Participated · Equity · Sep 2019

VEERUM develops a visual operations platform that lets industrial teams access, analyze, and collaborate on rich 3D and geospatial data for their assets. In 2025 the company highlighted major product roll-outs, including VisOps, an advanced shutdown and turnaround planning suite, and the VEERUM 3DVAULT for centralized geospatial data management and governance. It also introduced a single-tenant VEERUM DigitalTWIN offering to further enhance data security and scalability for clients. VEERUM positions these offerings as critical as industrial operators face rising risk, shrinking margins, and increasingly complex facilities. The firm has earned multiple workplace accolades, achieving Great Place to Work certification three years running and being named a 2023 Best Workplace in Alberta. Financially, VEERUM bolstered its growth plans with a $12 million Series B round aimed at cementing its visual operations standard across industry. No revenue or user figures were disclosed in the articles, but the funding signals continued investment in product expansion and market penetration.

Participated · Series C · Jun 2013

Skyonic develops SkyCycle™, a thermolytic chemical process that captures CO2 emissions and converts them into marketable, carbon-negative chemical products. The process is reported to capture CO2 at an estimated cost of $16–$25 per ton, below industry averages. Products from the process include hydrochloric acid and calcium carbonate (limestone), which can be used in glass, paper, cement, paint, PVC pipe and other applications. Skyonic is testing the technology at a demonstration scale at the Capitol Aggregates Cement Plant in San Antonio and is building a commercial-scale plant using its SkyMine® technology. Led by founder and CEO Joe Jones, the company is pursuing commercialization and international growth. Financially, Skyonic recently raised $12.5M and also joined a CAD$500k grant from the Climate Change and Emissions Management Corporation to support development toward commercialization. Skyonic develops technologies that extract and mineralize carbon dioxide from industrial flue gas into commercial products such as baking soda, hydrochloric acid and limestone while scrubbing SOx, NOx and mercury. The company builds new and retrofittable plants designed to produce carbon‑negative chemical products at low cost. Skyonic plans to use the recent financing to build a commercial‑scale carbon capture and mineralization plant at Capitol Aggregates Cement in San Antonio, Texas, which is expected to enable the profitable removal of more than 300,000 tons of CO2. The company also intends to advance its global IP portfolio of carbon chemistry solutions and fund R&D and operations. Skyonic was founded in 2005 by inventor and CEO Joe Jones. Its recent financing and grant activity indicate capital support for commercialization and scale‑up. Skyonic has developed an electrolytic carbon-capture technology, SkyMine, that selectively removes CO2, acid gases and heavy metals from flue gas and recycles them into hydrochloric acid, sodium bicarbonate and other byproducts. The company is based in Austin, Texas and was founded in 2005 by CEO Joe Jones. Skyonic is building a carbon capture and utilization plant at Capitol Aggregates in San Antonio, Texas; once operational in 2014 the facility is expected to capture 83,000 short tons and offset an additional 220,000 short tons of CO2 annually. The firm intends to use the recent funding to support construction costs for the U.S. plant, advance its global IP portfolio of green carbon chemistry solutions, and for R&D and operations. Financially, Skyonic has received the first portion of $9M as part of a committed $35M Series C financing. Backers on this tranche include Northwater Capital Management, ConocoPhillips, BP and PVS Chemicals alongside existing investors such as Carl Berg and Zachry Corporation.

Led · Equity · May 2012

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.

Participated · Series B · May 2011

General Fusion develops magnetized-target fusion technology that uses deuterium-tritium fuel, a magnetic field generated by current through the fuel, and a liquid lithium wall compressed by steam-driven pistons. The company recently activated LM26, a half-scale prototype of a commercial-scale reactor, and had aimed for scientific breakeven in 2026 when commissioning the device. After laying off at least 25% of staff in May, the company publicly appealed for funding and said it is still pursuing scientific breakeven, while listing intermediary goals of heating plasmas to 10 million and 100 million degrees Celsius. The firm reported that the new cash will allow more time to run LM26 and work toward key scientific milestones. Prior to this round, General Fusion had raised $440 million in funding and was founded in 2002. Given the limited size of the fresh funding, the company appears likely to prioritize nearer-term scientific milestones to try to secure additional investment. General Fusion develops a practical Magnetized Target Fusion (MTF) approach to commercial fusion energy and is headquartered in Richmond, B.C. The company is advancing its Lawson Machine 26 (LM26) demonstration program to achieve temperatures above 100 million °C (10 keV) and a scientific breakeven equivalent. Management expects the technology to be capable of providing clean fusion energy to the grid by the early to mid-2030s. The company was founded in 2002 and is funded by an international syndicate of energy VCs, industry partners, and technology investors. Recent financing activity includes a CA$20 million investment—CA$10 million each from Canadian Nuclear Laboratories (CNL) and BDC Capital—to accelerate LM26 and commercialization work. The LM26 program has attracted over CA$71 million in public and private investment since its 2023 launch. General Fusion pursues a Magnetized Target Fusion (MTF) approach that uses a proprietary liquid‑metal liner mechanically compressed by high‑powered pistons to create short, high‑temperature fusion pulses without large superconducting magnets or laser arrays. The company is building LM26, a demonstration machine designed to reach key technical milestones and de‑risk commercialization of its technology. LM26 aims to achieve plasma temperatures over 100 million degrees Celsius by 2025 and progress toward a deuterium‑tritium breakeven equivalent by 2026; its plasmas will be approximately 50% scale of a commercial machine. General Fusion says a commercial plant design would produce roughly 230 MW from two 115 MW machines and could power about 150,000 homes. The company reports having built more than 24 plasma prototypes, filed over 170 patents, and conducted more than 200,000 experiments at its Canadian labs. It plans to commercialize zero‑carbon fusion power in the early to mid‑2030s while continuing R&D at its Richmond, B.C. headquarters. General Fusion is developing a Magnetized Target Fusion (MTF) approach centered on its newly announced Lawson Machine 26 (LM26), to be built at its Richmond headquarters. LM26 is designed to achieve fusion conditions of over 100 million degrees Celsius by 2025 and to progress toward scientific breakeven by 2026. The machine will validate the company's ability to symmetrically compress magnetized plasmas at scale by integrating its operational plasma injector (PI3) with a new lithium liner compression system. LM26 is intended as a cost-efficient, fast-moving demonstration to de-risk and accelerate General Fusion’s Demonstration Program and support plans to provide commercial fusion electricity by the early to mid-2030s. Over the next two to three years the company will work closely with the UK Atomic Energy Authority to validate LM26 data and incorporate it into the design of a planned commercial-scale demonstration in the UK. The company is led by CEO Greg Twinney and Founder and Chief Science Officer Dr. Michel Laberge. It recently raised capital and grant support to expand operations and its business reach. General Fusion pursues commercialization of Magnetized Target Fusion (MTF) to deliver practical, carbon-free power. The company is advancing a power-plant scale Fusion Demonstration Plant at the UKAEA’s Culham Centre for Fusion Energy and has expanded technology development at its Vancouver headquarters and a new facility adjacent to Oak Ridge National Laboratory. General Fusion has created a Market Development Advisory Committee composed of nine leading energy companies and clean-energy users to shape commercialization and market adoption. The company reports broad financial support from private investors and from Canadian, U.K., and U.S. government sources to accelerate near-term initiatives and milestones. General Fusion emphasizes customer-focused development and is preparing for a larger financing round in 2022 to support aggressive pursuit of its program.