Toronto-based energy technology company Valent Low-Carbon Technologies has acquired Katal Energy, a Calgary-based low-emissions alternative fuel business. No financial terms were disclosed. Several Katal shareholders, including two members of Winnipeg’s Richardson Family, decided to invest in Valent as part of the deal. They join John Risley’s CFFI Ventures and Kensington Capital Partners, which invested in 2019.
CALGARY, ALBERTA, CANADA, October 19, 2020 /EINPresswire.com/ — Valent Low-Carbon Technologies (“Valent”), a Canadian energy technology company, is pleased to announce it has acquired Katal Energy Inc. (“Katal”). Katal is a low emissions alternative fuel company based in Calgary, Alberta that has developed a novel nano-emulsion drop-in fuel called Katal Green Fuel (KGF). Since its inception five years ago, the Katal team has proven the technology at the pilot scale, demonstrating significant reductions in PM and NOx emissions compared to traditional diesel fuels.
Supporting Valent’s focus on technologies that decarbonize across air, sea and land transport, Katal’s technology presents a unique, and readily marketable solution to reduce emissions across Canada’s heavy transportation sector. “Katal is one more key piece of the puzzle that advances Valent’s net-zero emissions fuels goal. It is a testament to Albertan innovation and coast-to-coast collaboration”. – Valent CEO, Tim Haig.
“Becoming part of the Valent family will provide Katal with significant market advantages as we move to commercialize. Their experience in the renewable fuels arena and their access to partnerships and customers will accelerate market penetration for our products” – Katal CEO, Craig Latimer.
Several Katal shareholders, including two members of Winnipeg’s Richardson Family, decided to make a capital investment in Valent as part of the transaction, joining the likes of John Risley’s CFFI Ventures and Kensington Capital Partners.
Aidan Richardson, a member of the Richardson Family’s 6th generation, and previously the Vice President of Engineering at Katal, will join Valent’s Board of Directors. “Our family has been investing in Canadian natural resource innovation for many years. Valent provides a unique way to strengthen this commitment by supporting a diverse pool of green, low-carbon technologies, each with tremendous potential impact to the future of energy.” – Aidan Richardson
About Valent Low-Carbon Technologies
Valent is an energy technology company focused on aggregating and building out net-zero fuels for aviation, marine and heavy land transport applications. Valent convenes a coalition of energy industry stakeholders, institutional investors and seasoned entrepreneurs to deploy new low-carbon energy innovations such as sustainable aviation fuel, low-sulphur marine fuels and renewable diesel. Valent has operations across Canada including Alberta, South West Ontario, and the Maritimes.
About Katal Energy
Katal’s research is based at the Southern Alberta Institute of Technology (SAIT) in Calgary, Katal’s nano emulsion drop-in fuel reduces harmful exhaust emissions of diesel-powered internal combustion engines such as CO2, NOX and particulate matter. Katal will be announcing the location of its first Canadian pilot plant and associated off-take partners later this fall.