NGIF Cleantech Ventures Leads Investment In Kinitics Automation To Scale Up Disruptive Shape Memory Alloy Technology
CALGARY, AB (February 17, 2022) NGIF Cleantech Ventures (the Fund), a Canadian venture capital fund investing in cleantech innovation in the natural gas sector, today announced an equity investment in actuator company Kinitics Automation Limited.
“Kinitics is utilizing cutting edge shape memory alloy technology to disrupt the linear actuator and piston pump markets. These devices have wide applicability across several critical industries including process control for oil and gas, aerospace, automotive, and advanced manufacturing” said John Adams, NGIF Cleantech Ventures Managing Partner. “We are excited to partner with Dean and his team to accelerate the commercial rollout of their step change innovations in linear actuators and piston pumps.”
A leading company in the development of motion control products using shape memory alloy (SMA) materials, Kinitics manufactures its own line of linear actuators and piston pumps based on the company’s bundled wire technology. Responding to the needs of the natural gas industry, the company has developed an electric valve actuator to replace methane venting equipment.
“We have worked with the NGIF team since 2019 and we couldn’t be more excited to have NGIF Cleantech Ventures lead our pre-seed round” said Dean Pick, President of Kinitics Automation. “This important strategic investment from NGIF Cleantech Ventures is a key step to reaching commercial scale.”
“Canadian energy producers have the highest environmental standards in the world, and Kinitics’ actuators are an important step to reduce or eliminate methane emissions from level control and pressure control devices at well sites.” said Timothy M. Egan, President and CEO of the Canadian Gas Association (CGA).
About NGIF Cleantech Ventures
NGIF Cleantech Ventures is a $50 million industry-led venture capital fund that makes equity investments in early-stage startups. The objective of the Fund is to grow cutting-edge clean technology companies into commercial-scale enterprises. The Fund primarily invests in companies that provide solutions that lead to emissions reductions and other environmental benefits. These solutions are typically focused on existing natural gas production, transmission, distribution, storage, and end-use applications, as well as increased production of renewable natural gas and hydrogen.
For more information, please visit ngif.ca
About Kinitics Automation Limited
Based near Vancouver, BC, Kinitics Automation is a leading company in the development of motion control products using shape memory alloy materials. Kinitics manufactures its own line of Linear Actuators and Piston Pumps based on the company’s Bundled Wire technology, which generates precise linear motion in an electrically operated, compact package without using motors, and requires little infrastructure to implement. These breakthrough products enable new automation opportunities and allow companies to upgrade existing systems to an all-electric solution.
For more information, please visit kiniticsautomation.com
Contacts
Patt Léger
Marketing & PR Media Contact
Kinitics Automation Limited
604-304-1181
patt.leger@kiniticsautomation.com
John Adams
Managing Partner
NGIF Cleantech Ventures
613-748-0057
jadams@cga.ca