Energy leak detection platform Hifi Engineering raises $5.4 mln in funding
Hifi Engineering Inc has obtained $5.4 million in a new round of financing. The strategic investors were Canadian energy delivery company Enbridge Inc and Cenovus Environmental Opportunity Fund, the venture investment arm of Canadian integrated oil company Cenovus Energy Inc. The Cenovus fund has backed the company since 2009. Investment proceeds will be used to support the next phase of Hifi Engineering's research and development involving adaptation of its fiber optic sensing technology to the early detection of leaks in oil and gas pipelines. Founded in 2007, Hifi Engineering has its headquarters in Calgary.
25 February 2014•4 mins read
