Montreal-based cleantech growth-equity fund Inerjys will form a strategic partnership with the Hydro-Quebec Research Institute to innovate in clean technologies, including renewable energy generation, advanced energy storage, and smart-grid technologies.

The partnership will facilitate joint development, financing and testing of utility-oriented energy and smart grid technologies at Hydro-Quebec’s research institute.

Inerjys’ vertically integrated investment model combined with Hydro Quebec’s research and development will help mitigate the impediments for utility-scale renewable energy development.

Speaking of the strategic agreement Inerjys partner Eric Ouaknine said that the partnership will provide both the fund and the research facility access to the best of cleantech opportunities available.

"As we seek to increase renewable energy’s share of the global market, we are excited to partner with one of the world’s largest producers of renewable energy," said Ouaknine.

"This partnership opens the way to foster more innovation into clean energy technologies for the benefits of Quebec’s companies and the clients of Hydro-Quebec," added Hydro-Quebec Research Institute general manager Denis Faubert.