Company's Software Helps Asset-Intensive Energy Companies Comply with
CALGARY, ALBERTA, November 26 /CNW/ - GE Energy Financial Services, a
unit of GE (NYSE: GE), and Altira Group LLC are investing US $7 million in
Beyond Compliance Inc., a Calgary-based company that provides software to
asset-intensive energy companies managing compliance with government
For the past seven years, Beyond Compliance Inc. (BCI) has helped
utilities and upstream oil and gas companies in Canada track field-based
deficiencies and manage corrective action relating to increasing regulatory
requirements and worker safety issues.
"The signing of a new US $7 million financing deal launches BCI into a
new phase of expanded markets and enhanced geographical reach," says CEO Ron
Visser. "Investment by such outstanding financing partners is a powerful
acknowledgement of BCI's growth."
Visser, who co-founded BCI in 2000, said the company is committed to
making compliance easy and sustainable. With the financial support of GE and
Altira, BCI plans to expand beyond its base in Canada to all of North America,
especially to US-based upstream oil and gas, pipeline, petrochemical, and
electrical utility companies.
The growth is driven by clients making a public commitment to do more to
protect their industrial-based workforce and the environment.
GE Energy Financial Services, which invests more than US $5 billion
annually in energy and water projects and companies, said it was attracted by
BCI's business model of helping its customers address increasing compliance
and safety issues through process automation. That automation helps track
exposure, reduce regulatory risk, and increase the productivity of field
workers responsible for maintaining audits.
Altira Group partners with and invests in companies that develop and
commercialize energy technologies in the areas of natural resources, clean
energy and electric power. Altira's investment, its second since December
2003, is made through the Altira Technology Fund IV L.P. "We are very pleased
to participate in supporting BCI's growth plans," said Altira Managing Partner
About Beyond Compliance
Beyond Compliance Inc. was established to help energy companies manage
regulatory and corporate compliance by improving the workflow between field
operations and corporate office. The company's Integrated Compliance
Management System(R) (ICMS) provides field workers with appropriate tools to
improve inefficient paper-based data gathering methods including; production
data collection, field inspections, worker competency and safety management,
incident tracking, and vendor management. Once collected, data is interpreted
and can me made available in real time to help office personnel report
deficiencies and manage corrective action.
ICMS(R) has been proven to improve worker productivity, reduce operations
cost and lower business risk as organizations meet or exceed their compliance
obligations. It is currently used by several energy producers from very large
multi-national firms to small independents.
Beyond Compliance Inc. was founded in 2000, and has offices in Calgary
For further information, please visit our website at
www.beyondcompliance.com, or contact:
Ron Visser Michael Koury
CEO and Founder Vice President, Business Development
For further information:
For further information: Beyond Compliance Inc. Ron Visser, 403-374-3839
CEO and Founder email@example.com Michael Koury, 403-850-1709 Vice
President, Business Development firstname.lastname@example.org