Éocycle Technologies inc.

Éocycle Technologies inc., a Quebec wind-turbine manufacturer, filed an assignment in bankruptcy on 19 October 2026 under court file 500-11-067932-265, with Raymond Chabot Inc. acting as trustee and the proceeding grounded in subsection 102(1) of the Act. The statement of affairs sworn by Richard Legault on the company's behalf, stated as at 15 October 2026, shows assets of $460,001.00 at estimated realizable value against liabilities of $10,965,200.57, of which $10,414,177.00 is secured and $551,023.57 unsecured, against subscribed and paid capital of $42,203,026.00. The bankrupt attributes the failure to revenues insufficient to absorb expenses incurred. Most of the book value of the assets consists of advances to related companies — Xant Renewables at $10,264,550, Eocycle America at $1,715,173, Eocycle UK at $422,366 and Eocycle America LLC at $963 — each of which the debtor estimates will realize nothing. Secured claims as stated include Investissement Québec across three movable hypothecs of $2,000,000, $2,785,514 and $933,654, the Agence de développement économique du Canada at $2,695,009 and Export Development Canada at $2,000,000.