.com
CONTACT: Gina Sutherland: 403-689-6150 gsutherland@enmax.com
