Interface Fluidics Raises $6.7 Million in Investments
Interface Fluidics has secured $6.7 million CAD ($5.4 million USD) from five investors to support our technological innovation, which will revolutionize sampling collection and testing for the oil and gas industry. This technology platform will make collecting the data required to reduce freshwater and chemical consumption uniquely accessible by providing an exponentially faster, on-demand approach.
Interface Fluidics was founded in 2015 with the goal of revolutionizing how oil and gas companies think about fluids, both their impact on business decisions and the environment. This has led to breakthroughs for their customers when optimizing exploration and production strategies, and helped companies reduce their environmental impact. This is the third and largest financing round since the company was founded, with more than $11 million USD raised in total.
Equinor, together with partners Shell and TotalEnergies, is also developing Northern Lights, the world’s largest Carbon Capture and Storage (CCS) project. This financing will allow Interface technology to be put in the hands of clients in the field or the lab, cutting down on the shipping of hazardous chemicals and ensuring much faster test results.
“Equinor Ventures is excited to further strengthen the relationship with Interface Fluidics and support the development of their potentially game-changing fluid analysis platform. Their technology could support the management of our existing oil and gas assets and shows potential for applications in carbon emissions reduction,” says Gareth Burns, Vice President of Equinor Ventures.
“Bringing in these foreign investments allows us to grow our team here in Alberta, potentially doubling the number of staff we currently have,” says Stuart Kinnear, Co-Founder and CEO of Interface Fluidics. “It’s a true vote of confidence in Canada’s ability to commercialize innovative technology.”
This investment will help Interface customers reduce emissions and costs. Which comes at the perfect time, considering the recent COP26 announcement for greenhouse gas emission caps for the oil and gas industry. On the impact of this investment, Kinnear says, “This additional capital will accelerate Interface Fluidics’ development of the industry’s first truly accessible fluid property analysis technology. It is another step toward our vision of helping to lower emissions in oil and gas through better data and smaller sample sizes."
The latest round of funding further cements Interface Fluidics’ position as a company that challenges the status quo and is leading the oil and gas sector with cutting-edge solutions-based technology. This once-startup now provides their services to major producers including Suncor, Equinor, Total, Cenovus, BP, Ovintiv, Saudi Aramco, and Petroleum Development Oman.
I work in the marketing department at Interface Fluidics, where I bring a decade of experience in communications and a master’s degree in energy and sustainability. My work revolves around managing Interface’s digital presence and ensuring the messaging matches our vision to reduce clients’ carbon footprints and ensure the responsible development of their oil and gas assets. My background is in writing and digital media, with previous work in the media and non-profit spaces.