EnerTech Capital and Invest Alberta Corporation Sign International Memorandum of Understanding with California Mobility Center

SACRAMENTO, Calif.–(BUSINESS WIRE)–California Mobility Center (CMC) has signed a memorandum of understanding with Invest Alberta, an international investment attraction (IAC) Crown corporation, and EnerTech Capital (EnerTech). The alliance paves the way for continental collaboration on regulatory policy and investment strategies designed to advance the future sector of the mobility industry.

EnerTech, a founding partner of CMC, is a venture capital firm headquartered in Toronto, Ontario and Philadelphia, Pennsylvania. Through their Global Strategic Mobility Fund (GSMF), they actively invest in early-stage or growth-stage private companies working in the advanced mobility sector. EnerTech has a long history of building strategic partnerships and innovation ecosystems to provide insights and commercialization opportunities, with the primary goal of future mobility.

“For more than 25 years, we have invested in and partnered with innovative companies driving change in the energy landscape,” said Wally Hunter, CEO of EnerTech. “As co-architect of CMC, we saw how a relationship with IAC and Alberta would help expand the mobility ecosystem we are building in Canada.

“Alberta is quickly becoming a prime destination for clean technology investment, as IAC continues to attract high-value investment to the province, including opportunities in advanced mobility solutions. Through our partnership with CMC, Alberta can become a key player in the Canadian localization plan that EnerTech and CMC are developing in Canada,” said Rick Christiaanse, CEO of Invest Alberta. “We plan to leverage Alberta’s expertise and leadership in hydrogen technologies to attract high-impact investment to the province and expand opportunities for Alberta companies in other markets.

California accounts for approximately 50% of the total electric vehicle (EV) market share in the United States and is the epicenter of climate regulation and policy. The MOU establishes a new cross-continental collaboration around regulatory policy and investment strategies. “CMC’s strategic market location in California provides unparalleled access to the world’s largest electric vehicle market, behind China,” said Mark Rawson, CMC’s Chief Operating Officer. “It’s a competitive advantage, but our business model and our strategic partnerships aren’t limited by California’s borders.”

CMC last month announced a similar collaboration with the Qatar Mobility Innovations Center (QMIC), based in Doha, Qatar. The QMIC partnership increases cross-collaboration in the Middle East in the areas of smart mobility and smart cities.

“Domestic and international alliances with entities like EnerTech, Invest Alberta, QMIC and others create an incredibly rich and diverse partner network that allows us all to get further, faster,” said Rawson. “Now, EnerTech and CMC are developing a localization strategy in the Canadian market to leverage the important ecosystem and international network that CMC has built.

Alectra Inc., a municipal company headquartered in Toronto, Canada, became a CMC member last October. Alectra CEO Brian Bentz joined CMC’s board at the same time. “California is seen by many as a political leader in advanced mobility, becoming an indicator of the direction of the overall market,” Bentz said. “Alectra has made the decision to align with the CMC to help accelerate the creation of an Ontario-based cross-industry ecosystem that can influence regulatory policy in Ontario.

Additionally, Linamar Corporation (TSX:LNR), a Canadian advanced manufacturing company specializing in industrial and mobility market applications, is actively participating in the Ontario mobility ecosystem being built with EnerTech, Alectra and other key players. Linamar also signed on as a CMC member in December last year, with CEO Linda Hasenfratz taking a seat on the CMC board.

“Linamar has played an active role on the boards of EnerTech and CMC,” Hasenfratz said. “These partnerships allow us to play a leadership role in the electrified mobility space, gain insights and make connections faster, and find opportunities through collective action that can accelerate our own strategic priorities. .”

About the California Mobility Center (CMC): CMC is a public-private, not-for-profit entity providing future mobility innovators and industry incumbents access to programs and resources that accelerate the pace of commercialization worldwide and aspires to be the leading innovation hub for global mobility success. CMC was founded by thought leaders in the cleantech industry, including California State University, Sacramento, EnerTech Capital, PEM Motion, Sacramento Municipal Utility District (SMUD), and Greater Sacramento Economic Council (GSEC). CMC is strategically located in Sacramento, California. Its location puts CMC close to the California government, which leads the United States and the world in developing green mobility and technology policies.

About Erin Redding

Check Also

September 5, 2022 Russia-Ukraine News

The last operating reactor at the Zaporizhzhia nuclear power plant has been disconnected from the …