Everyone should have the right to affordable, reliable, and sustainable energy.

At Cool, we are focused on providing practical, market-ready solutions to improve energy efficiency.

 

Carbon capture, utilizing available low-carbon fuels, and improving industrial processes offer a pathway to lower energy intensity while also maintaining affordability and increasing energy security.

 

We are applying our technology in these areas to contribute to a better future, today.

 

Our Story

In 2007, Colin Nikiforuk, Chief Technology Officer of Cool Ventures Inc., began working as General Manager for the Ikhil Joint Venture, a partnership between AltaGas' subsidiary Utility Group Facilities Inc., ATCO Midstream NWT, and the Inuvialuit Petroleum Corp.

The Joint Venture owned two natural gas wells in the Ikhil gas field, located approximately 50 kilometers northwest of Inuvik, a remote town in the Northwest Territories. As General Manager, Colin was responsible for the operations of the natural gas gathering and processing facilities, as well as the reserves supplying the natural gas.

 

Since 1999, these two wells had provided local energy in the form of 1.5 Mmcf/d of sweet dry gas to the Northwest Territories Power Commission (NTPC) and Inuvik Gas Ltd., the sole source of natural gas for the 3,500 citizens in Inuvik.    

In November 2010, one of the two wells at Ikhil ceased to produce due to water entering the wellbore and a preliminary reserve analysis indicated that the remaining reserves volumes were significantly below previous estimates. Thus began many sleepless nights for Colin as he evaluated options for a long-term energy solution for the Inuvik community.

 

The immediate solution was to truck in propane or LNG. Colin began assessing different small-scale LNG technologies and was surprised to find them expensive and unsuitable. 

By October 2011, as Inuvik Gas commissioned a propane air system to provide a short-term, backup energy supply, Colin was working on creating a new refrigeration technology that could be configured for simple, robust, and cost-effective small-scale LNG production. This ultimately led to Colin's invention of the Modified Aqua Ammonia Absorption ("MA3™") concept in 2015.

Shortly thereafter, a chance introduction led Colin to meet George de Boon, and subsequently, George reviewed the MA3™ concept. George, an accomplished entrepreneur (implemented the first oilfield CO2 miscible flood, jointly introduced the use of multi-stage fracing), saw the brilliance of Colin's design and in 2016 helped fund the creation of the small-scale LNG pilot facility which proved the viability of the MA3™ technology.

In March 2021, the Inuvialuit Petroleum Corporation selected MA3™ as the technology to be used for LNG production as well as NGL extraction in the Inuvialuit Energy Security Project ("IESP"), which will provide long-term energy supply to the Inuvik community. The IESP is expected to be completed in 2023, restoring energy security to Inuvik 13 years after it became threatened in 2010.

 

 

Our Team

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Executive Chairman
George B. de Boon, P. Eng.

Mr. de Boon is a professional engineer with over 40 years of petroleum engineering and resource management experience in western Canada. Throughout his career, he has been involved in the successful commercialization of several new oil and gas processes and technologies.

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President & CEO
Ray G. Mills

​​Mr. Mills co-founded KUDU Industries, Inc. in 1989 and served as its CEO from 2003 until the sale of the company to Schlumberger in 2014. He directed the vertically integrated Progressing Cavity Pump (PCP) company with operations in Canada, Australia, Kazakhstan, Columbia, Venezuela, and France.

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Chief Technology Officer
Colin Nikiforuk, P. Eng.

Mr. Nikiforuk is the inventor of the MA3™ refrigeration technology and the DPLC™ liquefaction process and has over 30 years of experience in the oil and gas industry.

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Chief Financial Officer
Mike Smillie, CPA, CMA

Mr. Smillie has over 25 years of energy related financial experience with expertise in executing mergers, acquisitions and oil and gas operations. Prior to joining Cool, Mr. Smillie served in senior finance and Board roles including Harvest Operations Corp., Raging Bull Energy, Crescent Point Energy and Innova Exploration.

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Director - Business Development
Peter Eaton, MBA

Mr. Eaton has worked in financial analysis and business development in the Canadian finance and energy industries for 32 years. His most recent position was as Director, Business Development for AltaGas Ltd., where he worked for 17 years.

 

Board of Directors

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Executive Chairman
George B. de Boon, P. Eng.

Refer to "Our Team" above.

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President & CEO
Ray G. Mills

Refer to "Our Team" above.

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Director
Ashok Bhasin

Previously, Mr. Bhasin held senior management positions with Gulf Canada. He also co-founded Globex Resources and was its CEO from 1997 until its sale to Innova Exploration in 2005. 

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Director
Clifford D. Johnson

Mr. Johnson's legal practice includes extensive experience in oil and gas, energy, environmental, corporate governance and dispute resolution matters as arbitrator or mediator. 

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Director
Mark L. Shilling

Previously, Mr. Shilling held the position of Vice-President of Canadian Wealth Management Ltd. from 1984 to 2008.