Calgary-based Radicle Group, a developer of compliance-grade carbon credits, has raised a debenture financing to support its growth. No financial terms were disclosed. The round’s investors included Telus Ventures, the venture capital arm of Canadian telecommunications company Telus Corp.
CALGARY, AB, Sept. 9, 2021 /CNW/ – Radicle Group Inc. (Radicle), the leading Canadian player in the carbon credit ecosystem, is pleased to announce an investment by TELUS Ventures, Canada’s most active corporate venture capital fund, and other investors as part of its debenture financing round.
With operations in Canada, the US, and Brazil, this funding will enable Radicle to enter new markets to help organizations across the globe monetize their environmental, social, and corporate governance (ESG) efforts. It will also support further development and updates to Radicle’s proprietary software to ensure alignment with emerging reporting requirements being demanded by regulators, clients, and their supply chains.
“As the leading Canadian developer of compliance-grade carbon credits, we are committed to making a difference by enabling planet-positive solutions to reduce emissions, balancing people, planet, and profit,” said Ed Alfke, CEO of Radicle. “On behalf of Radicle, we are very pleased that TELUS Ventures has made this commitment to work with us. They share our mission of helping organizations across the globe in their ESG efforts.”
To date, Radicle has worked with more than 3,000 clients, generating CAD$100M in value through carbon credits; removed six million tonnes of carbon dioxide from our atmosphere; and traded over US$300M in environmental commodities.
“TELUS Ventures is focused on enabling an ecosystem of innovation by partnering with disruptive, market-transforming companies, including those with a focus on sustainability,” said Mario Mele, vice president Corporate Strategy, TELUS Ventures. “As we come together to tackle environmental challenges unlike any we have faced before, it’s more important than ever that we support those companies making a difference for future generations. With a strong alignment in culture and mission, our investment in Radicle is an opportunity for TELUS as a global leader in social capitalism to advance its commitment to sustainability by supporting organizations possessing strong ESG principles.”
Radicle plans to use the funds raised to scale up their operations and expand into new business lines and geographies to capitalize on the extensive growth expected throughout the carbon credit ecosystem.
About TELUS Ventures
As the strategic investment arm of TELUS Corporation (TSX: T, NYSE: TU), TELUS Ventures is one of Canada’s most active corporate venture capital funds. TELUS Ventures invests globally in companies from Seed to Pre-IPO with a focus on innovative technologies such as AgTech, HealthTech, Connected Consumer, IoT, AI, and Security to actively drive new solutions across the TELUS ecosystem. Led by a team of experienced operators, investors and executives, the Ventures team is passionate about creating positive social impact through financial tools and has invested in more than 90 companies since inception. For more information please visit: ventures.telus.com.
Radicle helps guide today’s progressive companies towards tomorrow’s sustainable future. From our early beginnings in Calgary, Canada, when we developed one of the world’s first software platforms to measure, qualify, and aggregate greenhouse gas emissions, we’ve now taken root internationally to leverage data, insights, and technology to safeguard our shared tomorrow. Radicle works with agriculture, energy, forestry, manufacturing, commercial, and financial services to enable planet-positive solutions by increasing efficiency while lowering costs and emissions. We believe that financial and environmental sustainability are two sides of the same coin: balance between the two is possible. Visit radiclebalance.com to learn more.