News

HFI has had the privilege of supporting many Canadian companies in the MENA region for over 20 years and has been a regular attendee of the Global Energy Show Canada in Calgary - this year HFI was represented by Hugh Fraser and Sally Reeves. This follows on from the SPE Canadian Energy Technology Conference held in March which featured Canada's capabilities in the likes of hydraulic fracturing, SAGD/heavy oil, enhanced oil recovery, geothermal, advanced drilling & well design, methane reduction and autonomous inflow control technologies.

Beyond petrotech, in the latest edition of the Global Cleantech 100, 13% are Canadian, underscoring Canada’s influence in the global cleantech landscape. These companies span sectors such as geothermal energy, zinc-based energy storage, carbon utilization and critical mineral recovery. This cohort includes Eavor Technologies Inc, e-Zinc, Genecis, Ionomr Innovations Inc, Mangrove Lithium, pH7 Technologies, Summit Nanotech, Carbon Upcycling Technologies, Cyclic Materials, MineSense Technologies Ltd. (Vancouver, BC Canada), Pani Energy and Svante and showcases Canada’s growing leadership in solving global climate and energy challenges through scalable, market-ready solutions.

The Foresight 50 is an annual showcase of Canada’s 50 most investible cleantech ventures, spotlighting companies that are tackling urgent global challenges—from emissions reduction and waste management to sustainable housing and food security. Selected by a panel of leading cleantech investors, the latest cohort spans early-stage to growth-phase companies and reflects Canada’s strength in deep tech, clean energy, and circular economy solutions. Amongst his year’s cohort includes ventures like 7Gen, Arca, Daanaa, Ayrton Energy, Ionic Solutions, and Litus Inc.

As the Global Energy Show Canada 2025 wraps up, one message is clear: Canadian energy companies are actively diversifying away from the US market in response to President Trump’s renewed tariff threats. With proposed levies on oil, gas and industrial goods, firms signaling a strategic pivot toward markets outside North America, seeking long-term stability and growth.

Canadian energy ventures are increasingly turning to the Middle East as a strategic growth market. With a GCC energy market valued at over US$750 billion through 2030, the region offers vast opportunities in both traditional petroleum projects and emerging clean energy sectors including solar, nuclear, geothermal, hydrogen and carbon capture.

HFI is keen to continue to support Canadian advanced energy technology companies with their business expansion in the Middle East and we much appreciated the opportunity to meet with existing and new clients and connections in Calgary. Our thanks go out to Sally Koornneef and her colleagues at Canadian Trade Commissioners for their support and hospitality.