Canadian Manufacturing

Norda Stelo expands with the acquisition of InnovExplo

by CM Staff   

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Norda Stelo's expanded capabilities will try to meet the increasing need for these resources, ensuring responsible and sustainable practices are at the forefront.

QUEBEC — Norda Stelo announced the signing of an agreement to acquire InnovExplo, a company involved in geology and mining engineering.

As the world pivots towards renewable energies and technological advancements, the demand for critical minerals is surging. This new alliance is an attempt by Norda Stelo to deliver an integrated suite of services across the entire value chain of critical, strategic, and precious metals, as well as industrial minerals, essential to the energy transition. Norda Stelo’s expanded capabilities will try to meet the increasing need for these resources, ensuring responsible and sustainable practices are at the forefront.

This acquisition aligns with Norda Stelo’s vision to become the Canadian leader in smart operations from site to port, diversifying its mining and metals expertise, including gold and strategic minerals.

“Given the essential role of the mining sector in the global economy, the imperative for innovation, environmental stewardship, and social governance has never been greater,” declared Alex Brisson, CEO of Norda Stelo. “Norda Stelo is uniquely equipped to meet these needs head-on, drawing on InnovExplo’s remarkable expertise to elevate our project delivery and client services across the entire mining lifecycle. By integrating InnovExplo’s specialized geological and mining engineering knowledge with our robust impact engineering model, we significantly enhance our capacity to navigate the complex ESG landscape our clients face. Together, we’re focused on nurturing our legacy of innovation and leadership, aiming for impactful growth in our future projects. ”


Co-CEO of InnovExplo, Carl Pelletier, echoed this sentiment, “Joining forces with Norda Stelo represents a pivotal step in our journey. InnovExplo’s legacy of excellence in geology and mining engineering is now magnified through this union. This collaboration combines our deep industry knowledge with Norda Stelo’s technological edge, setting us up to address the mining sector’s evolving needs more efficiently and sustainably.”

This acquisition reflects Norda Stelo’s strategic vision to not only consolidate and develop new markets in North America and internationally but also to champion the crucial role of mining in today’s economy.

CDPQ and BMO are also providing loans as part of this acquisition, which combines the distinct areas of expertise of Norda Stelo and InnovExplo.

“This is Norda Stelo’s second transaction, following an initial investment by CDPQ in 2023 to support its pan-Canadian strategic development plan and accelerate growth,” said Kim Thomassin, Executive Vice-President and Head of Quebec at CDPQ. “CDPQ is proud to be involved in this new acquisition and to continue supporting the development of this Quebec-based company with international ambitions.”


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