Courchesne Larose, a leading player in the Canadian fresh fruit and vegetable market counts on a highly effective multishift distribution system with a reliable, efficient material handling fleet to ensure products arrive at peak freshness to client locations.

Quebec, July 31, 2024 – UgoWork™, a premier provider of advanced energy storage solutions for material handling equipment, today announced the closing of $51M as part of its Series C financing. This investment round was led by Fonds de solidarité FTQ, with significant participation from returning investors Investissement Québec (IQ), Export Development Canada (EDC), and includes a new credit facility from Desjardins Technology & Innovation Banking. This financing brings UgoWork’s total funding to $77 million, strongly positioning the company for continued growth and innovation in the energy sector.   Since 2015, UgoWork has empowered top-tier logistics operators to electrify and modernize their fleets with its integrated hardware and cloud software ecosystem. Its user-friendly power solutions and exceptional support transform fleet management, helping operators meet the unprecedented pressure for efficiency in the logistics market.   UgoWork's clients achieve cost savings by reducing the equipment needed to run their operations, offering a significant advantage in the current environment of high-costs and labor shortages. Moreover, its AI-driven cloud platform unlocks peak shaving features to lower energy costs during high demand periods and enhances safety through the use of digital twin technology.   “We are committed to helping our customers make their energy transition by offering the fastest innovation roadmap of our industry. In a $200B material handling market where most equipment is powered by old technologies, we stand at the brink of a new era,” said Philippe Beauchamp, President and CEO of UgoWork. “We believe that data is poised to become a pivotal asset in this business, providing transformative opportunities to redefine our industry. Our ability to seamlessly integrate this data sets our solutions apart and greatly enhances the customer experience.”   “UgoWork’s vision and commitment to creating energy-efficient solutions is impressive. The Fonds is proud to invest and support once again this company, which continues to position itself as a game-changer in the technology sector,” explains Dany Pelletier, Executive Vice President, Private Equity and Impact Investing at the Fonds de solidarité FTQ.   “We are thrilled to work alongside strategic and like-minded partners like le Fonds to support UgoWork’s continued growth and provide a second round of financing through EDC’s Investment Matching Program,” said Lissa Bjerkelund, EDC’s Vice-President, Investments and Mid-Market Lending. “Growing businesses like UgoWork are a testament to the success of Canada’s cleantech sector, and we are proud to support their mission to revolutionize the material handling industry with innovative energy solutions.”   “Being an active contributor to UgoWork’s story of innovation is exactly the kind of role Investissement Québec wants to play with young companies and their teams. We are delighted to support the development of UgoWork’s solutions, which make manufacturing practices more efficient and sustainable. With this new round of financing, the company has all the tools it needs to meet the demands of its many international customers and suppliers, thereby fueling its growth and ensuring it remains competitive both here in Québec and beyond our borders,” declared Bicha Ngo, President and Chief Executive Officer, Investissement Québec.   “UgoWork’s pioneering efforts in electrification and energy management greatly align with Desjardins’ mission to drive sustainable development,” said Mehdi Bakhty, Managing Director at Desjardins’ Tech & Innovation Banking. “By supporting UgoWork, Desjardins’ Tech & Innovation Banking team underscores our commitment to empowering companies with strong fundamentals and technology as well as forward-thinking and adaptable leadership. The company's rapid, while still sustainable growth, coupled with its great position in a market ripe for disruption further enables our willingness to tailor creative ways to support it. This collaboration between major Québec and Canada institutions and the company goes hand in hand with Desjardins’ cooperative values of solidarity, integrity, and community development, and demonstrates our collective dedication to advancing the electrification of industries for a sustainable future,” he concludes.   This new funding will be used to grow the company’s go-to-market efforts, extend its global distribution footprint, accelerate the development of its software and hardware platforms, and expand its headquarters and main production facility.   About UgoWork UgoWork is a pioneering technology company specializing in advanced lithium-ion power solutions for the material handling industry. It develops, manufactures and distributes a fully integrated batteries and cloud software ecosystem that provides actionable insights and helps optimize daily operations and costs for fleet operators. UgoWork transforms traditional energy solutions with its universal and standardized charging infrastructure, continuous field-service monitoring and proactive expertise. Moreover, its Energy as a Service (EaaS) model is tailored for the material handling industry.   Headquartered in Quebec, Canada, UgoWork serves a diverse range of industries, including food and beverage, manufacturing, transportation, and distribution, across North America. The company’s cost-efficient and reliable energy management programs are trusted by numerous Fortune 500 companies. Experience the UgoWork difference by visiting ugowork.com.   Contact Jean-François Marchand Marketing and Customer Success Director jf.marchand@ugowork.com

Quebec, April 4, 2023 – UgoWork™, the leading provider of lithium-ion battery solutions and services for industrial trucks, is excited to announce its expansion into new markets across the United States. At the recent ProMat 2023 event in Chicago, UgoWork showcased its innovative products and services, receiving positive feedback from both customers and dealers, prompting the company to continue fostering relationships with its customers and partners while expanding its operations.   As a complete, end-to-end battery management system, UgoWork's 360-degree approach goes beyond simply "supplying" batteries for a fleet of trucks. Their lithium-ion battery solutions are coupled with comprehensive design and infrastructure support, real-time performance monitoring, flexible payment plans, and end-of-life recycling and disposal. The company’s goal is to help material handling teams optimize their efficiency and decrease both their operational and capital costs.   As UgoWork expands its presence, they are expecting to fill several sales representative positions in the next year to support its growth from coast to coast. The company is also expanding its indirect sales and service network by developing alliances with forklift dealers across the country. "UgoWork is gaining traction and recognition in the industry, but has already established itself as a credible and reliable player," said Tim Ballard, Director of Sales. "UgoWork's success is not only a testament to our innovative products and services, but also our dedicated and passionate team. We're excited to welcome new talent and partnerships as we continue to make an impact in the industry."   UgoWork's President, Philippe Beauchamp, adds, "Our product was born out of frustration voiced by the industry, and our flexibility and reactivity allow us to innovate and provide our customers with the solutions they need. We're excited to bring our expertise to this market and help even more material handling teams reach their full potential."   Don't miss out on the opportunity to partner with UgoWork and maximize the ROI and value of your battery assets. Contact UgoWork today to learn more about our lithium-ion battery solutions and services.   About UgoWork: UgoWork develops, manufactures, and offers energy expertise and innovative lithium-ion power solutions that unlock the possibilities of Energy as a Service for the material handling industry. The company provides a flexible and cost-efficient consumption model that guarantees uptime and peace of mind. Its cloud-based approach to fleet optimization, pay-per-use program, energy insight, continuous field service, uptime guarantee, and end-of-life management enable fleet managers to execute their energy transition seamlessly. UgoWork’s products and energy solutions cater to industrial trucks operating in the food and beverage, manufacturing, transportation, and distribution sectors.   Based in Quebec, Canada, the company offers its advanced, cost-efficient, and proven energy management programs across North America to many fortune 500 companies. Visit ugowork.com.   Contact: Jean-François Marchand Director of Marketing and communications jf.marchand@ugowork.com  

Québec, March 1, 2023 – UgoWorkTM, a Canadian energy solutions provider specializing in lithium-ion batteries and Energy as a Service (EaaS) solutions in the material handling industry, today announced that it will unveil a brand-new lithium-ion battery management solution at ProMat 2023, which will take place from March 20 to 23 in Chicago, IL.   To be showcased at UgoWork’s booth (#N6760) alongside its lithium-ion batteries for industrial trucks, pay-per-use approach and real-time fleet monitoring services, the company’s lithium-ion battery management solution will put material handling team’s in the driver’s seat for more effective and efficient means to track performance levels and energy usage.   “This new platform is akin to business intelligence for both industrial trucks and the batteries that power them,” explained Philippe Beauchamp, UgoWork’s CEO. “We have drawn upon a decade of experience in energy management and most importantly, listened to fleet operator’s challenges, to develop an intuitive solution that is easy to use and provides clear insights to maximize the ROI of lithium-ion batteries, reduce unnecessary expenses, and, overall, accelerate material handling operations throughput. Our ultimate goal is to maintain our success story record with our Fortune 500 clients, who all achieved exceptional outcomes from every perspective.”   To book an exclusive demo of UgoWork’s latest innovations at ProMat 2023, visit get.ugowork.com/promat.   About UgoWork UgoWork develops, manufactures, and offers energy expertise and innovative lithium-ion power solutions that unlock the possibilities of Energy as a Service for the material handling industry. The company provides a flexible and cost-efficient consumption model that guarantees uptime and peace of mind. Its cloud-based approach to fleet optimization, pay-per-use program, energy insight, continuous field service, uptime guarantee, and end-of-life management enable fleet managers to execute their energy transition seamlessly. UgoWork’s products and energy solutions cater to industrial trucks operating in the food and beverage, manufacturing, transportation, and distribution sectors.   Based in Quebec, Canada, the company offers its advanced, cost-efficient, and proven energy management programs across North America to many fortune 500 companies. Visit ugowork.com.    

Québec, November 22, 2022 – UgoWork™, a leading provider of flexible Energy as a Service (EaaS) solutions for industrial vehicles, announced the closing of its all-equity $22.8M Series B financing. This round was led by Fonds de solidarité FTQ, with participation from Export Development Canada (EDC), and existing UgoWork investors Desjardins Capital and Investissement Québec.   Proceeds from series B will be used to accelerate the development efforts of its software and artificial intelligence platform, enabling the Energy as a Service program for their lithium-ion battery lineup. It will also be used to grow the sales, and expand its distribution footprint to meet fast-growing international demand.   In an unprecedented global context whereby supply chains, labor shortage and energy efficiency are top concerns, industrial fleet operators are continuously looking for innovative solutions to navigate this new reality. UgoWork’s cutting edge battery technology and connected platform empower operators to make data-driven decisions to increase output, optimize resources, and take a step towards a zero-carbon footprint. Its Energy as a Service subscription model reduces upfront costs for faster deployment and enables customers with access to the latest technology, connected platform and best-in-class support and updates.   “We warmly thank both our existing and new partners who understand that we are a pioneer in the electrification of industrial vehicles,” said Philippe Beauchamp, UgoWork’s CEO. “We have ambitious goals and aggressive targets to expand internationally with major Fortune 500 customers. Already, we have set high expectations in the market thanks to the performance, innovation and unprecedented business value our solutions offer. We are delighted to have new partners to support us in the next stage of our growth and we are thrilled to create many high quality jobs in the process.”   “UgoWork's innovative solutions perfectly fit into the concept of a circular economy. This is one of the reasons why we are very proud to continue our support for this company," says Marie-Hélène Nolet, Chief Operating Officer of Desjardins Capital. Its founders were pioneers in 2015 by developing a unique technology and business model that has proven to be successful. The demand for UgoWork's solution is growing rapidly and we are confident that the team in place will be able to achieve the growth that will allow them to take a leading position in the market.”   ’’UgoWork stood out for us by its leadership, its desire to innovate and its international reputation. The development of their artificial intelligence and their latest technological advances impressed us. The Fonds believes in UgoWork and will always be there to support and advise the Quebec City based company in its next steps of growth, regarding both technology and exports’’, said Philippe P. Huneault, Vice-President, Private Equity and Impact Investing – Technology and Fund Management, and Chief International Business Development Officer at the Fonds de solidarité FTQ.   This is Investissement Québec’s second round of all equity funding with UgoWork, a testament to the tremendous market opportunity in the company’s solutions and the confidence the portfolio holders have for its future.   “We are proud to reiterate our support in UgoWork in order to enable it to continue developing its expertise and to propel its growth. UgoWork solutions help support our companies in their efforts to reduce their environmental footprints and to promote our energy transition. Investissement Québec embraces its role in helping Québec to become a leader in the green economy, and this intervention ideally serves that purpose” says Guy LeBlanc, President and CEO of Investissement Québec.   About Desjardins Capital Nearly 50 years strong, Desjardins Capital has a mission to value, support and nurture the best of Quebec entrepreneurship. With assets under management of C$2.9 billion as of June 30, 2022, Desjardins Capital helps contribute to the longevity of more than 750 companies, cooperatives and funds in various sectors from across Quebec. In addition to helping to maintain and create many thousands of jobs, this subsidiary of Desjardins Group offers business owners access to a large business network and supports their business growth. For more information, visit our website.   About Export Development Canada (EDC)  Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian businesses make an impact at home and abroad. EDC has the financial products and knowledge Canadian companies need to confidently enter new markets, reduce financial risk and grow their business as they go from local to global. Together, EDC and Canadian companies are building a more prosperous, stronger and sustainable economy for all Canadians.   About Fonds de solidarité FTQ The Fonds de solidarité FTQ invests to build a better society by channeling the savings of its 748,371 shareholders into development and risk capital investments to help Québec transition to a green economy, to a human-centered world of work, and to a healthier society. The Fonds offers businesses unsecured financing and strategic support. With $17.4 billion in net assets as at May 31, 2022, the Fonds has supported 3,620 partner companies and 296,927 jobs.   About Investissement Québec Investissement Quebec’s mission is to play an active role in Quebec’s economic development by stimulating business innovation, entrepreneurship and business acquisitions, as well as growth in investment and exports. Operating in all of the province’s administrative regions, the Corporation supports the creation and growth of businesses of all sizes with investments and customized financial solutions. It also assists businesses by providing consulting services and other support measures, including technological assistance available from Investissement Québec – CRIQ. In addition, through Investissement Québec International, the Corporation prospects for talent and foreign investment, and assists Quebec businesses with export activities.   About UgoWork UgoWork develops, manufactures, and offers energy expertise and innovative lithium-ion power solutions that unlock the possibilities of Energy as a Service for the material handling industry. The company provides a flexible and cost-efficient consumption model that guarantees uptime and peace of mind. Its cloud-based approach to fleet optimization, pay-per-use program, energy insight, continuous field service, uptime guarantee, and end-of-life management enable fleet managers to execute their energy transition seamlessly. UgoWork’s products and energy solutions cater to industrial trucks operating in the food and beverage, manufacturing, transportation, and distribution sectors. Based in Quebec, Canada, the company offers its advanced, cost-efficient, and proven energy management programs across North America to many fortune 500 companies. Visit ugowork.com.   Contact Stéphanie Lemire Senior Marketing Content Specialist stephanie.lemire@ugowork.com  

Quebec, October 19, 2022 – UgoWork™, a Canadian energy solutions provider specialized in the material handling industry, today announced that its UL-listed lithium-ion battery line-up for industrial trucks can now be used to power lift trucks from a major OEM. The name of the OEM remains undisclosed. This announcement comes on the heels of UgoWork’s battery solutions being certified by another, globally renowned OEM.   Following thorough testing and evaluation, the OEM has confirmed that UgoWork’s battery specifications are within the parameters of the company’s lift truck requirements. The approval ensures that the OEM’s lift trucks will perform as intended and will continue to meet all applicable statutory, regulatory and corporate requirements for the vehicle types being powered by UgoWork lithium-ion batteries. As a result, UgoWork batteries are approved for the OEM’s specific class I, II and III lift truck models.   “UgoWork products are designed for the most demanding customers, and compatibility with the lift trucks of reputed OEMs is inevitable,” said Philippe Beauchamp, President and CEO of UgoWork. “Our goal is to provide the highest level of performance, efficiency and safety to our customers. This milestone will facilitate our client’s lithium-ion transition and ultimately, benefit the whole ecosystem,” he added.   Customers may contact UgoWork for more information.   About UgoWork UgoWork develops, manufactures, and offers energy expertise and innovative lithium-ion power solutions that unlock the possibilities of Energy as a Service (Eaas) for the material handling industry. The company provides a flexible and cost-efficient consumption model that guarantees uptime and peace of mind. Its cloud-based approach to fleet optimization, pay-per-use program, energy insight, continuous field service, uptime guarantee, and end-of-life management enable fleet managers to execute their energy transition seamlessly. UgoWork’s products and energy solutions cater to industrial trucks operating in the food and beverage, manufacturing, transportation, and distribution sectors.   Based in Quebec, Canada, the company offers its advanced, cost-efficient, and proven energy management programs across North America to many fortune 500 companies. Visit ugowork.com.   Contact Stéphanie Lemire Senior Marketing Content Specialist stephanie.lemire@ugowork.com

Québec, September 19, 2022 – UgoWork, a Canadian energy solutions provider specializing in lithium-ion batteries and Energy as a Service (EaaS) solutions in the material handling industry, will be showcasing its lithium-ion battery solutions at two US tradeshows this fall. Automotive Logistics and Supply Chain Global (booth 14), from September 20 to 22, 2022, in Detroit, Michigan, and the Southern Automotive Conference (booth 404), from October 5 to 7, 2022.   UgoWork’s lithium-ion battery technology offers stakeholders in the automotive industry unmatched, long-term performance levels that legacy systems simply cannot match, including faster charging, elimination of maintenance, longer lifespan, superior energy efficiency and lower carbon emissions.   These two events represent key milestones for UgoWork as the company continues to expand its inroads in the automotive logistics and supply chain sector. “As OEMs continue to integrate lithium-ion batteries to improve their production capacity, UgoWork is investing to meet the demand of a huge shift in the automotive supply chain,” explained Philippe Beauchamp, President and CEO at UgoWork.   “OEMs and automotive tier 1 companies are incredibly efficient at optimizing their processes and eliminating waste. Backed with proven results, our lithium-ion batteries and energy solutions are positively impacting their throughput and costs while reducing carbon emissions. It is a welcome push for them in the pursuit of their ambitious performance and ESG targets.”   The whole automotive ecosystem is invited to learn more about UgoWork’s solutions by scheduling a meeting during one of the two shows by visiting the Events page.   About UgoWork UgoWork develops, manufactures, and offers energy expertise and innovative lithium-ion power solutions that unlock the possibilities of Energy as a Service for the material handling industry. The company provides a flexible and cost-efficient consumption model that guarantees uptime and peace of mind. Its cloud-based approach to fleet optimization, pay-per-use program, energy insight, continuous field service, uptime guarantee, and end-of-life management enable fleet managers to execute their energy transition seamlessly. UgoWork’s products and energy solutions cater to industrial trucks operating in the food and beverage, manufacturing, transportation, and distribution sectors.   Based in Quebec, Canada, the company offers its advanced, cost-efficient, and proven energy management programs across North America to many fortune 500 companies. Visit ugowork.com.  

Québec, September 29, 2022 – UgoWork™, a Canadian energy solutions provider specializing in lithium-ion batteries and Energy as a Service (EaaS) solutions in the material handling industry, just announced that industry veteran, Tim Ballard, is now the company’s Director of Sales. This is yet another initiative UgoWork has taken as it continues to make inroads across the US and Canada.   Tim has over two decades of proven experience in material handling. After studying at the University of Louisville in Kentucky, he worked in several management positions at ProLift Industrial Equipment, an official full-service and material handling dealership for Toyota.    Apart from an in-depth and pragmatic understanding of industry needs and trends, Tim’s strengths reside in his track record of working in all aspects of material handling, including operations, sales, training and support.   “We are thrilled to welcome Tim to the team,” explained Philippe Beauchamp, UgoWork’s CEO. “When I first met Tim through different projects, I already knew about his incredible reputation in the industry. We have an amazing response from the market and Tim comes at the right time. His approach and personality are a perfect fit in our team, and his contribution to our phenomenal expansion is extremely exciting. His background and rigor will definitely help our entire team achieve the very ambitious expansion goals we have set for the company.”   Tim shares Philippe’s eagerness to pave the way for UgoWork’s innovative approach to energy management for material handling teams. “I was very impressed with UgoWork’s vision and the performance of both its lithium-ion batteries and Energy-as-a-Service (EaaS) model,” he said. “No other manufacturer offers these types of solutions on the market—a solution that truly addresses today’s material handling challenges.”   “What started off as a customer-vendor relationship evolved into something much more. Right away, I saw the advantages of UgoWork’s products and what they could do. The customer value speaks for itself,” Tim added.   His plans for UgoWork in the upcoming months? “I want the business to have the very best sales team in the industry so that we can educate and serve material handling teams across North America about the benefits of lithium-ion batteries and EaaS as compared to other legacy technologies. UgoWork’s future looks very bright indeed.”   The UgoWork team will be at the Southern Automotive Conference from October 5 to 7 in Atlanta, GA. UgoWork will have booths in the Canadian pavilion (#404) and the EV Street display area.   About UgoWork UgoWork develops, manufactures, and offers energy expertise and innovative lithium-ion power solutions that unlock the possibilities of Energy as a Service for the material handling industry. The company provides a flexible and cost-efficient consumption model that guarantees uptime and peace of mind. Its cloud-based approach to fleet optimization, pay-per-use program, energy insight, continuous field service, uptime guarantee, and end-of-life management enable fleet managers to execute their energy transition seamlessly. UgoWork’s products and energy solutions cater to industrial trucks operating in the food and beverage, manufacturing, transportation, and distribution sectors.   Based in Quebec, Canada, the company offers its advanced, cost-efficient, and proven energy management programs across North America to many fortune 500 companies. Visit ugowork.com.   Contact Stéphanie Lemire Senior Marketing Content Specialist stephanie.lemire@ugowork.com