Cnergreen

Cnergreen is a Calgary, Alberta-based advanced materials company commercializing a patent-pending nanoparticle-based foam technology for subsurface applications in the oil and gas industry. Its flagship product, ArmorFoam, was developed at the University of Calgary and is engineered to remain stable for months under high pressure, high temperature and high salinity conditions found in reservoirs, with formulations tunable for different reservoir types.

The technology is offered in three application variants: ArmorFoam-EOR, aimed at accessing unswept reservoir zones to increase oil recovery and pore space available for CO2 storage while reducing carbon intensity; ArmorFoam-Frac, intended to prevent parent-well damage during infill well fracturing (frac hit mitigation); and ArmorFoam-HP, used to deliver production-enhancing fluids through the reservoir in huff-and-puff operations. In CO2 enhanced oil recovery, injected gas often channels through fractures and high-permeability zones, causing early gas breakthrough and poor sweep; the foam blocks these channels so CO2 contacts more of the reservoir pore space.

The company positions its work around clean and efficient hydrocarbon production and carbon capture, utilization and storage, stating a goal that hydrocarbons be produced at the lowest possible carbon intensity. It operates from Calgary with a small team combining petroleum engineering, oilfield chemicals, field operations and technology commercialization experience.

Founding story

The company originated as a University of Calgary spin-off, commercializing nanoparticle-based foam technology developed at the university. Co-founders include CEO Ali Telmadarreie, who has a background in petroleum engineering and foams, and Steven Bryant, a scientist specializing in nanomaterials and fluid flow in porous media.

Business model

Cnergreen manufactures and supplies a proprietary nanoparticle-based foam chemistry, ArmorFoam, to oil and gas operators for injection into reservoirs. It has scaled manufacturing capacity and moved from laboratory development toward field trials and well treatments performed in connection with operators' CO2 injection, fracturing and production-enhancement programs.

Revenue is generated from supplying and deploying ArmorFoam chemistry for well treatments with oil and gas operators.

Traction

The company reports scaled manufacturing capability, active field testing in connection with an existing CO2 project, and field trials scheduled with additional operators in the US and Canada in the first half of 2024. Headcount is reported as roughly 8 employees, within a 1-10 range.

Latest developments

Following its C$2 million seed round led by Rhapsody Venture Partners, the company reported scaled manufacturing capability, ongoing field testing in connection with an existing CO2 project, and field trials scheduled with additional US and Canadian operators in the first half of 2024. It also added Dale Dusterhoft to its board and joined Chevron Technology Ventures' Catalyst Program.