Cenovus Energy

Cenovus Energy is a Canadian integrated oil company primarily engaged in the development and production of oil sands assets located in northern Alberta. Utilizing specialized methods such as Steam Assisted Gravity Drainage (SAGD), the company efficiently extracts oil from its reserves. In addition to oil sands, Cenovus produces conventional crude oil, natural gas liquids, and natural gas, with significant upstream operations across Western Canada and offshore projects in China and Indonesia. In 2022, the company averaged net upstream production of 786 thousand barrels of oil equivalent per day. Cenovus also operates refining facilities in the United States and engages in commercial fuel operations throughout Canada. The Cenovus Environmental Opportunity Fund, managed by the company and based in Calgary, invests in various sectors, including energy and cleantech, with a focus on environmentally responsible investments.

Jeff Hart

Executive Vice President and CFO

7 past transactions

Husky Energy

Acquisition in 2020
Husky Energy is one of Canada's largest integrated energy companies. It is headquartered in Calgary, Alberta, and is publicly traded on the Toronto Stock Exchange under the symbols HSE and HSE.PR.A. The Company operates worldwide with Upstream and Downstream business segments. Husky's balanced growth strategy focuses on consistent execution, disciplined financial management and safe and reliable operations.

General Fusion

Venture Round in 2015
General Fusion Inc. is focused on developing commercial Magnetized Target Fusion (MTF), a hybrid approach that combines elements of magnetic fusion and inertial confinement fusion to create clean and abundant energy. Founded in 2002 and headquartered in Burnaby, Canada, the company aims to demonstrate and commercialize its innovative fusion technology by the end of the decade. General Fusion's approach leverages recent advancements in MTF, which has been underexplored since the 1970s, positioning it as a practical solution for near-term fusion energy. The company is developing utility-scale fusion power systems and various subsystems, including plasma injectors and acoustic drivers, to support its vision. With backing from a global network of energy venture capital funds and industry leaders, General Fusion seeks to reduce technical risks and accelerate the path toward viable fusion energy solutions.

Hifi Engineering

Venture Round in 2014
HiFi Engineering Inc. specializes in the development of fiber optic sensing systems designed for the oil and gas industry. The company creates advanced monitoring solutions, including sensing cables, downhole tools, and software for data acquisition and interpretation, aimed at applications such as reservoir monitoring, pipeline integrity, and leak detection. Notable products include the HDS MiCro tool for downhole flow and the HDS MaCro system for permanent monitoring of pipelines and reservoirs. Founded in 2007 and headquartered in Calgary, Canada, HiFi Engineering serves North American oil and gas service companies. The company’s technology is supported by over 33 patents and collaborative relationships with major industry players, enhancing its capacity to deliver high-quality data to its customers.

General Fusion

Series C in 2013
General Fusion Inc. is focused on developing commercial Magnetized Target Fusion (MTF), a hybrid approach that combines elements of magnetic fusion and inertial confinement fusion to create clean and abundant energy. Founded in 2002 and headquartered in Burnaby, Canada, the company aims to demonstrate and commercialize its innovative fusion technology by the end of the decade. General Fusion's approach leverages recent advancements in MTF, which has been underexplored since the 1970s, positioning it as a practical solution for near-term fusion energy. The company is developing utility-scale fusion power systems and various subsystems, including plasma injectors and acoustic drivers, to support its vision. With backing from a global network of energy venture capital funds and industry leaders, General Fusion seeks to reduce technical risks and accelerate the path toward viable fusion energy solutions.

Skyonic

Series C in 2013
Skyonic Corporation, founded in 2005 and based in Austin, Texas, is an environmental technology company focused on capturing and converting carbon dioxide emissions into solid materials. Utilizing its patented SkyMine technology, Skyonic transforms flue gases from industrial facilities, such as cement plants, refineries, and power plants, into stable carbonate compounds like sodium bicarbonate, hydrochloric acid, and household bleach. This process not only addresses climate change by mineralizing CO2 but also enables the long-term storage of carbon emissions as solid materials. The company offers retrofittable solutions that allow existing plants to reduce carbon emissions and other pollutants at a commercial scale, thus providing industries with the means to produce carbon-negative products for various applications, including construction and agriculture. In addition to its core technology, Skyonic also provides construction, installation, and maintenance services for the facilities that utilize its systems.

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 systems. Founded in 2008, the company provides innovative solutions for treating challenging water conditions, including turnkey crystallizer systems, ion exchange membrane products, and membrane-stack systems. Saltworks offers a range of technologies, including ElectroChem Advanced Electrodialysis systems, salt splitters for recovering previously scale-limited waters, and ammonia splitters for ammonia removal. Its SaltMaker Evaporator Crystallizer is designed for low-temperature wastewater and brine treatment. The company's systems support various applications such as industrial wastewater treatment, zero liquid discharge, and recovery of acids and bases across sectors like agriculture, mining, and food processing. With a global customer base, Saltworks combines smart design and intelligent automation to help clients reduce brine volume, lower disposal costs, and ensure compliance with environmental regulations.

General Fusion

Series B in 2011
General Fusion Inc. is focused on developing commercial Magnetized Target Fusion (MTF), a hybrid approach that combines elements of magnetic fusion and inertial confinement fusion to create clean and abundant energy. Founded in 2002 and headquartered in Burnaby, Canada, the company aims to demonstrate and commercialize its innovative fusion technology by the end of the decade. General Fusion's approach leverages recent advancements in MTF, which has been underexplored since the 1970s, positioning it as a practical solution for near-term fusion energy. The company is developing utility-scale fusion power systems and various subsystems, including plasma injectors and acoustic drivers, to support its vision. With backing from a global network of energy venture capital funds and industry leaders, General Fusion seeks to reduce technical risks and accelerate the path toward viable fusion energy solutions.
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