Genesis Collaborates with ExxonMobil, HMDC & CDL

January 25, 2022, St. John’s, NL: Genesis, an innovation hub that supports start-ups from ideation to scaling their business, is working with ExxonMobil Canada Properties, operator of the Hebron project, and Hibernia Management and Development Company Ltd., operator of the Hibernia project, to foster early-stage technology innovation in the energy sector.

With funding from the two projects, Genesis will work with Creative Destruction Lab, a nonprofit that helps accelerate growth for seed-stage technology and science-based companies. Two new positions will be created at Genesis, the first position is a Venture Manager to help recruit local startups into Creative Destruction Lab (CDL), and the second is for an additional Success Manager to help tech companies within Genesis’ existing programs develop solutions for the energy industry.

“At our core, ExxonMobil is a technology company focused on energy solutions,” says Ryan Noseworthy, VP with ExxonMobil Canada. “We are excited to collaborate with Genesis and CDL to support the regional startup community and advance exciting innovations for our industry.”

“Hibernia was the foundation for our offshore industry, and the team has been reliably producing for 24 years,” says Stephen Edwards, president of Hibernia Management and Development Company Ltd. “We are optimistic this relationship with Genesis and CDL will help us identify technology solutions to support a longer life for our world-class Hibernia asset.”

Atlantic Canada is the fastest-growing early-stage ecosystem in North America as ranked by Startup Genome in 2019. Genesis and CDL have each expanded to provide assistance to more emerging startups in the region. Both organizations are already partners on the Ocean Startup Project, and this new collaboration will lead to further support for ocean technology and energy companies in Newfoundland and Labrador.

"CDL-Atlantic is committed to showcasing the talent of all four Atlantic Canadian provinces, and to date Newfoundland and Labrador has provided some of our strongest alumni companies. This relationship will help us to deepen our connections in Newfoundland and Labrador with the goal of increasing the number of ventures and mentors from the province," said Jeff Larsen, AVP Entrepreneurship and Innovation, Dalhousie University and CDL-Atlantic Site Lead.    

“This collaboration is another important milestone for us to continue building amazing companies,” remarked Michelle Simms, President & CEO of Genesis. “Many of our clients develop technologies that are directly or indirectly applicable to the energy supply chain; they share an interest in safety at sea and reduced carbon emissions; and see our province as the perfect place to validate, test and grow these innovations.”

About Hebron

ExxonMobil Canada Properties (35.5 percent) is the operator of the Hebron project. Its co-venturers are Chevron Canada Limited (29.6 percent), Suncor Energy (21 percent), Equinor Canada Ltd. (9 percent) and Nalcor Energy-Oil and Gas Inc. (4.9 percent). For more information about the Hebron project visit www.hebronproject.com.

ExxonMobil Media Contact:
Margot Bruce-O’Connell
margot.p.bruce-o’connell@exxonmobil.com
709 746-8383

 About Hibernia Management and Development Company Ltd.

Hibernia Management and Development Company Ltd. (HMDC) is the operator of the Hibernia field, which began petroleum production offshore Newfoundland and Labrador in November 1997. HMDC is owned jointly by ExxonMobil Canada (33.125%), Chevron Canada Resources (26.875%), Suncor Energy (20%), Canada Hibernia Holding Corporation (8.5%), Murphy Oil Company Ltd. (6.5%) and Equinor  Canada Ltd. (5%).

Hibernia Media Contact:

Margot Bruce-O’Connell
margot.p.bruce-o’connell@exxonmobil.com
709 746-8383

 About Creative Destruction Lab

Creative Destruction Lab (CDL) is a not-for-profit organization that delivers an objectives-based program for massively scalable, seed-stage, science- and technology-based companies. Its nine-month program allows founders to learn from experienced entrepreneurs, increasing their likelihood of success. Founded in 2012 by Professor Ajay Agrawal at the University of Toronto’s Rotman School of Management, the program has expanded to ten sites across four countries: Oxford (Saïd Business School, University of Oxford), Paris (HEC Paris), Atlanta (Scheller College of Business, Georgia Institute of Technology), Madison (Wisconsin School of Business, University of Wisconsin-Madison), Seattle (Foster School of Business , University of Washington), Vancouver (Sauder School of Business, University of British Columbia), Montreal (HEC Montréal), Calgary (Haskayne School of Business, University of Calgary), and Halifax (Rowe School of Business, Dalhousie University). It now includes 16 streams: AgTech, Artificial Intelligence, Blockchain, Climate, Commerce, Energy, FinTech, Health, Matter, Neuro, Oceans, Prime (General Technology), Quantum, Risk, Space, and Supply Chain. The successful commercialization of cutting-edge science and technology achieved through the program has led to the creation of over $15 billion in equity value.

For more information, please contact:
Amarpreet Kaur
Associate Director, Creative Destruction Lab
amarpreet.kaur@creativedestructionlab.com

About Genesis

Genesis, established in 1997, exists to help build amazing companies. Genesis clients and graduates have raised more than $644 million in private investment, generated more than $220 million in annual revenues and created more than 2,500 jobs. Genesis alumni are among some of the top companies in Canada, including Verafin, Rutter, Mysa, Virtual Marine and Genoa Design. To learn more about Genesis and its innovative programming, visit www.genesiscentre.ca.

For more information, please contact:
Annagray Campbell, Manager – Community Engagement, Genesis
acampbell@genesiscentre.ca 
709-864-4721

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