PRESS RELEASE
Concept Geebee Inc., whose electric mobipods have been legally on the road in Québec for nearly three years, has announced the closing of its funding round of one million dollars. With the capital raised, Concept Geebee Inc. will soon be launching several new vehicles, docking stations, and fleet management solutions incorporating artificial intelligence technologies.
Major green entrepreneurship partners
“As the economy gets back on its feet, we are pleased to have raised one million dollars to innovate in transport decarbonation and to contribute to a greener, more sustainable Québec. We are concluding an ambitious fundraising effort while the pandemic is making the economy more complex. I would like to thank our partners for funding a future of clean technologies,” said Sabine Le Névannau, President-CEO of Concept Geebee Inc.
With impetus from its major angel investor Jean Ricard, the company is assuring its development in Québec and beyond. “Our investment in this booming mobility sector, in conjunction with Sherbrooke Innopole and other private partners, will enable Concept Geebee Inc. to obtain the resources required for rapid deployment,” pointed out Mr. Ricard, who now sits on the company’s board of directors. The new investors join the organization’s long-term partners, including C3E led by Donald Angers, and the Economic Development Agency of Canada for Québec Regions.
“Sherbrooke Innopole is proud to support the resilient team at Concept Geebee in the technological development of its sustainable mobility solution through our pre-marketing fund and sector-based expertise. The incorporation of on-board connectivity and artificial intelligence at GEEBEE is the next logical step, in line with both client needs and current trends,” noted Josée Fortin, Director General of Sherbrooke Innopole.
The Business Development Bank of Canada (BDC) is contributing to the company’s marketing efforts through a loan of $300 000, while BMO has offered funding solutions to fulfil the ever-increasing backlog of orders.
Investissement Québec (IQ), through the Innovation Program of the Ministère de l’Économie et de l’Innovation du Québec, is also contributing to the funding through a grant. This assistance will enable, among other things, the deployment of innovative electric mobility infrastructure projects related, in particular, to cargo-type vehicles and next-generation docking stations. This is an ideal complement to the VITE (validation of pilot technological innovations) grant allocated by Sherbrooke Innopole for a technological showcase demonstrating the connectivity features in all GEEBEE vehicles.
Electric cargo vehicles and docking stations coming soon to the province’s municipalities
The company has initiated a strategic shift toward local authorities throughout Québec.
“We are rapidly moving toward our goal of offering a full range of electric vehicles and software solutions to companies and smart cities, so they can optimally operate a fleet of green vehicles, with or without anchoring,” noted Sabine Le Névannau.
In May, the company will launch a pilot project in the city of L’Assomption for the very first three-wheel cargo vehicle featuring optimized battery management using artificial intelligence. “Thanks to IVÉO’s member cities, we can quickly test our innovations before releasing them on the market,” explained Jean Jacques Le Roy, Operations Manager at Concept Geebee.
The company will also be busy creating a technological showcase with the cities of Sherbrooke and Varennes to feature its expertise in connectivity and fleet management optimization. “We rely a great deal on research and development to always be at the forefront of innovation. With the NRC IRAP (National Research Council of Canada Industrial Research Assistance Program), our company is contributing to developing the technologies of tomorrow,” concluded Sabine Le Névannau.
Concept Geebee is positioning itself as a Québec leader in global solutions for sustainable mobility.
