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AEC invests USD$3 million in PillarFour Capital Fund II to provide capital to sustainable energy technology companies.

EDMONTON, October 4, 2022 – Alberta Enterprise announced today that it has invested USD $3 million in PillarFour Capital Fund II to support Alberta energy technology companies focused on reducing carbon intensity and environmental footprint in the oilfield.

“Technology has always been a backbone of Alberta’s oil and gas sector and forward-thinking energy technology companies continue to play a key role in advancing the industry along a path of increasingly efficient and responsible operations,” commented Kristina Williams, CEO of Alberta Enterprise Corporation. “We’ve been engaged with the PillarFour team for the last few years. We are impressed by the portfolio they created in their first fund, and are excited to support them as they continue to invest in Alberta’s energy innovators.”

PillarFour is an investment firm focused on sustainable, energy technology companies. The firm is headquartered in Calgary with an additional office in London, England. The PillarFour investment team leverages decades of operational and financial expertise in energy and technology businesses to support Canadian innovators seeking to scale in Canada, into the US and internationally.

Eighty percent of the companies PillarFour invested in with its Fund I are Alberta based. Among those invested are several low capital-intensive sustainable businesses including environmentally friendly chemicals, downhole tools, waste water treatment, pipeline integrity and insulation companies.

“Our focus is on energy technologies that have an emphasis on environmental stewardship in the oilfield and an ambition to scale up their businesses internationally,” said Matt Colucci, Managing Partner of PillarFour Capital’s Calgary office. “We’re excited by the abundant Canadian technology opportunities we see in the oil and gas sector, and welcome Alberta Enterprise’s investment in our second fund as we seek out innovators that will shape the future of the energy industry.”

About Alberta Enterprise Corporation: www.alberta-enterprise.ca

Alberta Enterprise Corporation promotes the development of Alberta’s venture capital industry by investing in venture capital funds that finance technology companies. We focus on funds that have a strong commitment to Alberta – including a full-time presence in the province. In addition to financial capital, we support Alberta’s venture capital ecosystem by connecting investors, entrepreneurs, and experienced technology executives who share our passion for building a bright, innovative Alberta. As of September 2022, we have committed C$311 million for investment to twenty-nine venture capital funds including Accelerate Funds I, II and III, covering a diverse range of forward-looking industries including information technology, energy and industrial technology, and life sciences.

About PillarFour Capital: www.pillarfourcapital.com

PillarFour Capital is a global investment fund with offices in Calgary, Canada and London, England. PillarFour invests in sustainable, energy technology and innovation companies, targeting investment in companies with high ROIC, low capital intensity and commercial technologies that enhance sustainability and lower carbon intensity in the oilfield. The PillarFour investment team is made up of dedicated energy and technology professionals, offering our investee companies decades of operational, financial, strategic planning and capital markets expertise. We partner with high quality management teams, putting in place strategies that maximize value creation by emphasizing operational excellence, prudent governance, and social license.

Editorial Contact: +1 587-402-6601, info@alberta-enterprise.ca