Canada Growth Fund Leads $55M Investment to Accelerate dcbel’s Bidirectional EV Chargers

Image Credit: dcbel

In a bold move toward accelerating clean energy innovation, Canada Growth Fund Inc. (CGF) has announced a $40 million investment in dcbel Inc., a Montreal-based leader in smart home energy technology. This funding forms part of a larger $55 million financing round, with additional backing of up to $15 million from Idealist Climate Impact Fund LP and other investors. The capital infusion will fuel dcbel’s expansion across North America and Europe, solidifying its role in reshaping the home energy landscape—all while preserving Canadian intellectual property and generating high-quality jobs.

Founded in 2015, dcbel has emerged as a disruptor in the clean energy sector, developing Ara, the world’s first fully integrated home energy management system. This groundbreaking solution unites bidirectional EV charging, solar power generation, AI-driven energy optimization, and grid resilience. Unlike conventional chargers, Ara enables homeowners to harness excess solar power, tap into their EV’s battery as a backup during blackouts, and even sell surplus energy back to the grid. With nearly 50 patents spanning six power electronics technologies, dcbel is spearheading the future of decentralized energy.

Strategic Investment to Scale Impact:

Since launching in the summer of 2023, CGF has committed nearly $2.3 billion across five Canadian provinces, backing cleantech ventures like dcbel. This latest investment aims to accelerate Ara’s market penetration, ensuring its integration with utility energy programs, microgrids, and virtual power plants. Moreover, its vehicle-to-grid (V2G) and vehicle-to-home (V2H) capabilities give homeowners unprecedented control over their energy consumption—lowering costs, increasing resilience, and reducing reliance on fossil fuels.

"Scaling up companies and protecting Canadian intellectual property is essential as Canada works to improve its competitiveness on the world stage," said Yannick Beaudoin, President and CEO of Canada Growth Fund Investment Management Inc. ("CGFIM"). "Consumers are increasingly seeking solutions to maximize energy efficiency and reduce household energy costs, and dcbel has developed an innovative optimization solution to meet this need."

"Developing and scaling breakthrough clean technology requires capital partners at each phase of development, and CGF's unique investment mandate is flexible and aligned with the realities of growing clean technology companies," said Marc-André Forget, CEO of dcbel. "This investment marks a pivotal inflection point for dcbel, enabling us to accelerate our growth and further our mission of providing sustainable energy solutions that empower homeowners and communities."

"Idealist is pleased to make this additional investment in dcbel. We have been shareholders in dcbel since 2023 and have strong conviction that dcbel offers a unique solution to satisfy the growing customer needs for smart, clean and cost-efficient energy solution' said Pierre Larochelle, co-Managing Partner of Idealist. 'We look forward to continuing to work with the dcbel management team as they scale their business globally."

Transaction Highlights:

• CGF injects $40 million, up to $15 million from additional investors, including Idealist, Coatue, and Volvo Cars.

• dcbel expands commercialization efforts across North America and Europe while retaining its headquarters in Canada.

• Ara’s bidirectional charging technology connects to multiple energy services, reducing EV charging costs while offering homeowners backup power for days.

• dcbel’s residential DC charger was the first to receive UL Solutions certification in the U.S., setting a new industry standard.

About Canada Growth Fund (CGF)

A $15 billion public investment vehicle, CGF drives private capital into Canada’s clean economy, derisking investments in low-carbon technologies, businesses, and supply chains. Managed by PSP Investments, CGF actively fosters innovation in clean energy, industrial decarbonization, and climate technology.

With CGF’s backing and strategic investor confidence, dcbel is poised to redefine how homes interact with energy. As the world pivots toward sustainability, resilience, and energy independence, dcbel’s technology stands at the forefront—bridging the gap between electrification, smart homes, and the decentralized grid of the future. A new era of intelligent home energy has begun.