Item - 2025.TA10.5

The Board of Directors of the Toronto Atmospheric Fund:

1.  Approved an investment of up to $4.5 million as a working capital facility, subject to the terms and conditions outlined by the Direct Investment Committee and set out in the Confidential Attachment 1 to the report (April 11, 2025) from the Vice President, Impact Investing, Toronto Atmospheric Fund remain confidential in its entirety, as it contains information that involves the security of property belonging to the City or one of its agencies or corporations.

2.  Directed the Vice President, Impact Investing to implement the investment subject to the satisfaction of Toronto Atmospheric Fund's solicitor.

3.  Directed that the confidential information contained in Confidential Attachment 1 to the report (April 11, 2025) from the Vice President, Impact Investing, Toronto Atmospheric Fund remain confidential in its entirety, as it contains commercial and financial information, supplied in confidence to the Toronto Atmospheric Fund, which, if disclosed, could reasonably be expected to significantly prejudice the competitive position or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization.

The Direct Investment Committee (DC) recommends an investment of up to $4.5 million in a company providing a specialized, integrated Direct Current Fast Charging (DCFC) and Battery Energy Storage System (BESS) solution. The investment is in the form of a short-term working capital facility which will support the installation of fast charging within the Greater Toronto and Hamilton Area and across Ontario, matching the term of a government backed post-construction grant program. The investment is aligned with Toronto Atmospheric Fund's mandate of Accelerating Electric Vehicle (EV) Uptake and Accelerating Net-Zero Electricity focus areas. This proposed allocation complies with Toronto Atmospheric Fund's investment policy and target portfolio.