On June 1, 2021, Clir Renewables, a cloud-based AI platform in the renewable energy industry, completed its $27 million Series E financing round, co-led by Longbow Capital and ArcTern. The capital raised in the financing round will further develop ‘smart’ products utilizing industry-wide data to evaluate technical and financial risk with more accuracy. This will also enable Clir to accelerate growth within the existing European and North American markets, and grow its presence in Latin America, Africa and Asia-Pacific.
Longbow Capital is a private equity investment management company based in Calgary. BDC Capital is the venture capital arm of the Business Development Bank of Canada.
Osler, Hoskin & Harcourt LLP advised Longbow Capital with a team consisting of Frank Turner, Jacob Young and Stephan Pacholok (Corporate).