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Hifi completes $10 million in equity financing

Calgary-based Hifi Engineering Inc., a developer and supplier of fiber optic sensing technology used to monitor pipelines and oil and gas wells, announced $10.0 million equity financing from BDC and an existing strategic investor. According to the company, the proceeds primarily be put toward rapid commercial growth domestically and internationally, as well as fund ongoing R&D.

“We are excited to be part of Hifi’s organization and to support its management team’s impressive growth plans, which are a win for both the environment and the economy,” says Cheri Corbett, Director, Cleantech Practice at BDC. “We are confident that Hifi can continue on its path of becoming an industry standard system for pipeline operators across North American and internationally.”

Design Engineering July 9, 2019
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