August 28, 2017
OPAL-RT TECHNOLOGIES Announces a Loan from Investissement Québec
[Montreal, Quebec, Canada, August 28, 2017] – OPAL-RT TECHNOLOGIES is proud to announce a loan from Investissement Québec (IQ), a provincial investment group tasked with promoting and nurturing Quebec’s most innovative businesses, both at home and on the world stage. This loan will allow OPAL-RT TECHNOLOGIES to grow on both fronts, securing new footholds in the international market and developing a new line of simulators aimed at cost-conscious SMBs.
With a total market capitalization of $4.1 billion, one might be forgiven for concluding that Investissement Québec is focused only on the largest firms in the province. With $958M invested in 1246 different projects over the last two years, however, it is obvious that no partner is too small if they have the drive and innovation to succeed in Quebec’s competitive marketplace and beyond.
“Innovation only thrives with access to technology. With our participation in OPAL-RT TECHNOLOGIES’ endeavors, we aim to contribute to the growth and sustainability of a homegrown enterprise with global ambitions. Our support will allow them to greatly increase their client base all while making their technological offering more accessible to those SMBs which dream of the productivity gains enabled by real-time simulation”, declared Pierre Gabriel Côté, President and CEO of Investissement Québec.
OPAL-RT TECHNOLOGIES is wasting no time in putting this investment to good use. The company’s international reach will be strengthened with the opening of two new offices servicing Germany and Latin America, ensuring a foothold into new markets and personalized service for existing and future customers. At home, the entire OPAL-RT product line will be expanded and improved, with the goal of increasing performance as well as lowering cost-to-entry, providing affordable, efficient simulators for SMBs, academic institutions and other organizations that require simple, effective solutions to their simulation and testing needs.
“OPAL-RT is currently undergoing a period of strong growth, the demand for our products constantly increasing. We are always on the lookout for new and emerging markets, at home and abroad. This loan from Investissement Québec will allow us to fulfill our core mission, which is to make real-time simulation accessible and affordable for all”, said Jean Bélanger, President, CEO and CTO of OPAL-RT TECHNOLOGIES.
About OPAL-RT TECHNOLOGIES
Established in 1997, OPAL-RT Technologies develops and markets high performance real-time simulators used by universities, research centers and large corporations working in the automotive, aerospace, power electronics and power grid industries. Over the years, OPAL-RT has taken its place as world leaders in real-time simulation in the field of electronics by distributing powerful simulation and validation systems that feature the latest technology available on the market. For more information, visit https://www.opal-rt.com.
About Investissement Québec
The mission statement of Investissement Québec is to stimulate the growth of investment in Quebec, contributing thusly to economic development and job creation, distributed across all regions of the province. Our group offers a complete selection of financial solutions to businesses, notably loans, loan guarantees and share capital investment, in order to support every stage of development a firm may require. As well, IQ is responsible for the administration of fiscal measures and foreign investment facilitation.
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