UgoWork partners with Fonds de solidarité FTQ, Investissement Québec, Export Development Canada, and Desjardins Technology & Innovation Banking to raise $51M for further transformation of material handling

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UgoWork is an intelligent energy system designed, manufactured and marketed for forklifts. More than a lithium-ion battery, it is a tool that relieves the pain associated with the operation of forklifts running on several shifts per day (typically more than 2,000 hours per year), in the food, pharmaceutical, retail, manufacturing and logistics. Due to lower operating costs and environmental concerns, the electric forklift market is currently gaining shares on internal combustion. However, fleet owners are limited by the performance of lead-acid batteries and worse, waste time with a lot of dangerous handling. The undeniable advantages of lithium-ion mark a major break in the lead-acid era. We believe that this is an era of services where critical activities are now worth outsourcing to real specialists. UgoWork has chosen to distinguish itself from traditional equipment suppliers by providing reliable and efficient energy rather than a simple battery. The business model (Energy as a Service) is therefore an important constituent of the differentiation of our offer.