Valent acquires Katal Energy, secures investment from Richardson family
Valent Low-Carbon Technologies, a Canadian energy technology company, has acquired Katal Energy Inc. Katal is a low emissions alternative fuel company based in Calgary, Alberta, that has developed a novel nano-emulsion drop-in fuel called Katal Green Fuel. Since its inception five years ago, the Katal team has proven the technology at the pilot scale, demonstrating significant reductions in particulate matter (PM) and NOx emissions compared to traditional diesel fuels.
Supporting Valent's focus on technologies that decarbonize across air, sea and land transport, Katal's technology presents a unique, and readily marketable solution to reduce emissions across Canada's heavy transportation sector.
"Katal is one more key piece of the puzzle that advances Valent's net-zero emissions fuels goal," said Valent CEO Tim Haig who founded Biox Corp. "It is a testament to Albertan innovation and coast-to-coast collaboration."
Katal CEO Craig Latimer said, "Becoming part of the Valent family will provide Katal with significant market advantages as we move to commercialize. Their experience in the renewable fuels arena and their access to partnerships and customers will accelerate market penetration for our products."
Several Katal shareholders, including two members of Winnipeg's Richardson family, decided to make a capital investment in Valent as part of the transaction, joining the likes of John Risley's CFFI Ventures and Kensington Capital Partners.
Aidan Richardson, a member of the Richardson family's sixth generation, and previously the vice president of engineering at Katal, will join Valent's board of directors.
"Our family has been investing in Canadian natural resource innovation for many years," Richardson said. "Valent provides a unique way to strengthen this commitment by supporting a diverse pool of green, low-carbon technologies, each with tremendous potential impact to the future of energy."
Valent is an energy technology company focused on aggregating and building out net-zero fuels for aviation, marine and heavy land transport applications. Valent convenes a coalition of energy industry stakeholders, institutional investors and seasoned entrepreneurs to deploy new low-carbon energy innovations such as sustainable aviation fuel, low-sulfur marine fuels and renewable diesel. Valent has operations across Canada including Alberta, South West Ontario, and the Maritimes.
Katal's research is based at the Southern Alberta Institute of Technology in Calgary. Its nano-emulsion drop-in fuel reduces harmful exhaust emissions of diesel-powered internal combustion engines such as carbon dioxide, NOx and PM. Katal will be announcing the location of its first Canadian pilot plant and associated offtake partners later this fall.