Midstream - Pipelines | Service & Supply | Finance & Investing | Oilfield Services | Capital Markets
Enbridge Invests Millions in Pipeline-Focused Newcomer
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Smart Pipe Company Inc. has secured an additional US$12.0 million financing round with an US$8.0 million investment from a subsidiary of Enbridge Inc. The funds will be used to accelerate the commercialization of the company's XPL-300® series system.
Smart Pipe Company's President and CEO, Gary Littlestar, commented: "Smart Pipe is delighted to have Enbridge as a partner at this crucial stage of our market entry. Having the support of Enbridge really speaks to the quality of the solution we've developed over the past few years. The XPL-300® is on schedule to make a major impact on the pipeline industry, changing the way pipeline operators think about the use of composite materials to replace old, degraded steel. From the early stages of our discussions with Enbridge, it was apparent that…
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