# Airex Énergie

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/airex-energie

- Industry: Renewable Energy
- Headquarters: Laval, Canada
- Website: www.airex-energy.com
- Total disclosed funding: $41M
- Latest round: Series D (Jun 18, 2024)
- Investors on record: 7

## About

Based in Quebec, Canada, and founded in 2014, Airex Énergie Inc., a.k.a. Airex Energy operates as a climate solutions provider that focuses on providing biomass torrefaction systems that produce carbonized products. In June 2024, Airex Énergie Inc. raised an undisclosed amount in venture funding led by SUEZ with participation from Fonds de solidarité FTQ, Investissement Québec, Cycle Capital, and Desjardins-Innovatech.

Airex Energy uses its proprietary CarbonFX technology to convert sawmill by-products, logging residues, and forestland biomass into biocarbon products. The company’s key product includes biocoal, which is made from torrefied wood pellets and serves as a substitute for coal in power stations and district heating plants. Biocoal can also be used as feedstock for sustainable aviation fuel, renewable natural gas, biochemicals, and hydrogen production. The firm also offers biochar, a sustainable solution for carbon sequestration; and biocarbon, an engineered green carbon product specifically developed for the metallurgical industry.

## Funding rounds

- Series D, Jun 18, 2024 — Investment Quebec, Cycle Capital Management, Desjardins Capital, Suez, Fonds de Solidarité FTQ
- Series B, Mar 10, 2023, $38M — Export Development Canada, Investment Quebec, Cycle Capital Management, Desjardins Capital, Fonds de solidarite FTQ
- Seed, Jun 10, 2014, $2.8M — Cycle Capital Management, Desjardins Capital

## Investors

- Cycle Capital Management (https://capitalatlas.ai/funds/cycle-capital-management) — Seed, Series B, Series D
- Desjardins Capital (https://capitalatlas.ai/funds/desjardins-capital) — Seed, Series B, Series D
- Export Development Canada — Series B
- Investment Quebec (https://capitalatlas.ai/funds/investment-quebec) — Series B, Series D
- Fonds de solidarite FTQ (https://capitalatlas.ai/funds/fonds-de-solidarite-ftq) — Series B
- Suez — Series D
- Fonds de Solidarité FTQ — Series D