Cenovus Energy

Cenovus Energy is a Canadian integrated oil company that specializes in the development of oil sands assets in northern Alberta, utilizing advanced techniques such as steam-assisted gravity drainage (SAGD) to extract oil. In addition to its oil sands operations, Cenovus produces conventional crude oil, natural gas liquids, and natural gas, primarily in Alberta, but also has upstream projects offshore in China and Indonesia. In 2022, the company reported an average net upstream production of 786 thousand barrels of oil equivalent per day. Cenovus also operates refining facilities in the United States and Canada, as well as commercial fuel operations throughout Canada, creating a comprehensive portfolio in both upstream and downstream segments of the energy sector.

Jeffrey Hart

Executive Vice President, Corporate and Operations Services

7 past transactions

Husky Energy

Acquisition in 2020
Husky Energy is one of Canada's largest integrated energy companies, headquartered in Calgary, Alberta. The company operates in various regions, including western Canada, the United States, and the Asia-Pacific and Atlantic areas. Husky Energy's operations are divided into upstream and downstream segments. The upstream portfolio encompasses light and medium crude, heavy crude, bitumen, natural gas liquids, and natural gas. The company's heavy oil and oil sands production are bolstered by integrated downstream and midstream value chains. In 2019, Husky's production averaged 290,000 barrels of oil equivalent per day, and it holds approximately 2.1 billion barrels of oil equivalent of proven and probable crude oil and natural gas reserves. Husky Energy emphasizes a balanced growth strategy characterized by disciplined financial management and a commitment to safe and reliable operations.

General Fusion

Venture Round in 2015
General Fusion Inc., established in 2002 and headquartered in Burnaby, Canada, specializes in developing commercial Magnetized Target Fusion (MTF), a hybrid fusion method combining magnetic confinement and inertial confinement principles. The company focuses on creating utility-scale fusion power using its patent-pending MTF concept, which has the potential to provide clean, safe, and economical energy. General Fusion develops key subsystems such as plasma injectors, acoustic drivers, and liquid metal vortex compression tests to advance its MTF technology. Backed by a global syndicate of investors, industry leaders, and technology pioneers, General Fusion aims to demonstrate and commercialize its innovative fusion power plants by the end of the decade.

Hifi Engineering

Venture Round in 2014
HiFi Engineering Inc. specializes in the development of advanced fiber optic sensing systems, hardware, and visualization software designed for downhole and pipeline applications. Founded in 2007 and headquartered in Calgary, Canada, the company offers a range of products, including its HDS MiCro tool for downhole flow monitoring and the HDS MaCro system for permanent pipeline and reservoir monitoring. HiFi Engineering’s systems are tailored for oil and gas service companies in North America, focusing on critical applications such as reservoir monitoring, well integrity assessment, and leak detection. The company’s technology is supported by over 33 patents, showcasing its commitment to innovation in the field. With a team of experienced electrical and software engineers, HiFi Engineering emphasizes the delivery of high-quality data through its cutting-edge sensing technology and software platforms.

General Fusion

Series C in 2013
General Fusion Inc., established in 2002 and headquartered in Burnaby, Canada, specializes in developing commercial Magnetized Target Fusion (MTF), a hybrid fusion method combining magnetic confinement and inertial confinement principles. The company focuses on creating utility-scale fusion power using its patent-pending MTF concept, which has the potential to provide clean, safe, and economical energy. General Fusion develops key subsystems such as plasma injectors, acoustic drivers, and liquid metal vortex compression tests to advance its MTF technology. Backed by a global syndicate of investors, industry leaders, and technology pioneers, General Fusion aims to demonstrate and commercialize its innovative fusion power plants by the end of the decade.

Skyonic

Series C in 2013
Skyonic Corporation is an environmental technology company based in Austin, Texas, founded in 2005. The company specializes in developing patented technologies, specifically its SkyMine system, which captures carbon dioxide emissions from industrial flue gases and converts them into solid carbonate materials, such as sodium bicarbonate, hydrochloric acid, and other useful products. This post-combustion carbon capture and sequestration technology addresses climate change by mineralizing CO2, effectively reducing greenhouse gas emissions from facilities such as cement plants, refineries, and steel mills. Skyonic's innovative approach not only mitigates environmental impact but also enables the production of carbon-negative materials for various applications, including the manufacture of polyvinyl chloride pipes and glass. Additionally, the company offers services related to the construction, installation, and maintenance of its technology and facilities.

Saltworks

Corporate Round in 2011
Saltworks Technologies Inc. is a water technology company based in Richmond, Canada, specializing in the design, manufacture, and delivery of advanced desalination and wastewater treatment solutions. Founded in 2008, the company focuses on providing innovative systems, including turnkey crystallizer systems, ion exchange membrane products, and membrane-stack systems, to effectively treat industrial wastewater and effluent. Saltworks offers a range of products such as ElectroChem Advanced Electrodialysis systems, salt and ammonia splitters, and the SaltMaker Evaporator Crystallizer, all aimed at addressing challenges in ammonia treatment, landfill leachate, and zero liquid discharge management. The company serves a diverse clientele across various sectors, including oil and gas, mining, agriculture, and food and beverage industries. With a commitment to smart design and intelligent automation, Saltworks enables clients to reduce brine volume, lower disposal costs, and comply with environmental regulations.

General Fusion

Series B in 2011
General Fusion Inc., established in 2002 and headquartered in Burnaby, Canada, specializes in developing commercial Magnetized Target Fusion (MTF), a hybrid fusion method combining magnetic confinement and inertial confinement principles. The company focuses on creating utility-scale fusion power using its patent-pending MTF concept, which has the potential to provide clean, safe, and economical energy. General Fusion develops key subsystems such as plasma injectors, acoustic drivers, and liquid metal vortex compression tests to advance its MTF technology. Backed by a global syndicate of investors, industry leaders, and technology pioneers, General Fusion aims to demonstrate and commercialize its innovative fusion power plants by the end of the decade.
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