Hifi develops and supplies next-generation fiber optic sensing technologies based on its high fidelity dynamic sensing (HDS™) platform to monitor pipelines, oil and gas wells, mining sites and water utilities. The company has commercial deployments across Canada, the U.S., Europe and South America and holds over 50 patents. Hifi plans continued R&D including a next-generation release of its HDS platform, flow monitoring capabilities, and further AI/ML algorithm development. The company is headquartered in Calgary, Alberta and was named Digital Innovator of the Year at the 2019 Global Petroleum Show. Financially, Hifi completed a $10.0 million equity financing in which BDC joined as a new investor alongside an existing strategic investor. Proceeds are earmarked to accelerate domestic and international commercial growth and to fund ongoing product and algorithm innovation. Hifi Engineering Inc. develops patented fibre-optic technology that uses fibre-optic line as acoustic sensors to accurately pinpoint natural gas leaks around well casings. The system is designed to enable faster and more cost-effective repairs by locating leak sources that are otherwise difficult to find. The technology was initially tested on four Cenovus natural gas wells in southern Alberta and has since been used on about 30 Cenovus wells. Hifi is currently deploying the technology in conventional oil and natural gas operations and is evaluating future use for well monitoring in the oil sands. The company aims to advance applications such as production logging, continuous well monitoring and pipeline monitoring. John Hull, President & Founder, said the goal is to find leaks correctly the first time to avoid costly repeat repairs.

Total raised

$11M

Funding rounds

2

Latest round

Equity

Latest activity

Jul 2019