Canadian Energy Innovation on the Global Stage: Two Canadian companies selected for Techstars’ first energy technology cohort – Crux OCM and Interface Fluidics
Techstars LLC., a world-leading technology accelerator and investment fund, announced today that two Calgarian start-ups are selected for the highly competitive Techstars Energy Program in partnership with Equinor (formerly Statoil).
Crux OCM and Interface Fluidics are both Calgary-based start-ups with disruptive technologies that will be joining the first energy cohort of ten start-ups in Oslo, Norway. Techstars Energy Program accelerates companies’ success, compressing two years of company growth into three months. The program enables start-ups to access fast-track industry partnership opportunities, mentoring, and its powerful network of over 1.5 million mentors, founders, investors, and corporate partners across 150 countries.
“The unique partnership between a leading energy company like Equinor and Techstars, together with partners KONGSBERG and McKinsey & Company, provides a great opportunity for companies that aspire to shape the future of energy. These ten start-ups now get the opportunity to gain traction through deep mentor engagement, rapid iteration cycles and fundraising preparation,” says Audun Abelsnes, Managing Director for Techstars Energy.
“It is very exciting to have two companies from Calgary selected for this program that had hundreds of applicants from 38 countries -a clear indication of the talent pool in Canada, we are excited to get started and help more entrepreneurs succeed.” says Abelsnes. “I will come to Calgary and Canada early next year looking for extraordinary talented energy companies like Crux OCM and Interface Fluidics for our next cohort.”
Alberta is a global leader in the development of innovative technologies and has a track record of making a positive impact in the energy industry. “The opportunity to be a part of Techstars Energy Program, gaining access to the highest quality of mentors and customers in the world, speaks to the strength of the Alberta technology ecosystem,” says Stuart Kinnear, Co-Founder and CEO Interface Fluidics. Vicki Knott, Founder and CEO Crux OCM continues, “the Techstars Energy Program is a world leading accelerator program and we are excited to leverage these new international contacts to launch our products with customers globally.”
“Calgary’s business community continues to inspire and commercialize technologies. We are extremely proud of Interface Fluidics and Crux OCM’s innovative technologies that are being developed in our business community. It’s refreshing to see companies like these being recognized on this global stage. Congratulations to them both” said Calgary Chamber of Commerce President and CEO, Sandip Lalli.
Techstars Energy Accelerator in partnership with Equinor is a three-month intensive start-up accelerator for those who work on disruptive solutions within oil and gas, new business models, digitalization and renewables. Only ten innovative companies from around the world were selected out of hundreds of applicants to work out of Equinors’ office in Oslo, Norway, meeting with industry leading energy companies and program partners.
The program commences September 10th and concludes on December 5th, 2018 with an industry Demo Day. For more information: https://www.techstars.com/programs/energy-program/ and https://www.techstars.equinor.com/en/about.html
Techstars is a worldwide network that helps entrepreneurs succeed. Techstars was founded in Boulder, Colorado in 2006 and has expanded rapidly to become one of the top accelerators in the world, working with some of the most powerful brands.
Quick facts: - Operate 38 accelerator programs across 5 continents - Run startup weekends and programs across 150 countries in 1,000 cities every year - Network includes over 1.5 million people including mentors, founders, investors, and corporate partners - Worked with over 1,250 companies to-date who have raised over USD$4.4 billion and have a combined valuation of USD$12 billion - Techstars alumni have an incredible track record of success with over 90% of companies being either acquired or are still active - Has a USD$300 million Techstars Venture Fund
Crux OCM utilizes AI and real-time optimization to enable semi-autonomous operation of pipelines, reducing the risk of operation by 10X and increasing volumetric throughput up to 4%. The pipeline specific, AI driven, advanced predictive control application functions as “auto-pilot” to the customer’s existing SCADA and control system to assist in set-point execution while still allowing Operators to maintain full control over the pipeline. Crux OCM is part of the Zone Start Ups accelerator program in Calgary powered by Ryerson Futers and GE. www.cruxocm.com
Interface Fluidics is an oilfield laboratory company with a step-change nanotechnology platform. This platform enables energy companies to produce more oil, more efficiently, and sustainably. For the first time, high quality fluid data is truly accessible. With access to more decision-critical fluid data ten times faster than traditional methods, billions of dollars in value are unlocked. This breakthrough platform utilizes microfluidic technology adapted from the biomedical sector to reach the extreme temperatures and pressures of oil and gas reservoirs. www.interfacefluidics.com