If your enterprise or project is commercial-ready and meets our investment criteria, let’s dig in further to see if we’re well matched.
Types of Financing
- PROJECT: For developers seeking project finance in excess of $1 million, we will invest during the construction (post final engineering drawings) and take-out phases in projects and will provide funding at the developer, general partner (GP) and project levels.
- ENTERPRISE: For entrepreneurs seeking $100,000 to $2,000,000 in financing, our preference is to invest post venture capital but pre Series A or bank financing. We create flexible finance structures, relying on the credit worthiness of the purchasers rather than the enterprise. To serve the need of growing enterprises with several products, we can invest over $500,000 to enable greater scale potential, using milestone reward-based financing structures.
- FUND: For private equity and debt funds, TAF will invest up to $500,000 in mandate-aligned debt funds where returns are expected within three years. We will also make similar investments in strategically aligned patient capital funds which have nominal expectations for returns prior to seven to ten years.
Are we well matched?
What’s your technology readiness?
- Concept stage or only bench proven: We won’t invest. But get in touch so we can learn more and see if there are other ways we can support you.
- New/Early stage: Will consider investing if founders’ equity is invested; there are experienced executives and team members, and a pipeline of potential projects with several verging on our having entered into an LOI.
- Demonstration after one or more successful field tests completed: Will consider investing.
- Financing vehicles: Mezzanine for construction, long-term project financing, either as subordinated debt with participation in cash flows or LP or both
- Proven outside of North America: Will consider investing.
- Financing vehicles: Non-control position in the developer, building internal capacity to close the pipeline and build more pipeline opportunities
What’s your enterprise maturity?
- Venture capital or pre-venture capital: We won’t usually invest but contact us so we can get to know you.
- Post venture capital: Will consider investing if you’re a cash-flow positive multiple-product vendor with large markets in and beyond the GTHA.
- Financing vehicles: Convertible and other types of subordinated debt, with upside.
We're looking for down-to-earth blue-sky thinking
Current finance focus
We are interested in any enterprise or project that has significant potential to reduce carbon emissions and air pollution. At the moment, we’re particularly interested in financing:
- Renewable energy: Renewable energy and storage, particularly in the renewable natural gas space. Recent example: a project run by BerQ RNG
- Building energy efficiency: Energy efficiency retrofits and new construction projects in large and mid-sized buildings (commercial, industrial, residential – not single-family), including fuel-switching.
- Zero emission vehicle technology: Efficiency, electrification, modal shift, transportation demand management and other opportunities to reduce emissions associated with personal and freight transportation.
What happens after a potential investee contacts TAF? Usually:
- We research the industry, the business, and the management team and determine if there is a fit for both sides.
- If there’s a fit, we introduce the opportunity at an Investment Committee meeting and get some direction on pricing and structure.
- We will work with the business to complete our due diligence and negotiate a non-binding term sheet. At this stage we require detailed financial information as part of any application for investment, including, but not limited to, financial statements; an overall project budget if applicable; and the identification and status of all other funding.
- We make a full application to the Investment Committee.
- If the application is successful, we make a presentation at the next Board of Directors meeting and ask for approval. Board meetings occur every four months and usually occur 45 days after a calendar quarter end. The Board is the final arbiter.
- If the application is approved by the Board, we move to close.
Toronto Community Housing Corporation - $2,841,800
Toronto Community Housing Corporation (Sparroway)
TCHC is Canada’s largest social housing provider. This project will involve financing for energy retrofits across 175 walk-up apartments through installation of a variety of conservation measures to reduce utility costs, improve resident comfort, and positively impact GHG emissions.
BerQ RNG - $1,150,000
Renewable Natural Gas
TAF invested $1.15 million in a $6.45 million project, led by Oakville-based BerQ RNG, that involves installing and operating refining equipment to create renewable gas from food waste in Ontario. Approximately 111,000 tonnes of carbon emissions will be reduced over the project’s 15-year life. The experienced BerQ team has six additional RNG projects planned with an estimated 944,000-tonne reduction in carbon emissions.
CLEARAS Water Recovery - $1,000,000
Algae-Based Pollution Control
TAF made a C$1 million investment in CLEARAS Water Recovery, through the Montcalm Capital Fund I LP, that aims to commercialize a proven climate solution for wastewater. TAF is the first Canadian funder of this innovative company, which is leveraging a further US$9 million. CLEARAS has created a non-chemical solution for cleaning wastewater: algae and captured carbon dioxide get added to wastewater, in a closed greenhouse-like controlled environment. The algae grows, consuming carbon, nitrogen and phosphorus in the process. The end result: clean water, algae for fertilizer, and reduced carbon emission.
Efficiency Capital - $372,409
Woodgreen Community Services
Woodgreen Community Services operates a community housing complex of 12 buildings, 7 with are being upgrades as part of this project. A variety of conservation measures to reduce utility costs, improve resident comfort, and positively impact GHG emissions.
Epic Investment Services - $1,000,000
One Planet Living Real Estate Fund
This Fund has been established to finance the development of carbon neutral real estate projects throughout Ontario.
One Planet Living Fund - $1,000,000
One Planet Living Fund (OPLF) will help developers to move to net zero buildings. It provides early-stage capital for projects that commit to rigorous standards of environmental responsibility and long-term sustainability, allowing developers to attract additional funds from traditional sources. The fund is professionally managed by a seasoned team and Windmill Development Group will oversee all aspects of planning, construction, implementation, and certification. Projects funded through OPLF could reduce 3.2 million tonnes of carbon emissions a year in the Greater Toronto and Hamilton Area and help to spur on market transformation and building code improvements.
Efficiency Capital - $249,742
Scarborough Heights Co-Operative Homes
Scarborough Heights Co-operative homes consists of an 11 storey building with 108 apartments loacted in Scarborough. A variety of conservation measures to reduce utility costs, improve resident comfort, and positively impact GHG emissions.
Scarborough Heights Co-op - $355,000
Multi-Measure Energy Retrofit
Scarborough Heights Co-op undertook a retrofit through an ESPA, Energy Saving Performance Agreement. Conservation measures include: new makeup air unit with variable frequency drive, high-efficiency boiler, building automation system, variable frequency drives added to hot water pumps & booster pump system, CO detection system in garage, LED lighting, weather stripping exterior doors, resident training, and ultra-high efficiency toilets, aerators and low-flow showerheads. Total financing was $600,000. Financing was a combination of TAF financing and the City of Toronto’s Better Building Partnership loan program, arranged by Efficiency Capital.