CAMBRIDGE, Ontario, Dec. 17, 2021 (GLOBE NEWSWIRE) -- Cormorant Utility Services (Cormorant), a leading provider of comprehensive solutions to the utility power sector, has partnered with Métis Infinity Investments LP (Infinity LP), a resilient Métis business and investment hub, to create a strategic joint venture - Cormorant Infinity Power Solutions. This strategic alliance is just another step as partners to advance economic reconciliation and integrate Indigenous business into the energy sector marketplace.
This newly created Cormorant Infinity Power Solutions Ltd. Joint Venture is the latest in the evolution of the collaboration between the two companies, which originated in 2020 while working together on a mining project. It was during this time when Cormorant and Infinity LP realized the potential for something greater: the potential to become a new standard of operation where an Indigenous company and a High Voltage Electrical Solutions company can come together and thrive.
"Cormorant is beyond proud and excited to sign a Joint Venture with Infinity LP. Our shared desire to showcase and put our principles into action - advancing Indigenous economic reconciliation in the energy sector - resulting in this innovative JV, is just the start of the work we'll continue to do with Infinity and beyond," said Damian Kulasingham, President, Cormorant Utility Services. "Our model reflects our values and beliefs where Indigenous enterprises lead the way and Indigenous ownership, innovation, and partnerships are the future of the work we do. We are proud to be partners with Infinity LP leading economic reconciliation throughout the energy sector."
Scott Patles-Richardson, CEO and Director of Métis Infinity Investments LP, stated: "We believe our partnership represents the transformative potential of Indigenous economic reconciliation. Working together as established partners creates real opportunities for Indigenous people and communities across Ontario. It's through innovative partnerships like this that illustrate that Indigenous companies can succeed at every level of business and that when they do, industries and communities across Canada benefit."
Cormorant and Infinity are excited to continue their collaborations on projects, employment, and community involvement.
Background:
Métis Infinity Investments (Infinity) was founded by the Métis Nation of Ontario (MNO) to build a robust, stable and self-governing economic base for Métis citizens and communities for generations to come. Métis Infinity Investments is parent to the following subsidiaries: Infinity Equipment Rentals, Thompson Infinity, NorCan Infinity LP, TNT Infinity Crane and Rigging, AlumaSafway Infinity, BrandSafway Infinity, Midlite Infinity, Paragon Infinity, Powell Infinity, and Terracon Infinity.
Infinity Equipment Rentals is a 100% Indigenous wholly owned entity established in 2016 to pursue opportunities in the mining and energy sectors. It is one of the few Indigenous enterprises that has been invited to participate as a Hydro One Networks Inc.'s (HONI) Approved Contractor.
Cormorant provides comprehensive solutions to the energy sector through the following subsidiary companies: PowerTel, EPTCON, OneLine Engineering, and PowerTraxx. At the core of the success of its companies is its ongoing commitment to safety, safety culture, and quality in every aspect of its work. In addition to this, Cormorant is privileged to provide capacity support and mentorship to Infinity through the regulatory aspects found in the high voltage utility sector.
Cormorant is majority owned by CFFI Ventures Inc., which is committed to furthering reconciliation by advancing Indigenous ownership and Indigenous shareholders in the Canadian economy and global markets. Recently, CFFI Venture Inc. concluded the sale of Clearwater Fine Food Inc. to a consortium of First Nations, representing one of the largest single equity transactions with Indigenous peoples in Canada. Cormorant is inspired to build on the legacy initiated by CFFI by embedding reconciliation throughout its work and its relationships.
Contact Information:
Cormorant Utility Services - Fiona Blondin; Director of Indigenous Strategies (fblondin@cormorantutility.com)
Métis Infinity Investments LP (Infinity LP) - Dan Courville; Regional Manager (dan.courville@gmail.com)
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