Phaze Ventures Participates in Interface Fluidics $4.5M Investment Round Alongside Equinor Ventures
Interface Fluidics announces it's Series-A fundraise of $4.5M USD from leading multinational energy company, Equinor, global accelerator, Techstars and leading early stage energy ventures firm, Phaze Ventures.
Interface Fluidics is a Calgary based laboratory service company with a nanotechnology platform for optimizing oil production and visualizing fluid-fluid interactions, through rapid chemical testing at reservoir temperature and pressure. Interface’s proprietary technology platform allows operators to analyze a variety of downhole chemicals to evaluate the mechanisms and viability in increasing oil recovery. The platform also provides operators with a suite of PVT measurements conducted under micro and nano confinement. Like many step change innovations, Interface leverages a proven technology from the biomedical industry, microfluidics, and has adapted it to the oil and gas sector, disrupting conventional lab testing.
“We have been fortunate to have incredible customers,” said Stuart Kinnear, Interface CEO. “This funding will be used to expand capacity to meet ongoing market demand, ensuring faster delivery to our growing customer base.”
“Interface has been gaining internal traction across multiple business units and across the life cycle of our assets,” said Rannfrid Skjervold, Managing Director at Equinor Technology Ventures. “We see this investment as a strategic opportunity to accelerate the technology development which will result in significant increased oil recovery, revenue growth and cost reduction to our operations.”