IngeniArts and its revolutionary UGOWORK® batteries for forklifts attract the attention of major Quebec investors

IngeniArts and its revolutionary UGOWORK® batteries for forklifts attract the attention of major Quebec investors

IngeniArts and its revolutionary UGOWORK® batteries for forklifts attract the attention of major Quebec investors 440 227 fernandezrp

PRESS RELEASE
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Transportation electrification
IngeniArts and its revolutionary UGOWORK® batteries for forklifts attract the attention of major Quebec investors

Quebec City, April 8th, 2019 – Quebec technology enterprise IngeniArts will benefit from the expertise of businessmen Louis Têtu and Pierre Marcouiller who, along with Investissement Québec, have chosen to invest in the development of the company and its UGOWORK® batteries aimed at the global forklift market.

This contribution from three investors successfully completes a new round of funding for the high-growth company which works closely with big names in its field including Toyota, Crown, Groupe Robert, Bridgestone, Diageo, Sleeman, Courchesne Larose, and many more.

“Being joined by such renowned organizations and business people is an additional mark of confidence in our company’s standard of excellence and the uniqueness of its technology. With multiple projects in Quebec, Canada and the United States, there’s a vast market potential and the expertise of our new partners will be of great help in managing our growth effectively,” points out Philippe Beauchamp, Cofounder and President of IngeniArts Technologies.

“The incredible team behind IngeniArts is targeting a niche market and as yet largely unchartered waters for technology companies. It’s a pleasure to be able to contribute to its success,” asserts Pierre Marcouiller.

“In five years, IngeniArts has managed to develop radically innovative technology, combined with a much more efficient business model for its customers, challenging the established modus operandi of forklift fleet managers. It’s a true honour to be able to help boost the growth of outstanding Quebec entrepreneurs,” Louis Têtu goes on to say.

“We are proud to offer our support to an innovative local manufacturer operating in the green technology sector which has developed an unparalleled product and business model. Investissement Québec is delighted to join forces with prominent private investors and contribute to the growth of a major Quebec player with the potential to dominate the North American scene in the field of lithium-ion batteries for forklifts,” asserts Investissement Québec President and CEO Pierre Gabriel Côté.

PAY THE BATTERY JUST LIKE A CELL PHONE
IngeniArts is the first company to adopt the Energy as a Service – EaaS concept. Its UGOWORK® batteries have the capacity to transmit data usage and performance in real time to the company which then invoices clients solely for the energy consumed by their forklifts; it’s a business model similar to the one used by telecommunications providers when charging for the use of cellular phones.

“As soon as a customer operates 2,000 hours or more per year, the EaaS formula will generate significant savings, as well as provide incomparable peace of mind,” Philippe Beauchamp points out.

UGOWORK® batteries are clean, safe and easy to use. Featuring a built-in charger, they can be plugged into any electrical outlet. They integrate seamlessly with all available models of forklift and their thermal management system guarantees they will work even in the worst conditions, making it the greatest innovation to date in the field of lithium-ion batteries for forklifts.

ABOUT INGENIARTS TECHNOLOGIES
Founded in 2015, IngeniArts is a high-tech company with, at its helm, a multidisciplinary team dedicated to designing innovative solutions for the storage and supply of energy in the field of electric vehicles. The first product developed by the company is the UGOWORK® battery, destined for the high capacity forklift market where non-efficient and polluting lead-acid batteries are currently being used.

ABOUT INVESTISSEMENT QUÉBEC
Investissement Québec’s mission is to promote the growth of investment in Québec and thereby contribute to economic development and job creation across the province. It supports businesses at all stages of their development by offering a comprehensive range of financial products including loans, loan guarantees and equity investments. Moreover, it oversees the administration of tax measures and carries out foreign investment prospecting initiatives.

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SOURCE:
IngeniArts Technologies (UGOWORK®) | ugowork.ca

MEDIA CONTACTS:
Philippe Béliveau | philippe@fernandezcom.ca
T 418.704.1559, ext. 225 | C 418.559.0580

Roxanne Fortier | roxanne@fernandezcom.ca
T 418.704.1559, ext. 222 | C 418.805.2351