XPV Invests in Pipeline Monitoring Firm Mobiltex Ltd.
XPV Water Partners’ latest investment is pipeline corrosion monitoring specialist Mobiltex, a Canadian firm that provides a suite of remote sensors and instruments designed to monitor cathodic corrosion protection on the exterior of metallic pipes.
Mobiltex CEO Jerry Chilibecki told GWI this week that XPV’s capital backing would allow the firm to expand its reach into the water sector, with the majority of its business to date having been derived from oil & gas. Chilibecki said that as one of the top three players in the cathodic protection monitoring market in North America (alongside American Innovations and Elecsys), Mobiltex generates annual revenues in excess of $10 million and has been growing annually at a rate of 10-15% in recent years.
Mobiltex joins a host of other digital water firms in XPV’s investment portfolio, including SmartCover Systems and Aquatic Informatics.