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ELECTRONICS | Technical & Scientific Instrumentation
coldboretechnology.com

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Founded Year

2012

Stage

Series C | Alive

Total Raised

$17.7M

Last Raised

$14M | 3 mos ago

Mosaic Score

+70 points in the past 30 days

What is a Mosaic Score?
The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.

About Cold Bore Technology

Cold Bore Technology specializes in fracturing optimization software. The company has developed an Industrial IoT-based Electronic Completions Recorder and remote frac operating system deployed by Cold Bore's SmartPAD(TM) service.

Cold Bore Technology Headquarter Location

#106, 5726 Burleigh Crescent SE

Calgary, Alberta, T2H 1Z8,

Canada

403-744-5264

Latest Cold Bore Technology News

Cold Bore Technology Closes $14M Financing

Jul 29, 2021

(Photo: Business Wire) July 29, 2021 08:00 AM Eastern Daylight Time CALGARY, Alberta--( BUSINESS WIRE )--Cold Bore Technology Inc. (“Cold Bore” or “the Company”), the leader in frac completions automation and platform technology, today announced it has closed $14M in growth financing. The round was led by bp ventures with participation from the Canadian Business Growth Fund (CBGF). Existing investors include the Rice Investment Group (RIG), a $200M multi-strategy, energy sector investment fund. Cold Bore is leading a major shift in the completions (fracing) industry towards safer, more autonomous operations by providing oil & gas companies (operators) with a centralized digital platform called SmartPAD. SmartPAD is an end-to-end, fully integrated software and hardware platform designed to collect, analyze, and report data which would otherwise be underutilized. Better utilization of this data unlocks operators’ ability to make step-change improvements across all key performance indicators. SmartPAD deployments are on pace to exceed 100% year-on-year growth in 2021, as more and more operators recognize Cold Bore as a key enabler for keeping workers safe and meeting heightened ESG commitments. Results from a recent SmartPAD implementation with Hibernia Resources, saw the Permian-based producer able to reduce the duration of their completions program by 15 days (27%), with commensurate reductions in cost and emissions. Along with this investment from bp ventures, bp will be deploying Cold Bore’s SmartPAD in bpx energy’s US onshore operations. The technology will support bpx’s efforts to continuously improve its operations. “The oil & gas industry has realized that technological innovation is key to meeting growing calls for reduced emissions and improved returns. Cold Bore is proud to be playing a leadership role in the future of oil & gas operations,” said Brett Chell, Co-founder & President at Cold Bore Technology. “As we scale to meet incredible demand, we’re excited to have a strong strategic partner in bp, a forward-thinking international energy company, and to play a part in helping bp reach its carbon and operational targets. We believe the caliber of our customers and investors demonstrates the market opportunity before us. The future of the oil & gas industry is autonomous operations,” Brett added. Commenting on their 19th investment to date, CBGF CEO, George Rossolatos shared, “We are proud to back Brett and the Cold Bore team alongside bp ventures as part of our first investment in an Alberta-based company and we are excited to work with other entrepreneurs in the province!” About Cold Bore Cold Bore Technology Inc. (“Cold Bore”) is a global leader in completion optimization technology, developing the first Completions Operating System through Cold Bore’s SmartPAD service. For more information: https://www.coldboretechnology.com/ About bp ventures bp ventures was set up more than 10 years ago to identify and invest in private, high growth, game-changing technology companies, accelerating innovation across the entire energy spectrum. Since then, bp has invested almost $700 million in technology companies across more than 31 active investments with more than 250 co-investors. bp ventures focuses on connecting and growing new energy business. It makes strategic equity investments across a portfolio of relevant technology businesses including advanced mobility, low carbon and digital. For more information visit: https://www.bp.com/en/global/bp-ventures.html About Canadian Business Growth Fund (CBGF) Launched in 2018, the Canadian Business Growth Fund (CBGF) provides long-term, patient, minority capital to ambitious entrepreneurs to fund growth and expansion of mid-market businesses in Canada with investments between $3 and $20 million. An evergreen investment fund with capital commitments of $545 million from Canadian financial institutions, CBGF is committed to long-term partnerships with the companies it invests in. As part of its mission to drive growth, CBGF connects its partner businesses to its broad network of experienced business leaders, sector experts and international relationships to help them achieve their full potential. For more information: www.cbgf.com and @CBGFinvestments. Contacts Josh Stanbury | josh@sjspr.co | 416-628-7441

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Expert Collections containing Cold Bore Technology

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Cold Bore Technology is included in 1 Expert Collection, including IIOT Landscape.

I

IIOT Landscape

498 items

Companies in the industrial internet of things space, including sensor analytics platforms, edge computing, asset tracking, and more.

Cold Bore Technology Patents

Cold Bore Technology has filed 7 patents.

The 3 most popular patent topics include:

  • Drilling technology
  • Oil wells
  • Petroleum production
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12/23/2019

8/24/2021

Drilling technology, Petroleum production, Oil wells, Petroleum engineering, Petroleum geology

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Drilling technology, Petroleum production, Oil wells, Petroleum engineering, Petroleum geology

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