PillarFour Capital Announces Investment in Metatek Group (formerly Bridgeporth Ltd)
December 20, 2021 Calgary, Canada
PillarFour Capital Partners (“PillarFour”), an energy-focused private investment fund, is pleased to announce an investment in Metatek Group (formerly Bridgeporth Ltd) (“Metatek” or the “Company”).
Founded in 2011, Metatek is a UK-based specialist geosciences company that acquires, processes and interprets a variety of high-resolution geophysical surveys for clients worldwide, including governments, national, multinational and independent oil & gas and mining companies.
Metatek has exclusive access to Lockheed Martin’s 4th-generation Full Tensor Gravity Gradiometer technology (“eFTG”) for airborne gravity surveys. Combined with Metatek’s proprietary processing software, eFTG surveys provide clients with best-in-class gravity data at a significantly lower cost and environmental footprint as compared with alternate seismic and other survey techniques. Metatek’s exclusive eFTG and allied survey methods extend its client base beyond the traditional energy and mining resource sector to the fast-growing, energy transition-driven geothermal, battery and rare earth sectors.
“We are impressed with the strength of Metatek’s forward thinking management team and the Company’s ambitious growth plans, including the continued expansion of the Company’s service offering beyond traditional oil and gas exploration and into the rare earth and battery metals sectors. The use of the Company’s proprietary fourth-generation FTG technology provides an environmentally friendly alternative to more traditional exploration methods, including limited to no ground disturbance” said Paul Colucci, Managing Partner at PillarFour. “Environmental, social and governance (ESG) focused exploration for oil and gas, as well as metals and minerals, will be vital in supporting the ongoing transition towards sustainable energy.” In connection with this investment, Paul Colucci and David Dudlyke of PillarFour have been appointed to the board of directors of Metatek.
Mark Davies, Founder and Chief Executive Officer of Metatek commented, “I am very pleased to be partnering with the PillarFour team. PillarFour’s global network and expertise in the energy technology space will be critical as we execute on the Company’s ambitious growth strategy over the coming years.”
About PillarFour Capital
PillarFour Capital is a global investment fund with offices in Calgary, Canada and London, UK. PillarFour invests in Sustainable, Energy Technology and Innovation Companies, targeting investment in companies with high ROIC, low capital intensity and commercial technologies aimed at enhancing sustainability and lowering carbon intensity in the oilfield. The PillarFour investment team is made up of dedicated energy and technology professionals, offering our investee companies decades of operational, financial, strategic planning and capital markets expertise. We partner with high quality management teams, putting in place strategies that maximize value creation by emphasizing operational excellence, prudent governance and social licence. www.pillarfourcapital.com
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