Ecofuel Fund


Ecofuel is a venture capital fund and an accelerator that offers specialized and personalized services to cleantech startups. The Ecofuel Fund invests “smart money” in seed and early stage companies that develop and commercialize clean technologies. The Ecofuel Fund, co-founded by Cycle Capital, has $40.6 millions in assets under management and is sponsored by the following investors: Investissement Québec, acting as mandatory of the Government of Quebec, BDC Capital, the investment arm of the Business Development Bank of Canada (BDC), Fondaction, the Fonds de solidarité FTQ and the Centre québécois de valorisation des biotechnologies (CQVB).




Cleantech, Agtech, Energy, Environment, Property & Real Estate Technology/ Smart Cities




North America




Richard Cloutier

Richard is Managing Partner of the Ecofuel Fund and President and CEO of the Ecofuel Accelerator, an early-stage cleantech company accelerator based in Montreal. He boasts more than 30 years of experience in innovation strategy deploying, start-ups launching, business and project development. Before joigning Ecofuel, he was CEO of the Centre quŽbŽcois de valorisation des biotechnologies (CQVB), an organization dedicated to innovation and technology transfer in the bioindustry sector. Prior to that, he was the CEO of Gelkem, a biopharmaceutical private company specialized in therapeutic controlled-delivery. Richard is a lecturer in business startups and innovation, with a specialization in innovative startups and technology transfer at UniversitŽ Laval. He also sits on various boards, including Fonds de Recherche QuŽbec Nature et Technologies and different private societies. Richard is frequently consulted for the elaboration of international trade strategies and has participated in a number of QuebecÕs trade commercial missions overseas. Richard holds a Bachelor of Biochemistry from the UniversitŽ de Sherbrooke and a MBA from the UniversitŽ Laval.