NXT Energy Solutions Inc. received a $2 million equity infusion from its largest shareholder, Mork Capital, through a private placement of 7,050,500 common shares at CAD 0.40 each. The transaction increased Mork Capital’s stake to roughly 32.3 % of the company’s outstanding shares, giving the investor a significant influence over NXT’s strategic direction.
The capital will be used to accelerate the deployment of NXT’s proprietary Stress Field Detection (SFD) technology across Western Canada and to fund the development of geothermal exploration projects and a data‑monetization platform. In addition, the company has engaged Baycrest Energy Ltd. to evaluate strategic pathways for leveraging its extensive SFD data library, which contains more than 50,000 line‑kilometers of airborne geophysical data in the Western Canadian sedimentary basin.
NXT’s financial performance has improved markedly in 2025. Revenue from SFD‑related services rose from $0.60 million in the first nine months of 2024 to $14.21 million in the same period of 2025, a jump driven by new contracts in Africa and Southeast Asia. The company’s net loss narrowed, reflecting disciplined cost management and the impact of the new investment on working capital. CEO Bruce G. Wilcox noted that the funding “provides the liquidity needed to scale our high‑margin SFD solutions while maintaining flexibility to pursue emerging geothermal opportunities.”
SFD is a patented gravity‑based instrument that detects subtle gravitational perturbations caused by density and stress contrasts in geological formations. By providing early indications of hydrocarbon traps, the technology reduces exploration time and cost. The investment is expected to expand the reach of SFD, enabling NXT to capture a larger share of the growing demand for rapid, low‑cost exploration tools in resource‑rich regions.
Eugene Woychyshyn has been appointed President and Chief Financial Officer, joining CEO Bruce G. Wilcox. Woychyshyn’s appointment signals a focus on strengthening financial stewardship and accelerating the commercialization of NXT’s technology portfolio. He emphasized that the new capital will support “strategic investments in high‑return verticals while preserving capital for future growth initiatives.”
The infusion of capital, coupled with the company’s recent revenue turnaround and the strategic engagement with Baycrest Energy, positions NXT to strengthen its competitive edge in the geophysical exploration market. The investment mitigates past going‑concern concerns, enhances liquidity, and provides the resources needed to scale SFD deployments and develop geothermal and data‑monetization projects, setting the stage for sustained growth in the coming quarters.
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