(Source: Shutterstock.com)
BP Energy Partners has closed on a growth investment in Novitech, Inc., the company announced Oct. 24. The transaction represents the first investment in BPEP’s Fund III. The amount of the investment wasn’t disclosed.
Founded in 2015, Novitech is a leading inline pipeline inspection technology and data analytics company. Novitech’s Micron technology can deliver critical flaw detection capabilities, including cracking, for liquids and natural gas pipelines in a single run. This capability enables better safety and risk-based integrity management decision making.
Greenberg Traurig LLP and Torys LLP served as legal counsel to Novitech in connection with the transaction. Ropes & Gray LLP and The Garden Law Group acted as legal counsel to BPEP.
Recommended Reading
APA Group to Build Pipeline in Expanding Australian Gas Play
2024-12-17 - APA Group will build and operate a 12-inch, 23-mile natural gas pipeline for a proposed 40-MMcf/d pilot drilling project in Australia.
Blackstone Buys NatGas Plant in ‘Data Center Valley’ for $1B
2025-01-24 - Ares Management’s Potomac Energy Center, sited in Virginia near more than 130 data centers, is expected to see “significant further growth,” Blackstone Energy Transition Partners said.
Perma-Pipe Gets $43MM Contract for Services in Middle East
2025-01-10 - Texas company Perma-Pipe International Holdings specializes in anti-corrosion services for infrastructure.
ADNOC Contracts Flowserve to Supply Tech for CCS, EOR Project
2025-01-14 - Abu Dhabi National Oil Co. has contracted Flowserve Corp. for the supply of dry gas seal systems for EOR and a carbon capture project at its Habshan facility in the Middle East.
Winter Storm Snarls Gulf Coast LNG Traffic, Boosts NatGas Use
2025-01-22 - A winter storm along the Gulf Coast had ERCOT under strain and ports waiting out freezing temperatures before reopening.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.