A local company receives $24 million from Fondaction and the Business Development Bank of Canada (BDC) to market its platform aimed at reducing the carbon footprint of supply chains.
“Since 2017, we have been betting that traceability would become mandatory for measuring the carbon footprint. Now is the time to press the accelerator hard,” says Louis Roy, CEO of OPTEL.
The challenge was ambitious for the company established 30 years ago. We had to invest a lot in equity, make three acquisitions and work hard.
End-to-end data
In the end, OPTEL succeeded in developing a unique tool: a platform that captures data throughout a product’s supply chain – from the field, mine or factory to the other end of the world.
The goal? “We are trying to bring supply chains within the limits of the Earth,” replies the leader.
As the need to eliminate our carbon emissions and consume fewer resources grows ever more pressing, companies cannot simply act on their own operations.
They must also take into account the environmental footprint of their suppliers, what are called “scope 3” emissions.
However, in today’s fragmented and globalized economy, the task can be very difficult.
OPTEL wants to solve this challenge by providing precise visibility over the entire supply chain.
Powered by tougher laws
“We’ve been trying to convince big companies for several years,” explains the entrepreneur. Now that there are regulations, everyone is waking up. »
Mr. Roy decided to settle in Europe for a year with his family. This is where regulatory changes are most rapid.
To prevent deforestation, all products entering the European Union that contain palm oil, cocoa, coffee, rubber or even soy will soon have to justify the precise origin of the product.
If the governments here are still “a little shy”, the global movement is well underway, believes the big boss of OPTEL.
Canadian companies will have to follow suit, if only to sell in Europe or to comply with future Canadian and American regulations. It’s also moving south of the border.
Fondaction CSN and the Business Development Bank of Canada seem to agree with this observation.
The first has just invested $13 million in equity. The second, $11 million in loans.
For OPTEL, the development of their market is a godsend: millions of companies will have to use a technology like theirs.