Intelligent Wellhead Systems is receiving $1.1 million from Western Economic Diversification Canada toward a clean technology innovation that will enhance environmental and safety measures in oil and gas recovery.
Funding will allow Intelligent Wellhead Systems to scale up manufacturing of the inVision Intervention System product lines. Globally, the unique technology is installed at on- and offshore critical well intervention operations. It enhances the on-site safety of operators and helps protect the surrounding environment.
The inVision technology is a wellhead, or blowout preventer component, that integrates into most high-risk, large asset operation configurations and uses big data to measure efficiencies and reduce greenhouse gas emissions.
As the only company offering this type of service, the Calgary-based company is seeing rapid adoption of the new technology by the global oil and gas industry.
"The timely support from Western Economic Diversification Canada has enabled us to build out our inventory of a truly disruptive technology that positively impacts our planet and people and reaffirms Canada's position as an innovation leader on the world energy stage," Mitchell Carlson, Intelligent Wellhead Systems chief executive officer, said in a statement.