CORE is a Calgary, Canada-based company that has developed a proprietary pipe-in-pipe linepipe solution (the ClickWeld System) that greatly reduces the cost of line pipe installation while improving pipeline integrity and safety.
NEWS RELEASE | March 29, 2023
PillarFour Capital Partners (“PillarFour”), an energy focused private investment fund, is pleased to announce an investment in CORE Linepipe Inc. (“CORE” or the “Company”).
CORE is a Calgary, Canada-based company that has developed a proprietary pipe-in-pipe linepipe solution (the ClickWeld System) that greatly reduces the cost of line pipe installation while improving pipeline integrity and safety. The ClickWeld system displaces the need for welding of the external steel line pipe while providing continuous dual containment through electrofusion coupling of the internal HDPE liner, pre-installed in a controlled manufacturing facility. The result is more sustainable transportation for produced water, on which the oilfield is becoming increasingly reliant.
The Company provides linepipe for customers in both Canada and the US from its facility in Crossfield, Alberta (20 minutes North of Calgary). Beyond the Company’s current 4, 6 and 8-inch diameter product range, two years of R&D have resulted in 10 and 12-inch diameter products, expected to be ready for installation in late 2023, which will significantly increase the Company’s total addressable market in North America.
“We are pleased to become a larger shareholder in CORE Linepipe through an investment from our second fund. We have been extremely impressed with the company’s growth over the past three years through product expansion and penetration of the US market,” said Matt Colucci, Managing Partner at PillarFour.
Sam Bouey, President & Chief Executive Officer of CORE commented, “PillarFour has been a great capital partner for CORE to date and we are excited about their increased commitment as we continue to grow a best-in-class pipeline technology company.”
About PillarFour Capital
PillarFour Capital Partners Inc. 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 their investee companies decades of operational, financial, strategic planning and capital markets expertise. PillarFour partners with high quality management teams, putting in place strategies that maximise value creation by emphasising operational excellence, prudent governance and social license. www.pillarfourcapital.com
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