“The Clean Energy Challenge” initiates the search for heat generation technologies that can reduce greenhouse gas (GHG) emissions.
Montreal, April 28, 2022 – Cascades, a leader in recovery, hygiene and sustainable packaging solutions, and Cycle Momentum, startup accelerator and innovation engine in cleantech, are joining forces to launch an open innovation program to find and deploy heat generation technologies that will reduce greenhouse gas (GHG) emitted from pulp and paper production.
Today, Cycle Momentum and Cascades are calling for applications from innovative companies developing clean energy and heat generation solutions. The solutions sought include the use of renewable electricity or renewable natural gas, green hydrogen, waste materials, biomass, geothermal energy or solar energy. The deadline to apply is June 14th, 2022. For more information, visit: cleanenergychallenge.ca.
The selected companies will be supported by Cycle Momentum and Cascades in developing and implementing their solution. One of them will also have the opportunity to set up a pilot project and receive financial support.
Cascades, a pioneer in the circular economy, offers hygiene and packaging products made mainly from recycled materials. While sustainable development has been in the company’s DNA since its inception, it is continuously striving to take concrete actions to remain ever more sustainable, innovative and value-generating.
Cascades revealed its fourth sustainable development plan in 2021. Using 2019 as a base year, Cascades aims to reduce GHG emissions from its mills (paper manufacturing plants) by 38.7% and GHG emissions from its other activities (paper conversion plants, among others) by 27.5% by 2030.
Furthermore, the open innovation programs deployed in partnership with Cycle Momentum, like the Source of Clean Energy Challenge, are made possible thanks to the financial support of Canada Economic Development for Quebec Regions (CED), as well as the strategic support of Écotech Québec and 2 Degrés, which will also be called upon to act as judges in the application selection process.
“True to its core values and eager to do even more to promote sustainable development, Cascades wishes to use this challenge to demonstrate the potential of fruitful collaborations with the innovation ecosystem to solve climate change-related issues, specifically by further reducing greenhouse gas emissions. In this endeavour, we are pleased to capitalize on the expertise of Cycle Momentum, Écotech Québec and 2 Degrés, as well as on the financial support of Canada Economic Development.” – Mario Plourde, President and CEO of Cascades.
“This challenge is a unique opportunity to work with a major player like Cascades to catalyze innovation and the development of innovative technologies in the green energy sector. To do so, we can count on the collaboration of Écotech Québec and 2 Degrés, which will participate in identifying the best technologies developed by talented entrepreneurial teams.” – Patrick Gagné, CEO at Cycle Momentum
Founded in 1964, Cascades offers sustainable, innovative and value-added packaging, hygiene and recovery solutions. The company employs approximately 10,000 women and men across a network close to 80 facilities in North America. Driven by its participative management, half a century of experience in recycling, and continuous research and development efforts, Cascades continues to provide innovative products that customers have come to rely on, while contributing to the well-being of people, communities and the entire planet. Cascades’ shares trade on the Toronto Stock Exchange under the ticker symbol CAS.
About Cycle Momentum
Cycle Momentum is an accelerator and open innovation platform that brings together an international collective of entrepreneurs, investors and innovators. Our mission is to find innovative solutions to the major ecological challenges facing humanity. Founded by Cycle Capital, Cycle Momentum provides entrepreneurs with training workshops, networking sessions and mentoring, and works with leading companies to stimulate technology acquisition and integration. Cycle Momentum can count on the financial support of the Gouvernement du Quebec, the Fonds Vert, Cycle Capital, Canada Economic Development for Quebec Regions, Investissement Québec, the TELUS Pollinator Fund for Good, Scale AI, Fasken and the City of Montreal. Cycle Momentum also benefits from the collaboration of Écotech Québec and the Zone Agtech.
About Canada Economic Development for Quebec Regions (CED)
CED is a key federal partner in Quebec’s regional economic development. With its 12 business offices, CED accompanies businesses, supporting organizations, and all regions across Quebec into the economy of tomorrow, one that is greener, more inclusive, and move innovative. As a facilitator helping to bring the right partners together around a given project, CED goes beyond just funding promising projects. CED represents an expertise, a network, and investments that support innovation, competition, and growth among businesses and Quebec’s regions to ensure our economy prospers in the long term.
About Écotech Québec
Écotech Québec, the first organization of its kind in Canada, has been representing the cleantech cluster since 2009. It supports local players – companies, researchers, investors, and groups – to accelerate the development, financing and deployment of clean technologies. Écotech Québec collaborates with many organizations, including several located in the regions of Quebec. Écotech Québec is also a founding partner of the Canada Cleantech Alliance, a member of the International Cleantech Network and a founding member of the Solar Impulse Foundation’s Global Alliance for Efficient Solutions.
About 2 Degrés
Incubator specialized in clean technologies, offering personalized support as well as innovation and intellectual potential development programs.
Source: Cycle Momentum