Calgary-based nFluids is the latest company to spin out of Innovate Calgary’s Company Creation incubation program.
nFluids, a company developing a product that harnesses the potential of nanotechnology to enhance drilling fluid performance, believes it is well-positioned for success with a strong corporate foundation combined with research, positive lab results, and an experienced team.
“It’s amazing the amount of work required to build momentum to get a company started,” says Jeremy Krol, vice president, corporate development, nFluids. “The access to individuals with expertise in finance, intellectual property management, legal documentation and communications and marketing were key benefits of working with Innovate Calgary.”
“Innovate Calgary’s connection to the University of Calgary and access to world class researchers, is extremely beneficial,” says David Edmonds, CEO of nFluids. “Equally valuable is Innovate Calgary’s knowledge and expertise related to intellectual property and ensuring there are no encumbrances that may impact attracting partners and financing.”
“Promising lab results, strong market opportunity, the propriety nature of the technology and the outstanding quality and expertise of the researchers were key components that attracted the attention of the Company Creation team,” says Stace Wills, vice president, company creation with Innovate Calgary. “The Company Creation team members, David Edmonds and Jeremy Krol, deserve tremendous credit for taking the opportunity to the next level by conducting extensive research to validate the market opportunity, developing a comprehensive business plan, recruiting a board and advisory team, raising capital, attracting non-dilutive funding, and securing critical field trials with industry partners.”
nFluids was formed in mid-2012 based on patent pending drilling fluid additive technology being developed by Dr. Maen Husein, a professor in the Department of Chemical and Petroleum Engineering at the University of Calgary’s Schulich School of Engineering, and Dr. Mohammad Zakaria in the labs of Dr. Geir Hareland, former industrial research chair in drilling engineering.