Delta-Q raises $17 Million from Tandem Expansion

Burnaby’s Delta-Q Technologies announced today that it has secured $17 Million in funding from Tandem Expansion. The investment will be used to fund Delta-Q’s aggressive product development and overall corporate growth plans.

Funded in 1999, Delta-Q is a leading technology company that supplies power conversion and power management products for electric drive vehicles with over 500,000 units in use on vehicles such as golf cars, aerial work platforms, industrial floor cleaning machines, and Neighbourhood Electric Vehicles.

Montreal’s Tandem Expansion is a private investment firm focused on growth capital for high-potential Canadian technology companies.

Delta-Q is the first investment from its $300 Million Tandem Expansion Fund I, L.P. which closed in December 2009. The new Fund received investments from a number of leading public, private nad institutional investors including BDC, Export Development Canada, Teralys Capital and the B.C. Renaissance Capital Fund.

Delta-Q was the 2006 Emerging Company of the Year at the BC Technology Industry Association Technology Impact Awards. The 2010 edition of the Awards are on June 8th in Vancouver.

Vancouver’s Capital West Partners was an advisor on the transaction.