- TAF’s $1M investment in 7Gen supports nationwide fleet electrification and advances Canada’s climate action goals.
- The shift to electric vehicles could cut 589,000 tonnes of emissions and save $432M in health-related costs.
- Despite infrastructure and funding gaps, fleet electrification presents a $4.6B opportunity for cleaner, healthier Canadian cities.
Canada steps up climate action with TAF’s investment in 7Gen
The Atmospheric Fund (TAF) has invested $1 million in 7Gen, a Canadian company helping businesses switch to electric commercial vehicles. 7Gen operates in Vancouver, Toronto, and Montreal. Its services include financing, EV procurement, charging solutions, and expert support.
This investment supports the push to electrify medium and heavy-duty vehicle fleets across Canada. These gas-powered vehicles currently produce 37% of the country’s transportation emissions. If nothing changes, their emissions could soon surpass those from passenger vehicles.
TAF believes 7Gen’s model can help fix this. Over 20 years, the shift to electric fleets is expected to reduce carbon emissions by more than 589,000 tonnes. This supports Canada’s zero-emission goals and local climate targets in the Greater Toronto and Hamilton Area (GTHA).
Diesel trucks and vans also harm human health. They produce high levels of tailpipe emissions, especially in cities. A University of Toronto study found diesel vehicles in the GTHA are responsible for 9,810 years of life lost every year. That’s equal to $3.2 billion in annual social costs. TAF estimates 46,000 tonnes of air pollutants could be avoided with this investment. That would lead to at least $432 million in health benefits over two decades.
Kristian Knibutat, VP of Impact Investing at The Atmospheric Fund, commented:
“The transition to electric fleets has been slow because of gaps in knowledge, infrastructure, and financing. But, electrifying this sector is a $4.6 billion opportunity. That’s why TAF is backing 7Gen’s high-impact business model for its strong potential to scale and reduce transportation emissions and air pollution in cities across Canada.”
TAF’s investment in 7Gen aims to speed up this transition. Together, they hope to drive cleaner air, healthier cities, and a low-carbon future for Canada.
