[Techtaffy Newsdesk]
Cenovus Energy is investing $1.1 million in Hifi Engineering, a Calgary-based company that develops leading fibre-optic technology to improve underground well monitoring. The investment is through the Cenovus Environmental Opportunity Fund, which makes strategic investments in companies pursuing environmental innovations in energy and technology.
In 2009, Cenovus provided $1 million to Hifi for the development of fibre-optic technology. The Cenovus Environmental Opportunity Fund is a wholly-owned subsidiary of Cenovus.