A historic contract and a newly publicly traded company
The year 2023 ended on a positive note for motorcoach manufacturer Prevost, signing the largest contract in its 100 years of existence, with a value of 447 million dollars. The Metropolitan Transportation Authority (MTA) of New York State placed an order for nearly 400 coaches, which will keep Prevost busy until 2026 and lead to the hiring of 150 new employees.
Let us also highlight the fact that LeddarTech commenced trading on NASDAQ this past December. Specializing in innovative and comprehensive software solutions for the automotive industry, the company became a publicly traded company after completing a business combination with Prospector Capital Corp.
Local technology that stands out
The region also stood out in the video game sector. Kudos to Larian Studios, whose game Baldur’s Gate 3 received six awards, including Game of the Year, at the Game Awards in Los Angeles in December. Best Independent Game was also awarded to a Québec City studio, Sabotage, for Sea of Stars.
Alfred Technologies just signed an agreement with the Tampa Bay Lightning for managing the inventory and supply of beverages at Amalie Arena, a first in the industry. This partnership will leverage AI efficiency to improve the overall logistics of beverage management.
Congratulations are also in order for the technology business accelerator and incubator LE CAMP, an entity of Québec International, for passing a new milestone: accompanying a total of 500 businesses since its creation in 2015. Number 500 was Eugeria, a startup that commercializes technology solutions to support older adults’ wellbeing. The startup is looking to accelerate its growth in foreign markets.
When transaction rimes with expansion
After acquiring the Vancouver-based engineering firm CWA Engineers in December with help from the Caisse de dépôt et placement du Québec (CDPQ), Norda Stello just announced the acquisition of InnovExplo, a firm specializing in geology and mining engineering. Made in collaboration with the CDPQ and BMO, this transaction will enable Norda Stello to offer integrated services to its clients.
Another local company also made a business acquisition and became the biggest player in its field in Canada. The training centre Ateliers de conversation anglaise (ACA) acquired Montréal firm Prolang – Professional Language Services, almost doubling its number of clients and employees, in addition to bringing its turnover to 8 million dollars.
Investment and funding to help these businesses go further
The Caisse de dépôt et placement du Québec (CDPQ) announced major investments of 125 million dollars in the Quebec company Levio. This amount will allow the digital transformation and IT consulting firm to continue its expansion in North America through business acquisitions.
BOSK Bioproducts received 1 million dollars in financial assistance from Canada Economic Development to improve its capacity to produce compostable bioplastics. This will allow the SMB to establish a manufacturing unit, bringing a tangible solution to one of the most concerning environmental challenges, plastic pollution.
Another company also received substantial funding to support its growth: Folks RH, an SMB dedicated to the creation of tools for human resource management. Thanks to 4.5 million dollars in funding from Desjardins Capital and BDC Capital, the firm will be able to strengthen its service offering and help the businesses that use its solution to increase their productivity.
Conclusive tests and a newcomer in Québec City
Sphaira’s air purifier LIFA showed great efficiency during tests conducted by researchers from the French company VirexpR. LIFA is a complementary tool used to sanitize closed environments (hospital rooms, long-term care facilities, retirement homes, classrooms, etc.) by neutralizing airborne pathogens, including SARS-CoV-2. This device is on its way to receiving its certification for sale and free circulation in North America.
MIGSO-PCUBED, a world leader in project management, increases its presence in Eastern Canada by opening its first office in Québec City, in the Saint-Roch district. This expansion will allow the French firm to offer local expertise to its clients across industries (naval, pharmaceutical, mining, construction, etc.), while also targeting new key sectors, including IT, finance, insurance, and public administration.
The upcoming months will also be very busy for Québec International. From March 18 to 22, a delegation of businesses and team members will travel to Boston along with Québec City Mayor Bruno Marchand for the BuildingEnergy conference. The team is also working on organizing the next Rendez-vous d’affaires de la Francophonie, which will be held from June 12 to 14 at the Québec City Convention Centre. This meeting will be a golden opportunity to connect with the worldwide French-speaking business network, attend a dozen conferences, and meet other entrepreneurs.
Congratulations to all these organizations that are making the greater Québec City region shine! Would you also like to bring your business to new heights? Contact us now! Our team will be happy to support you and your growth!
Carl Viel
President and CEO, Québec International
