CSL Capital Management Announces the Formation of Kanaci Technologies, Integrating the GHG Emissions-Reducing Technology of BJ Energy Solutions and the Acquisition of Vericor Power Systems
HOUSTON, Aug. 12, 2021 /PRNewswire/ — CSL Capital Management (“CSL”) is pleased to announce that it has formed Kanaci Technologies (“Kanaci Technologies” or the “Company”). The Company has been formed with the purpose of integrating technologies that accelerate the reduction in carbon footprint across a variety of industrial applications. The Company’s initial platform is comprised of three divisions: Marine and Defense, Energy, and Power Generation.
In a separate transaction consummated today, Kanaci Technologies acquired Vericor Power Systems (“Vericor”), a global supplier of aeroderivative gas turbines. Vericor will operate as a subsidiary of Kanaci Technologies.
BJ Energy Solutions is the energy platform of Kanaci Technologies. The company has developed and deployed a leading next generation completions solution that is powered by a Vericor gas turbine. BJ Energy’s first TITAN™ fracturing fleet was deployed in early 2021 and the eight-pump fleet has now accumulated more than 14,000 combined operating hours. The TITAN technology is designed to significantly reduce greenhouse gas (“GHG”) emissions, lower the carbon footprint, and increase reliability over traditional and other competitive offerings.
Kanaci Technologies’ power generation platform supplies industrial power generation solutions. With the increasing demands of distributed power generation, Kanaci Technologies will be positioned to provide power generation solutions for baseload, intermittency, peak, and load sharing power.
About CSL Capital Management
CSL Capital is a SEC-registered investment firm focused on energy services and equipment businesses in the U.S. Headquartered in Houston, Texas, CSL Capital was founded in early 2008. The current CSL Capital portfolio includes venture, de novo, growth, recapitalization, and other investments. CSL Capital’s partners include financial institutions, endowments, foundations, and family offices, among other institutional groups. Since its 2008 inception, CSL Capital has raised in excess of $1.9 billion in equity capital and commitments across several distinct investment vehicles. For more information, please visit www.cslenergy.com.
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SOURCE CSL Capital Management
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