Upwing Energy is a spin off from parent company Calnetix Technologies, focused on developing technology to increase the output of natural gas wells using artificial lift.
Calnetix is the world leader in supplying high-speed permanent magnet motors and generators, magnetic bearings and power electronics to a wide variety of industries, including electric drive systems for offshore and subsea oil and gas applications. Upwing utilizes this same technology in the industry’s first ever subsurface compressor system, which significantly increases the flow and ultimate recovery from natural gas wells, increasing the productivity and lowering the cost of production of natural gas assets worldwide.
Since 2019 Cooper and Company has led two rounds of financing for Upwing in conjunction with Equinor, one of the world’s largest energy companies and a global leader in offshore gas production.
Upwing’s subsurface compressor system (SCS) is currently undergoing customer validation testing in Texas with one of the world’s largest gas producers, with further testing and deployment scheduled on major gas fields in South America and North Africa in 2021 and 2022.