CALGARY, AB (March 05, 2024) NGIF Capital (“NGIF”), through Cleantech Ventures, its venture fund investing in cleantech innovation in the natural gas sector, today announced a follow-on investment in its portfolio company, Kinitics Automation Limited (“Kinitics” or the “Company”). The investment was conducted as part of a larger seed financing round, which was led by a syndicate of angel investors in Vancouver, BC.
“Kinitics has been a part of the NGIF ecosystem since 2019 and is one of only a handful of companies that are embedded in our full platform. They have tested their technology through the NGIF Accelerator’s Emissions Testing Centre program for technology validation and accelerated the development of their technology through funding from its Industry Grants program. They have also received an initial equity investment from Cleantech Ventures.” said John Adams, Managing Partner, Cleantech Ventures Fund I. “We are very excited about the progress that Kinitics has made over the past five years. Dean and his team have regularly been hitting their technology development milestones and have demonstrated a clear path to market.”
A leading company in the development of motion control products using shape memory alloy materials, Kinitics manufactures its own line of 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 a spring-loaded electric valve actuator to replace methane venting equipment.
“We are thrilled that NGIF Capital, through Cleantech Ventures, has continued to invest in Kinitics after leading our pre-seed round in 2022,” stated Dean Pick, President and CEO of Kinitics Automation. “We believe that NGIF’s continued support validates our implementation of Shape Memory Alloy and Bundled Wire technology in our actuators and piston pumps. Their support is helping us scale our technology as we transition through to commercialization. We are truly honoured that NGIF has chosen to help position Kinitics at the forefront of developing cleantech.”
Image: Kinitics’ Long and Short KVA Valve Actuator
“The Canadian natural gas industry continues to remain at the forefront of environmental stewardship and innovation. Through investments in companies such as Kinitics, NGIF is further focusing the efforts of the industry to adopt and scale these cutting-edge solutions,” said Timothy M. Egan, President and CEO of the Canadian Gas Association (CGA).
About NGIF Capital
NGIF Capital is a venture capital firm and for-profit investment arm of NGIF with a dedicated team of professionals that operates current and future investment funds. NGIF Capital is unique in how it brings energy industry leadership to every investment with strong connections to every part of the value chain. NGIF Capital currently operates Cleantech Ventures Fund I.
About Cleantech Ventures Fund I
Cleantech Ventures Fund I is a $55 million industry-led venture capital fund that primarily invests in early-stage clean-technology companies. The objective of the Fund is to invest in technologies that lead to environmental performance in the energy industry. 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
Kinitics Automation is a leading developer of motion control products using Shape Memory Alloy (SMA) materials and Bundled Wire technology. Kinitics’ Actuators and Piston Pumps are providing the next generation of automation and process control for multiple industries in the energy, advanced manufacturing, and aerospace sectors. For more information, please visit kiniticsautomation.com
Fund Information:
John Adams
President and CEO, NGIF Capital
Managing Partner, NGIF Cleantech Ventures
613-748-0057
jadams@ngif.ca
Media Information:
Ayoola Ajibare
Communications Coordinator, NGIF Capital Corporation
403-389-2212
aajibare@ngif.ca
