Evolution Engineering Inc., a Calgary, Alberta, Canada, and Conroe, Texas-based provider of products and engineering services to the measurement while drilling (MWD) drilling market, received an investment from EV Private Equity.
The amount of the deal was not disclosed.
The funds will be used to accelerate the company’s North American growth and expand product development related to its platform and related directional drilling technologies.
Led by Paul Crilly, CEO, Evolution leverages a patented unified telemetry platform to deliver purpose-built measurement while drilling products. The company’s flagship MWD system, EVO ONE, provides a single tool suitable for every drilling requirement.
The company’s team also provides contract engineering services primarily related to downhole drilling systems, partners with companies to develop new technologies leveraging its patented technologies.