Evok Innovations announced its first investments in clean technologies to address the most pressing environmental and economic issues facing the oil and gas industry today.
Evok, a partnership between the BC Cleantech CEO Alliance, Cenovus Energy Inc., and Suncor Energy Inc., has invested in: Mosaic Materials, Metabolik Technologies, DarkVision Technologies, Rotoliptic Technologies Corporation Inc., and the Institute for Breakthrough Energy Technology.
These ventures address an array of environmental and economic challenges across the energy value chain from wellhead to wheels with breakthrough technologies for carbon capture and conversion, industrial efficiency and the treatment of oilsands process water, Evok says.
"This portfolio demonstrates how investing in the commercialization of clean technology can support economic growth and protect the environment," Evok chief executive officer Marty Reed said in a statement.
"Working closely with entrepreneurs and our strategic partners, we will continue to commercialize innovative technologies that both reduce costs and provide solutions to major environmental challenges faced by the oil and gas sector."
Evok says it offers entrepreneurs access to major customers, subject matter experts, and opportunities to pilot and demonstrate innovative technologies.
"These first investments show how our partnership with Evok is supporting valuable innovation to the Canadian energy sector," added Evok board member and Suncor executive vice-president, business services, Eric Axford.
Cenovus Energy executive vice-president Judy Fairburn said the investments could bring substantial enviornmental and economic benefits.
"We're in a global innovation race to achieve the clean energy future we all want, so we need to be globally competitive on cost, environmental performance and agility," said Fairburn, who is also an Evok board member.
With $100 million in funding from Suncor and Cenovus in place, Evok Innovations said it “will continue fueling the transition to a cleaner energy future by investing in clean technology entrepreneurs, proving how we can strengthen both the economy and the environment, now and for the future.”