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.
Investment Process
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.
Investee examples
Efficiency Capital and Brooks Co-operative Homes - $318,000
Energy Retrofit Solution
Brooks Cooperative Homes is located in Mississauga. This project involved 85 units across five low-rise buildings and the installation of a variety of conservation measures to reduce utility costs, improve resident comfort, and positively impact GHG emissions.
Peak Power Energy - $1,000,000
Energy Use Optimization and Storage Company
TAF’s investment will provide capital to fund Peak Power’s development and scalability. Peak Power leads in behind-the-meter energy storage; building optimization; and vehicle to grid integration.
Toronto Community Housing Corporation - $2,840,000
Deep Energy Retrofit Solution
Toronto Community Housing Corporation is Canada’s largest social housing provider. This project is at the Sparroway Complex and involves 175 walk-up apartments. In partnership with TAF’s Retrofit Accelerator, it will substantially reduce utility costs and reduce resident exposure to extreme weather, positively impact GHG emissions, and create dedicated job opportunities for people facing barriers to employment.
BerQ RNG - $1,150,000
Renewable Natural Gas Project
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 Solution
TAF’s investment in will support commercialization of a proven climate solution for wastewater. CLEARAS has created a non-chemical method for pollution control by adding algae and captured carbon dioxide to wastewater. The algae grow and consume carbon, nitrogen, and phosphorus. The result is clean water, algae for fertilizer, and reduced carbon emissions.
Efficiency Capital and Woodgreen Community Services - $320,000
Energy Retrofit Solution
Woodgreen Community Services operates a community housing complex of 12 buildings, seven of which are being upgraded as part of this project. The retrofit will include a variety of conservation measures to reduce utility costs, improve resident comfort, and positively impact GHG emissions.
InvestEco Capital Corp (Sustainable Food Fund III) - $150,000
Healthy and Sustainable Food and Agriculture
InvestEco Capital Corp’s funds are focused on financing companies creating better, more sustainable food & agricultural systems. This is TAF’s third investment with InvestEco, totaling $550,000 in financial commitments.
One Planet Living (Real Estate) Fund - $1,000,000
Carbon-neutral Real Estate Projects
One Planet Living Fund (OPLF) will finance the development of carbon neutral real estate projects throughout Ontario. It provides early-stage capital for projects that commit to rigorous standards of environmental responsibility and long-term sustainability. Projects funded through OPLF will help to spur on market transformation and building code improvements.
Efficiency Capital and Scarborough Heights Co-Operative Homes - $250,000
Energy Retrofit Solution
The building retrofit at Scarborough Heights Co-operative Homes involved an 11-story building with 108 apartments. This project included a variety of conservation measures to reduce utility costs, improve resident comfort, and positively impact GHG emissions.