Kenda Capital merges oil & gas portfolio companies

Kenda Capital has merged three of the portfolio companies in its Shell Technology Ventures Fund I to create Tendeka, an oil & gas services business that will be headquartered in Aberdeen.

The three merged businesses are: Swellfix, which specialises in swellable elastomers; Sensornet, a provider of digital monitoring solutions based in Hertfordshire; and Well Technology, a provider of downhole solutions based on technology for wireless communication in oil and gas wells, which is headquartered in Stavanger, Norway.

The Shell Technology fund focuses on investments in the upstream oil and gas sector, but also invests in downstream, renewable energy and by-product recycling technologies.

The fund's primary goal is to reduce the cost of energy by accelerating the development and deployment of new technologies.

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