Granby, October 28, 2020 – Fondaction is supporting WR Transformateurs with $5 million to support its growth and strengthen its positive impact on society. The Granby SME manufactures a wide range of electrical transformers that have the particularity of being dry type, that is to say cooled by air and not by oil. This technology is increasingly popular in the industry, since it is safer for the environment.
Founded in 2013 by Christian Roberge, the Granby-based company has more than 30 employees who have extensive product expertise and more than fifteen years of experience in the field. The growth opportunities that present themselves encourage the company to opt for a financial partner who can support it in its strategic planning and future acquisitions.
“One of our important clients benefited from tailor-made support from Fondaction. I recognized in this successful partnership exactly what I was looking for for my company, namely a vision of the future that includes both our employees and the positive impacts we can have on the environment and communities,” explains CEO Christian Roberge .
“Fondaction is delighted with the growing links between different companies in its portfolio,” notes Dominique Chaussé, Deputy Chief Investment Officer at Fondaction. The SMEs we support aim for more sustainable development. They know how to demonstrate audacity and integrity, which makes it possible to innovate over the long term and to offer quality jobs as WR Transformateurs does while inspiring its community. »
A growing market
Mining companies are increasingly turning to electrical equipment and environmentally sustainable solutions. Many countries, islands, and landlocked states are replacing their coal-fired generators and power plants with solar or wind farms. These systems are now more efficient, which explains their growing popularity, and they all require transformers. According to the IRENA (International Renewable Energy Agency), the installed capacity of solar-generated electricity increased from 30,000 megawatts (MW) in 2010 to 600,000 MW in 2019. And according to Bloomberg NEF, wind and solar will account for 50% of the world’s electricity in 2050.
If there is another area where the demand for dry-type transformers is exponential, it is in data centers. Thus, from 2017 to 2019, the maximum size of data centers worldwide has increased from 50 to 100 MW. Quebec has 40 data centers, including 10 opened in Greater Montreal between 2013 and 2017. In this sector, several oil-cooled transformers are replaced by air-cooled transformers for safety reasons (fire), environmental protection (oil spillage) and insurability.
A pioneer for 25 years, Fondaction is the investment fund for those who mobilize for the positive transformation of the Quebec economy. To make our economy more efficient, fairer, more inclusive and greener. As a labour-sponsored fund, Fondaction represents tens of thousands of savers and hundreds of companies committed to advancing Québec. He manages net assets totaling more than $2.26 billion invested in hundreds of companies and in the financial markets, favoring investments that generate positive economic, social and environmental impacts in addition to a financial return. Fondaction participates in maintaining and creating jobs, reducing inequalities and fighting climate change. For more information, visit fondaction.com or our LinkedIn page.