UgoWork receives new financial support, generating over 60 jobs in Quebec
Provider of AI-driven Li-ion battery technology for lift truck fleets receives $3.2 million in financing from the Government of Quebec’s Essor program
UgoWork, a provider of artificial intelligence (AI)-driven Li-Ion battery technology for material handling, has announced that it has secured new financial support aimed at advancing its mission to deliver a cost-effective energy-as-a-service solution. This support will not only propel its growth but also create more than 60 job opportunities within the province of Quebec in the next 36 months, the company added.
The new funding, provided through the Essor program managed by Investissement Québec on behalf of the Québec Government, reflects the recognition of UgoWork's cutting-edge technologies and its significant potential to revolutionize how the material handling sector addresses their energy consumption, the company stated. This financial support will enable the company to accelerate its research and development efforts, further optimize software systems, and expand its operations, UgoWork added.
With this financial support, the company plans to expand its workforce in all departments at its Quebec City headquarters. The creation of highly skilled jobs in energy management, artificial intelligence, automation, production and engineering disciplines such as electrical, mechanical and software, will contribute to the local economy and provide valuable opportunities for professionals in the clean energy sector, UgoWork noted.
“Thanks to its innovative, clean and high-performance material handling solutions, UgoWork is boosting the productivity of many businesses,” added Jonatan Julien, Minister of Infrastructure and Minister for the Capitale-Nationale region. “The creativity and ingenuity of our entrepreneurs are helping to promote Quebec and its expertise in the electrification of transportation around the world.”
“We are thrilled to have received this support, which serves as a testament to the groundbreaking work our team has accomplished in developing AI-driven Li-Ion battery technology,” said Philippe Beauchamp, CEO of UgoWork. “This financial support will not only allow us to advance our technology but also create meaningful job opportunities within Quebec, fostering economic growth while simultaneously addressing the pressing need for sustainable energy solutions.”
UgoWork develops, manufactures, and offers energy expertise and lithium-ion power solutions for industrial truck fleets.
