Canadian cleantech fund invests in actuator company
SUMMARY
Kinitics is developing technology to replace methane emitting actuators. [Image: Kinitics]
By Dale LunanPOSTED IN:
NGIF Cleantech Ventures, a Canadian venture capital fund investing in innovation in the natural gas sector, said March 7 it had made an equity investment in Kinitics Automation.
Kinitics is developing technology that uses shape memory alloys in valve actuators, replacing pneumatic devices that rely on compressed natural gas.
“These devices have wide applicability across several critical industries, including process control for oil and gas, aerospace, automotive, and advanced manufacturing,” said John Adams, managing partner of NGIF Cleantech Ventures.
Kinitics manufactures a line of linear actuators and piston pumps based on the company’s bundled wire technology. Responding to the needs of the natural gas industry, the company has developed an electric valve actuator to replace methane venting equipment.
“This important strategic investment from NGIF Cleantech Ventures is a key step to reaching commercial scale,” Kinitics president Dean Pick said.
