Canada Growth Fund (CGF) has announced a $58 million investment in dcbel, a Montreal-based company developing bidirectional EV charging technology integrated with home energy management. The funding is part of a larger $80 million financing round, with Idealist Climate Impact Fund LP and other investors contributing up to $22 million.
The investment will fuel dcbel’s commercialization efforts across North America and Europe, while keeping its headquarters in Canada, protecting intellectual property, and creating high-quality jobs.
Founded in 2015, dcbel has developed around 50 patents across six power electronics and power conversion technologies. The company’s Ara home energy solution combines solar energy storage, EV charging, and AI-powered energy optimization, allowing homeowners to reduce electricity costs and protect against blackouts.
“Scaling up companies and protecting Canadian intellectual property is essential as Canada works to improve its competitiveness,” said Yannick Beaudoin, CEO of Canada Growth Fund Investment Management. “dcbel has developed an innovative optimization solution to meet increasing consumer demand for energy efficiency.”
dcbel’s Marc-André Forget, CEO, emphasized the importance of capital partners in growing clean tech firms, calling CGF’s investment a “pivotal inflection point” for the company.
CGF, launched in 2023, has now committed nearly $2.3 billion across five provinces, backing Canadian clean tech companies working toward commercialization.
Idealist Climate Impact Fund, an existing investor in dcbel, reaffirmed its confidence in the company’s smart, cost-efficient energy solutions. “We look forward to continuing to work with the dcbel team as they scale their business globally,” said Pierre Larochelle, co-Managing Partner at Idealist.
dcbel’s advanced technology aligns with global trends in electrification, grid resilience, and sustainable energy, positioning the company as a key player in the smart home energy revolution.