Capital Q Ventures Inc., an innovator in environmental impact investments, has agreed to an investment commitment and a new capital partnership with OptiFuel Systems, a designer and manufacturer of zero-emission locomotive engines and microgrid power generators.
This partnership is timely as it aligns with impending regulatory deadlines, corporate ESG initiatives, and US Class I Railroad commitments aimed at aggressively reducing greenhouse gas (GHG) emissions and achieving net-zero operations by 2050, according to a news release.
Terms of the investment were not disclosed.
Executives from the firm said in an interview in March that they were seeking $30m in a Series B capital raise.
Michael “Q” Quatrini, CEO of Capital Q® Ventures Inc. and BDC Manager of its flagship fund, Capital Q® Business Development Company, expressed enthusiasm about the new collaboration: “We believe OptiFuel is poised to revolutionize the rail industry, enhancing the security and efficiency of critical supply chains, boosting global competitiveness, and creating a new era of opportunities for skilled trades. Unlike others who simply respond to directives, OptiFuel has spent a decade meticulously planning every aspect of alternative fuel integration for the entire US rail network. Their unparalleled dedication to comprehensive, system-based solutions makes them a standout leader. This is precisely the kind of visionary company we are proud to invest in, and we encourage others to join us in supporting their groundbreaking work.”
Scott Myers, CEO and President of OptiFuel Systems, commented on the partnership, “With the support of Capital Q Ventures, we are poised to accelerate our growth and deliver unmatched value to our customers, enhancing their operations with innovative, efficient, and cost-effective solutions. My team and I are excited about this partnership as it perfectly complements our vision of driving environmental innovation through superior technology and strategic industry leadership.”
