Tandem Expansion Invests in Power Conversion and Management Company Delta-Q
Tandem Expansion has made the first investment from its C$300 million (US$294 million) Tandem Expansion Fund I, L.P in Delta-Q Technologies Corp. Delta-Q supplies power conversion and power management products for electric drive vehicles with more than 500,000 units in use on vehicles such as golf cars, aerial work platforms, industrial floor cleaning machines, and Neighborhood Electric Vehicles.
The $17-million (US$16.7 million) investment will be used to fund Delta-Q’s product development and overall corporate growth plans. Delta-Q’s management estimates that the market for its power conversion and power management products will grow to approximately $1 billion by 2015 due to continuing market adoption and new application growth in areas such as neighborhood electric vehicles, recreation, power sports, industrial work vehicles and plug-in hybrid/pure battery electric vehicles.
Tandem Expansion is a private investment firm focused on growth capital for high-potential Canadian technology companies. The initial closing of the fund was in December.
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