Noth­ing Ven­tured, Noth­ing Gained

Alberta Oil - - OBSERVER -

The en­ergy fi­nance busi­ness in Canada is small, it’s risk averse and it’s never been big on early-stage ven­ture cap­i­tal. But that at­ti­tude seems to be chang­ing de­spite—or per­haps be­cause of—the lin­ger­ing down­turn in com­modi­ties and its re­stric­tions on tra­di­tional sources of start-up fund­ing. It takes hard work, in­dus­try con­nec­tions and many mil­lions of dol­lars to start an en­ergy com­pany—even a small one, and even when the as­sets are cheap. But given to­day’s mar­ket, most in­vestors aren’t will­ing to keep suf­fi­cient skin in the game for as long as it takes to build a new com­pany. How­ever, that may be chang­ing as the en­ergy ecosys­tem ab­sorbs dis­rup­tions and adapts to the tech sec­tor’s in­flu­ence on en­ergy fi­nance. At a time when en­ergy com­pa­nies are search­ing for ways to scrounge up some ex­tra cash from in­vestors, en­ergy en­tre­pre­neur BRETT CHELL has a foot in both worlds. As one of the founders of Cal­gary drilling firm Rap­tor Rig, he knows first-hand how dif­fi­cult it is to

Brett Chell, pres­i­dent of Ax­ial En­ergy Tech­nolo­gies and co-founder of Rap­tor Rig (with Cameron Chell, Reg Lay­den and Richard Havinga)

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