nFluids Inc., a Calgary, Alberta, Canada-based developer of a proprietary nanoparticle oil and gas drilling fluid additive, received a financing of undisclosed amount.
Backers included Yaletown Venture Partners from a group of angel investors.
The company intends to use the funds to bring its technology closer to market.
Led by David Edmonds, President, nFluids is developing a proprietary nanoparticle oil and gas drilling fluid additive that aims to reduce fluid losses during drilling, increases lubrication, and strengthens the well bore. The company is a University of Calgary spin-out based on the combined research of Dr. Maen Husein and Dr. Geir Hareland.