Hydro-Québec has sold its subsidiary Cléo to Polara, a Québec company specialized in comprehensive infrastructure solutions for vehicle fleet electrification.

Founded in 2020 by Hydro-Québec, Cléo specializes in commercial electric vehicle (EV) fleet management, namely by offering its smart charging management platform to fleet operators.

This transaction reflects the success of Hydro-Québec’s strategy to launch Cléo in response to the electrification accompaniment needs of commercial EV fleets that were not being met by the market. The young company has reached a significant moment in its growth spurring Hydro-Québec and Polara to consider the timing to be right for the sale.

The two companies said that this transaction will ensure that Cléo remains a Québec business and will enable Hydro-Québec to refocus its activities on its core mission, which includes operating the Electric Circuit (unaffected by this transaction).

Since its beginnings, Polara, part of Groupe Girardin, has asserted itself as a key player in commercial fleet electrification, offering comprehensive and durable solutions for its customers. With this acquisition, Polara will strengthen its ability to accelerate transportation electrification.