Anges Québec members invest $740,000 in Marmott Énergies
Large-scale residential geothermal energy is now possible
Anges Québec members support green technologies with $740,000 investment in Marmott Énergies
Montréal, June 16, 2015 – Residential geothermal energy will now be available on a large scale following a $740,000 investment by Anges Québec members in Montréal-based Marmott Énergies. Investors were attracted by the company's business model, which requires no purchase, installation or future maintenance fees from customers. This facilitates access to this green energy with annual rates that are competitive with other forms of energy. Marmott Énergies is the first company to make geothermal energy so widely available.
Using solar energy stored underground to heat or cool a home, a geothermal system is actually cheaper than electricity or heating oil, while being environmentally friendly, discreet, comfortable and safe. Despite its many advantages, the high initial costs for the purchase and installation of such a system constituted a barrier to its use. With Marmott Énergies, qualified homeowners pay a fixed monthly rate that is both competitive and sheltered from fluctuations in energy prices.
Yves Racine, the investor who led the project at Anges Québec, sees many benefits: “Marmott Énergies has the potential to democratize access to geothermal energy for millions of homeowners in North America. Its ingenious business model is solid proof that it is possible to create collective wealth by reducing our oil consumption and to provide investors with an attractive return on investment while contributing to the fight against global warming.”
For her part, Nathalie H. Tremblay, President and founder of Marmott Énergies, stated: “This investment gives us the necessary impetus to embark on the commercialization of our geothermal solution for homes and apartments in a significant way. Our customers are delighted to finally be able to use geothermal energy, which is recognized for providing outstanding comfort in every season. In addition, we offer a no-fee solution so that they can get rid of their old system.”
And Robert Brouillette, Chair of Anges Québec, added: “Our investor-members have every confidence in this entrepreneur and her team, as well as in the potential for a rapid market expansion of their green solution.’
About Yves Racine
Yves Racine has more than 30 years of experience in developing and marketing specialized products for the electrical industry. He turned Cybectec inc., which he co-founded, into a world-class company, selling electrical substation automation products on five continents. In 2007, the company was acquired by Cooper Power Systems, where he became Director of International Development. Since 2010, Mr. Racine has been President and Chief Executive Officer of Blizzard Technologies, serves on several boards of directors, and serves as a mentor to young entrepreneurs.
About Anges Québec
Anges Québec is a network of 165 private investors that identifies, finances and coaches innovative Québec enterprises with high growth potential. In this capacity, Anges Québec works with a number of key Québec organizations interested in the development and growth of technological innovations. So far, Anges Québec members have invested and reinvested in 70 promising businesses in 70 promising businesses in the seed and startup phases.
About Marmott Énergies
Founded in Town of Mount Royal in 2010, Marmott Énergies is a producer and supplier of geothermal energy offering an alternative to fossil fuels. Its innovative business model makes geothermal energy more accessible by reducing customers' initial investments to a minimum in for a competitive monthly fee. It is breaking down barriers to the widespread installation of geothermal energy and offering a winning solution for citizens, communities and the planet. Marmott Énergies is a member of the Canadian GeoExchange Coalition (CGC). www.marmottenergies.com
Information :
Nathalie H. Tremblay
President
MARMOTT ENERGIES INC.
ntremblay@marmottenergies.com
O. 514 340-5001 / C. 514 515-5001