Quebec-based startup Aplantex closes CAD$2.8m round to accelerate development

Aplantex, a Quebec-based startup specializing in extracting high-value plant molecules from its proprietary biomass, announced the closing of CAD$2.8 million round of financing led by Frederick Perrault, with participation of the Circular Innovation Fund (CIF) through its Acceleration Program, Cycle Momentum, Investissement Québec, and a number of angel investors. This funding will accelerate the development of the company’s strategic and production plan.

Patrick Charest, CEO of Aplantex: "The Aplantex team is proud of the support from Frederick Perrault, the Circular Innovation Fund, Cycle Momentum and Investissement Québec to scale our green biotechnology. We are accelerating our production and commercialization efforts, consolidating our position in key industries. The valuable lessons from our participation in Cycle Momentum’s 2023 Climate Innovation Super Cohort and the 2023 CIF Accelerator Program have also contributed to our success."

Frederick Perrault, Lead Investor and Board member, Aplantex: "The brainpower, focus, energy, open mindedness and listening skills of the Aplantex team are impressive. By helping current buyers of high-value plant-based molecules circumvent growing supply chain disruptions and significantly reduce their environmental footprints, the Aplantex solution is a real game-changer." 

With its innovative and sustainable approach to creating high-value molecules, Aplantex is uniquely positioned to be a leading pharmaceutical, cosmetics, natural health and food additive supplier. Leveraging its proprietary biomass, Aplantex can ensure continuous production of essential plant-active ingredients for these industries while having a positive and sustainable impact on the environment.

Pierre Fitzgibbon, Minister of Economy, Innovation and Energy, Government of Quebec: "Supporting the growth of our local startups is critical to bringing new innovative initiatives to market. With its green biotechnology process, Aplantex delivers a solution that will help key industries increase productivity in an environmentally responsible way.''

Stéphane Villecroze, Co-founder and Managing Partner, Demeter: "The Circular Innovation Fund is dedicated to scaling solutions that work to mitigate climate change and circular resource use. In addition to funding, we are excited to collaborate with Cycle Momentum through the Acceleration Program to provide services and expertise to the most talented startup entrepreneurs to bring more innovative solutions to the market.''

www.aplantex.ca

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