EnerPure names veteran oilpatch exec as CEO, looks to growth stage

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This article was published 15/04/2025 (347 days ago), so information in it may no longer be current.

On the cusp of commercialization after 15 years in development, EnerPure Inc. (formerly HD Petroleum) has hired Rick Koshman, a senior oilpatch executive, as CEO to lead the company into its growth phase.

Koshman, has about 25 years of experience in the industry including key positions at Keyera Corp., Athabasca Oil Corp. and Canadian Natural Resources Ltd.

Todd Habicht, EnerPure founder and longtime CEO, will assume the position of executive chairman.

“Having completed the R&D phase, we are looking to the execution of the growth phase for EnerPure,” said Habicht. “Having an individual like Rick, who has done $5.1 billion in infrastructure project development in Canada, the U.S. and Central Asia, is great because we have a global solution to a global problem.”

EnerPure has developed a patented technology that turns used motor oil (UMO) into a low carbon-intensive marine fuel.

After exhaustive engineering design and third-party verification, the Manitoba company has produced and sold more than one million litres of marine fuel from a pilot plant operating just south of Morris.

EnerPure’s plan is to build 21 facilities across North America — costing about $15 million each — in the next six years.

It seeks access to regional UMO recovery programs and facilities that currently lack proper disposal of used oil.

Koshman was unavailable Tuesday, but in a prepared statement said: “I’ve long admired what Todd and the EnerPure team have developed — a clean, elegant solution to a global problem with real potential to scale. I’m honoured to join the team to advance the company through its next phase of growth and to help unlock the enormous opportunity ahead, starting right here in Canada.”

The first commercial installation is set for Alberta. As the plant is still going through the environmental permitting process, Habicht said he cannot reveal its exact location. It is in partnership with a large resource company, he added.

With Koshman in place as CEO, Habicht said EnerPure’s capital-raising process will become more intensified.

In addition to operational experience in the oil industry, Koshman has significant capital markets and private equity exposure.

The company intends to retain ownership of the proposed facilities. With the stated desire to have 21 plants built in North America over the next six years, the company would need access to about $315 million over that time.

Although there are a couple of large-scale UMO recycling facilities in Canada, Habicht believes his technology can do the job with about five per cent of the capital investment the old technology required.

EnerPure has close to 400 shareholders, many from Manitoba where the company has raised a total of $40 million over the years, including through the Manitoba Small Business Venture Capital Tax Credit program.

Estimates tab about 17 billion litres of UMO as improperly burned or dumped every year around the world.

EnerPure’s internal estimates are each of its plants will reduce annual greenhouse gas emissions by 16,000 tonnes.

EnerPure already has a working relationship with Maersk, the Danish-base global shipping and logistics company, to buy the marine fuel it will produce.

“Maersk has said in writing that they would take every drop we could produce that could be accessed from any port in the world,” Habicht said.

martin.cash@freepress.mb.ca