Canada-based Enbridge Inc. (NYSE: ENB), which has a large presence in Houston, recently made another multimillion-dollar investment in a local pipeline technology company.
The pipeline and energy infrastructure giant invested $6.6 million into Houston-based Smartpipe Technologies, an early-stage company developing a proprietary technology to improve the safety of existing pipeline infrastructure.
The two companies have worked together previously. Using a $9.5 million investment from Enbridge between 2013 and 2015, the firms developed a high-pressure, composite-lined pipe with a diameter of 16 inches. Smartpipe and Enbridge will now develop a similar pipe up to 24 inches in diameter.
"Enbridge has been a solid partner in the development of this technology," said Smartpipe Technologies CEO Gary Littlestar. "Public safety and environmental security have been our foundation from inception, and these core values align perfectly with our partner."
Smartpipe's technology includes a composite internal pipeline liner that can be pulled through existing infrastructure to bolster the structural integrity of the pipeline. The liner also includes an embedded fiber optic line, which can allow for monitoring and leak detection of gas emissions in remote areas.
Smartpipe believes its no-dig, trenchless method of installation is another selling point for the technology, given the time and disruption of excavating and upgrading aging pipeline infrastructure. Moreover, the company says its technology is capable of supporting hydrogen and carbon dioxide infrastructure. Smartpipe aims to support pipeline companies as they transition to transporting an increasing amount of sustainable forms of energy using existing infrastructure.
"This is a very exciting technology that can improve the safety of existing pipelines and support the transportation of low carbon energy sources such as hydrogen, demonstrating how our assets can be a bridge to a cleaner energy future," said Caitlin Tessin, vice president of strategy and market innovation at Enbridge.
Enbridge is headquartered in Calgary, Alberta, but the firm is also one of the largest energy employers in the Houston market. Earlier this year, Enbridge announced plans to move its Houston office from the Galleria area to the Energy Corridor. The infrastructure firm subleased nine floors in the Energy Center Five building at 915 N. Eldridge Parkway from Houston-based McDermott International Inc.
Enbridge has approximately 1,000 employees at its Houston office, and the new space will still have room for the company to grow, the company said at the time.
