EnerTech Capital forms new partnership

EnerTech Capital is pleased to announce it has entered into a strategic partnership with Devon Canada.

Under the terms of the partnership, EnerTech will bring forward to Devon technological opportunities for potential commercial application.

Bryan Helfenbaum, manager, Technology Development at Devon who helped source the partnership for Devon sees tremendous opportunity in leveraging the deal to gain a competitive advantage in a tight marketplace.

“EnerTech may review up to 1,000 ideas a year, but might only invest in a dozen, so they have a lot of exposure to what is out there. This high volume of idea flow is what excites us,” he said.

“EnerTech will ultimately act as a kind of middle man between potential technology and Devon: we advise EnerTech on what may be impactful to our business, and then they identify the opportunities.”

EnerTech’s Managing Director, Wally Hunter, thinks these kinds of partnerships with industry are win-win.

“Devon is a great partner for EnterTech with its focus on and openness to the integration of new technologies into their heavy oil business,” said Hunter.

“Devon gets to be on the ground floor of evaluating and potentially piloting new technologies, and entrepreneurs have access to a real-world sandbox to trial their innovations. Together we will collaborate, share knowledge and explore new commercialization strategies.”

Founded in 1996 and with offices in Philadelphia, Toronto, Montreal, Menlo Park and Calgary, EnerTech invests in early to growth stage companies that offer products or services that dramatically improve the profitability of producing or consuming energy. The firm has managed approximately $500 million worth of investments to help over 60 companies make energy more efficient, reliable and cost effective.

For Helfenbaum, innovation doesn’t happen in isolation: “Sometimes it can be like looking for a needle in a haystack – wearing boxing gloves. Fortunately, through these kinds of partnerships, we may be able to stay ahead of the pack and maybe remove the boxing gloves.”

About Devon Canada

Devon Canada Corporation is the Canadian operating division of Oklahoma-based Devon Energy Corporation, a leading independent energy company. Devon’s Canadian head office is located in Calgary, Alberta with development and production focused on world-class heavy oil properties in northeastern Alberta. The company’s portfolio provides stable, environmentally responsible production and a strong platform for future growth to build shareholder value. Learn more about Devon Canada, visit www.commitmentrunsdeep.com.

About EnerTech Capital

EnerTech Capital is a private investment firm focused on innovation in the energy and power industries: early to mid-stage companies that offer products or services that dramatically improve the profitability of producing or consuming energy.  Founded in 1996, the firm has managed approximately $500 million and has delivered 32 exits.  EnerTech Capital is currently investing out of its fourth fund and has offices in Philadelphia, Toronto, Montreal, Calgary and Menlo Park.

For more information visit: www.enertechcapital.com

CONTACT: Wally Hunter:  416-363-8563  whunter@enertechcapital.com

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