Radicle announces investment by TELUS Ventures
This funding will enable Radicle to enter new markets to help organizations across the globe monetize their environmental, social, and corporate governance (ESG) efforts.
Technology / IIoT
CALGARY — Radicle Group Inc. (Radicle), a Canadian player in the carbon credit ecosystem, announces an investment by TELUS Ventures, a corporate venture capital fund, and other investors as part of its debenture financing round.
With operations in Canada, the US, and Brazil, this funding will enable Radicle to enter new markets to help organizations across the globe monetize their environmental, social, and corporate governance (ESG) efforts. It will also support further development and updates to Radicle’s proprietary software to ensure alignment with emerging reporting requirements being demanded by regulators, clients, and their supply chains.
“As the leading Canadian developer of compliance-grade carbon credits, we are committed to making a difference by enabling planet-positive solutions to reduce emissions, balancing people, planet, and profit,” said Ed Alfke, CEO of Radicle. “On behalf of Radicle, we are very pleased that TELUS Ventures has made this commitment to work with us. They share our mission of helping organizations across the globe in their ESG efforts.”
“TELUS Ventures is focused on enabling an ecosystem of innovation by partnering with disruptive, market-transforming companies, including those with a focus on sustainability,” said Mario Mele, vice president Corporate Strategy, TELUS Ventures. “As we come together to tackle environmental challenges unlike any we have faced before, it’s more important than ever that we support those companies making a difference for future generations. With a strong alignment in culture and mission, our investment in Radicle is an opportunity for TELUS as a global leader in social capitalism to advance its commitment to sustainability by supporting organizations possessing strong ESG principles.”
Radicle plans to use the funds raised to scale up their operations and expand into new business lines and geographies to capitalize on the extensive growth expected throughout the carbon credit ecosystem.