{"id":240082,"date":"2024-04-17T07:00:08","date_gmt":"2024-04-17T11:00:08","guid":{"rendered":"https:\/\/eocycle.com\/?p=240082"},"modified":"2024-04-17T07:00:33","modified_gmt":"2024-04-17T11:00:33","slug":"eocycle-technologies-receives-25-million-of-financing","status":"publish","type":"post","link":"https:\/\/eocycle.com\/nl\/eocycle-technologies-receives-25-million-of-financing\/","title":{"rendered":"Eocycle Technologies Receives $25 Million of Financing to Bring Low-Cost Clean Energy to Rural America and Europe"},"content":{"rendered":"\t\t<div class=\"et_pb_section et_pb_with_background et_section_regular breadcrumbs_section\">\n\t\t\t<div class=\" et_pb_row breadcrumbs_row\">\t\n\t\t\t\t<div class=\"et_pb_column et_pb_column_4_4 breadcrumbs_column\">\n\t\t\t\t\t<div class=\"et_pb_code et_pb_module breadcrumbs_module\">\n\t\t\t\t\t\t\t\t\t\t\t<\/div> <!-- .et_pb_code -->\n\t\t\t\t<\/div> <!-- .et_pb_column -->\t\t\t\n\t\t\t<\/div> <!-- .et_pb_row -->\t\n\t\t<\/div>\t\t\t\n\t\t<p>[et_pb_section fb_built=&#8221;1&#8243; admin_label=&#8221;section&#8221; _builder_version=&#8221;4.16&#8243; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row column_structure=&#8221;3_4,1_4&#8243; admin_label=&#8221;Line&#8221; _builder_version=&#8221;4.17.4&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;3_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_post_title author=&#8221;off&#8221; date_format=&#8221;M j Y&#8221; categories=&#8221;off&#8221; comments=&#8221;off&#8221; featured_image=&#8221;off&#8221; admin_label=&#8221;News Title&#8221; _builder_version=&#8221;4.17.4&#8243; background_color=&#8221;rgba(255,255,255,0)&#8221; module_bg_color=&#8221;rgba(255,255,255,0)&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_post_title][et_pb_text admin_label=&#8221;Text&#8221; _builder_version=&#8221;4.23.1&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; global_colors_info=&#8221;{}&#8221;]<strong>Montreal, April 17, 2024<\/strong> \u2013 Eocycle Technologies, the world leader in energy production through \u2018distributed\u2019 wind turbines, today announces it has received $25 million in financing to expand its operations in key markets throughout the US Midwest and Great Plains, as well as in Europe. The deal was led by Export Development Canada, and also backed by the Fonds de Solidarit\u00e9 FTQ, which each invested $10 million. This investment has been complemented by a $5 million loan from Investissement Qu\u00e9bec.<\/p>\n<p>The company manufactures 25 kW and 90 kW wind turbines designed for on-site production of clean electricity at rates significantly lower than utilities can provide. This model is ideal for farms, or commercial and industrial facilities looking to cut their energy costs and meet emissions targets. The term \u2018distributed wind\u2019 indicates that the turbines are connected to the power-grid, meaning any excess power they generate will be sold into the grid, ensuring no power is wasted, and optimizing the user\u2019s revenue and savings. These small turbines are designed primarily for rural areas, and provide a surprising amount of electricity relative to their size.<\/p>\n<p>\u201cGlobal energy production continues to pivot towards renewables not only because of strict regulations to cut emissions, but also because products like Eocycle\u2019s wind turbines can save customers significant cost on their energy bill. Just one of these devices could cut energy costs by over $1 million over the life of the turbine\u201d said Richard Legault, President &amp; CEO of Eocycle Technologies. \u201cNow, these visionary investors have seen the business case for our products as well, and decided to provide the financing necessary to accelerate our expansion in the American and European markets, where the combined total market potential is estimated to be $200 billion.\u201d<\/p>\n<p>The financing will be used to increase staff by more than 50%, bringing on new people in sales, production and customer service, as well as ongoing R&amp;D to further optimize financial returns for users. Eocycle forecasts this will more than double sales next year, and significantly cut the time it takes to deliver operational turbines to customers from Minnesota to Belgium and from Scotland to Colorado.<\/p>\n<p>\u201cEDC is thrilled to support Eocycle and help the company achieve its global growth aspirations,\u201d said Julie Pottier, Senior Vice President, Small Business and Partnerships and Head of Insurance. \u201cEDC understands the importance of supporting the development of renewable energy solutions. Eocycle\u2019s wind turbine technology will play a key role in the global transition to a low carbon economy. The capital raised will aid the company in its scale-up efforts and help it execute on the global demand for its innovative clean technology.\u201d<\/p>\n<p>Following this investment, Eocycle now stands alone in distributed wind power generation, serving multiple markets with its full range of end-to-end services and offering multiple power generation options tailored to meet the needs of customers with a range of diverse requirements.<\/p>\n<p>\u2018\u2019A just environmental transition also means exporting Eocycle\u2019s Qu\u00e9bec-based know-how and products to Europe and the United States. The Fonds is proud to support quality jobs and the growth of a Qu\u00e9bec company having a direct impact on renewable energy offered worldwide\u2019\u2019 added Christian G. Brosseau, Vice President, Private Equity and Impact Investing, Structuring Capital, Energy and Environment at Fonds de solidarit\u00e9 FTQ.<\/p>\n<p>In 2022, the US Department of Energy\u2019s National Renewable Energy Laboratory estimated that in the US, distributed wind \u2018<a href=\"https:\/\/www.nrel.gov\/docs\/fy22osti\/82519.pdf\" target=\"_blank\" rel=\"noopener\">\u2019has the potential to profitably deploy nearly 1,400 gigawatt of energy capacity. This amount equates to more than half of the nation\u2019s current annual electricity consumption<\/a>\u2019\u2019. This may be the reason the US Inflation Reduction Act offers financial incentives of up to 80% for users to make the switch to on-site wind power generation.<\/p>\n<p><strong>About Eocycle Technologies:<\/strong><br \/>\nFounded in 2001, Eocycle Technologies offers energy independence to commercial, industrial and agricultural businesses through the development of profitable wind power solutions. Eocycle\u2019s advanced technology helps our customers slash energy costs while significantly reducing their carbon footprint. These turbines require 50 times less land than solar, and produce energy day and night. Eocycle offers an end-to-end power generation solution, including project feasibility studies, permitting with state and local governments, construction, maintenance and various financing options. This is how we\u2019re making affordable and reliable clean energy more accessible to rural operators who need it. For more information check us out on <a href=\"https:\/\/www.linkedin.com\/company\/eocycle\/\" target=\"_blank\" rel=\"noopener\">LinkedIn<\/a>, on <a href=\"https:\/\/www.youtube.com\/@eocycle3291\" target=\"_blank\" rel=\"noopener\">YouTube<\/a> or <a href=\"https:\/\/eocycle.com\/nl\/\" target=\"_blank\" rel=\"noopener\">visit our website, eocycle.com<\/a>.<\/p>\n<p>\u2013 30 \u2013<\/p>\n<p><strong>Media Contact<\/strong><br \/>\nSteven La Barbera<br \/>\nFTG Media Inc.<br \/>\n647-715-1774<br \/>\n<a href=\"mailto:steve@ftgdigital.com\" target=\"_blank\" rel=\"noopener\">steve@ftgdigital.com<\/a>[\/et_pb_text][et_pb_cta title=&#8221;Subscribe to our newsletter and we\u2019ll keep you up to date on the latest technologies and innovations.&#8221; button_url=&#8221;https:\/\/eocycle.com\/nl\/nieuwsbrief\/&#8221; button_text=&#8221;Subscribe now&#8221; admin_label=&#8221;Call To Action&#8221; _builder_version=&#8221;4.16&#8243; header_level=&#8221;h4&#8243; header_text_align=&#8221;left&#8221; button_alignment=&#8221;left&#8221; text_orientation=&#8221;left&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_cta][\/et_pb_column][et_pb_column type=&#8221;1_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_sidebar orientation=&#8221;right&#8221; area=&#8221;sidebar-1&#8243; admin_label=&#8221;Sidebar&#8221; _builder_version=&#8221;4.17.4&#8243; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; sticky_enabled=&#8221;0&#8243;][\/et_pb_sidebar][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Eocycle Technologies, the world leader in energy production through \u2018distributed\u2019 wind turbines, today announces it has received $25 million in financing to expand its operations in key markets throughout the US Midwest and Great Plains, as well as in Europe.<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","inline_featured_image":false,"footnotes":""},"categories":[54],"tags":[],"class_list":["post-240082","post","type-post","status-publish","format-standard","hentry","category-geen-onderdeel-van-een-categorie"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - 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