Avatar Innovations
Energy sector venture studio and innovation accelerator.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | CAD500k | Grant | |
| Total Funding | 000k | ||
Avatar Innovations operates as a venture studio and accelerator focused on advancing new technologies within the energy sector. Founded in 2020 by a group including Bryan Trudel, Kevin Krausert, and Bryan Z. Helfenbaum, the firm aims to bridge the gap between emerging energy technologies and the established oil and gas industry. Kevin Krausert, the CEO, brings extensive experience from the oil and gas sector, having previously led Beaver Drilling. This background informs the company's approach to fostering collaboration between corporate leaders and technology entrepreneurs to unlock new energy solutions.
The core of their operation is the Avatar Program, an immersive 12-week platform that connects industry leaders, scientists, and innovators to develop and de-risk energy transition technologies. Participants work on solutions for challenges like carbon capture, utilization, and storage (CCUS), hydrogen, and electrification. The firm's business model involves creating spin-off companies from the technologies developed within its programs, taking an equity stake in these new ventures. It works closely with major energy corporations, who act as partners and potential first customers for the developed technologies. By 2023, Avatar Innovations had successfully launched six new technology companies through its initiatives.
Keywords: energy transition, venture studio, technology accelerator, clean technology, oil and gas innovation, carbon capture, hydrogen solutions, energy startups, corporate venturing, decarbonization
