Technology and innovation is not new to the energy sector, but the current increased focus is bringing with it new vigor to old practices. To the question “Why?” or maybe more accurately “Why now?” there are multiple answers: factors like consumer demand, social responsibility, increased efficiency that are instigating positive growth in the economy.

“Industry has always used new technologies,” explains Len Johnson, president of Advanced Flow Technologies (AFT). “There has traditionally been resistance to change, but, with the increase of younger workers entering the industry, the traditional barriers are becoming less important.”

The “changing of the guards,” so to speak, has marked a significant impact on the economy, both through industry diversity and the improvement of Alberta’s key industry—the energy sector. The status quo is no longer a satisfactory answer, especially when the cost/benefit factor is weighed.

“Certain sectors, like drilling and fracking, have been aggressively employing new technology. Drilling times and techniques have greatly improved over the last 20 years,” says Johnson. “The ability to drill vertically, and then begin to drill horizontally has revolutionized the industry. And now, with new fracking technologies, producers have access to oil and gas reserves which were previously inaccessible.”

The demand for new technologies and research in the energy sector is mounting. With reserves more difficult to reach and with emphasis to produce both more efficiently and responsibly, industry is benefiting from new innovation. The search for innovation is an ongoing process.

Innovate Calgary is a technology transfer company and commercialization centre that responds to the demands through the licensing of improved oil and gas technologies. It spurred the creation of nFluids Inc, a privately held University of Calgary s­pin-out, which developed a cutting-edge fluid additive. nFluids’s product has the potential to dramatically reduce fluid loss, providing a more efficient, environmentally friendly, cost-effective, and safer drilling operation.

Calgary is a hotbed of entrepreneurial spirit and success. The city leads the world in housing 123 and in international energy company headquarters. It is at the center of over $20 billion of international capital being invested into energy companies, which accounts for one in every 13 jobs within the energy sector. A new opportunity is emerging as our thriving industry continues to face rising gas prices, outdated practices, and evolving regulatory and environmental standards.

As the saying goes, “We can’t solve problems by using the same thinking we used when we created them.” Innovative technology is needed, not only in Alberta but worldwide. New reserves need to be unlocked, and it is paramount that we look for efficient ways to extract, operate, and champion environmental practices through innovation. The energy sector is open for business and is looking to the tech ecosystem for solutions.

Innovations that address market needs are becoming increasingly attractive as industry looks to establish competitive advantages, improve efficiencies, and
minimize environmental impact. The tech ecosystem needs to hear the call, as it holds a critical role in supporting the future of the energy sector. Innovate Calgary wants to lead the hunt by working with the tech sector to answer the energy sector’s needs for innovation that leverage the industry.

“The opportunity is here in Alberta, and the time is now,” explains Alex Raczenko, Entrepreneur-in-Residence at Innovate Calgary. “The resources, financing, and expertise are here. We have to galvanize the entrepreneurial community to help us be a leader in innovation for the energy sector and a leader at targeting innovation by harnessing the wealth of ability that already exists in this province.”

With a grassroots movement, Alberta is poised to lead the way with new ideas, new partnerships, strong collaboration, and the commercialization of technology to meet growing demand.

The environment from which we extract resources is reliant on the energy sector to treat it well. Innovations in this area benefit not only the well-being of the environment, but it allows us to maintain the ability to continue to utilize these resources responsibly. This is an area of focus from the energy sector, and one in which big differences can be made through support from the tech ecosystem.

If we bring all parties to the table and cultivate new ideas for existing problems, the opportunity for the energy sector is endless. New efficiencies, social responsibility, innovative ideas, and collaboration will propel Alberta into a leading role in innovation and will continue to develop the economy. This is a call to action for our community to join together and change the future of the energy sector.