FastCAP acquires drilling technology assets from Calmena
FastCAP Exploration Technologies Ltd, a subsidiary of FastCAP Systems Corp, has acquired key technology, assets and team members of Calmena Energy Services Inc’s directional drilling technologies. According to the Calgary-based Calmena, the consideration comprised US$1 million in cash and the provision of US$1.2 million in kind. Based in Boston, FastCAP is a manufacturer of energy storage equipment for fleet vehicles. Since its founding in 2008, the company has received funding from several sources, including U.S. clean energy lender WindSail Capital Group. Calmena is a diversified oilfield services company.
20 May 2014•2 mins read
