The Chief Executive Officer of Alberta Investment Management Corp has indicated that the state's investment body will look for investment opportunities in the technology sector this year.
Leo de Bever, who had taken charge of the $70-billion fund in 2008, had made food, energy and materials focus areas for the investment fund. He has now added enabling technology in the list of focus areas for the fund.
"We're always looking for technologies that enhance what we're doing elsewhere," De Bever said.
De Bever is set to visit KiOR Inc. biomass plant in Columbus, which is involved in turning sawdust into oil that can be processed into fuels such as gasoline. AIMCo has already made investments in forestry land in Australia and the biomass plant initiative could be incorporated.
He pointed out that newer technologies can help oilsands companies deal with the discount theyr are getting for products compared to other varieties. The measures could involve developing ways to use less energy in the upgrading process or transporting the product in slid form.
De Bever agrees that the depending on technological advancement does not always brings desired results. "Out of 10 opportunities, two or three are going to make you all the money and break even in four or five and lose your shirt in two or three. That's just the nature of what we do," he added.
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