Colin VeyrithLeadership review 2026

Colin Veyrith · Chief Executive Officer · Canada

How my responsibility moved from assets to the enterprise

May 2021 — Present

Chief executive officer

Alderquell Energy

Sector
District heating and thermal services
Ownership
Joint infrastructure-investor and municipal ownership
Company scale
C$124 million revenue in 2025
Employees
340 employees
Geography
Ontario and British Columbia; eleven operating networks
Reporting to
Separately chaired board representing the owners
Team
Seven executive reports
Financial scope
Enterprise operating result, funding proposals and portfolio capital allocation

Mandate

Reconcile renewal, new demand and changes in heat supply with continuing service obligations

Outcomes

  • Deferred a C$42 million extension pending firmer anchor commitments
  • Prioritised C$9.6 million of pipe renewal within a constrained capital plan
  • Established a measured first stage for heat-pump investment
  • Separated billing explanation improvements from actual invoice corrections

Decisions in context

I became CEO with responsibility for the complete investment and operating account rather than the network portfolio alone. The owners needed a clearer comparison between renewing existing assets, connecting new buildings and changing sources of heat. I report to a separate chair and hold an executive directorship. The portfolio now has eleven networks, 412 connected buildings and 238 MW of installed thermal capacity; the revenue and workforce figures shown here describe 2025. I have used staged approvals where operating evidence can change the next commitment, while also supporting renewal that has no immediate growth headline. The role requires close work with technical specialists without taking over their engineering authority. My continuing focus is the quality of demand assumptions and the service costs that remain while a network changes its equipment or energy source.

Reason for the move

Serving in the current CEO appointment

Jan 2017 — Apr 2021

Chief operating officer

Alderquell Energy

Sector
Thermal-network operation
Ownership
Infrastructure and municipal investment partnership
Company scale
C$89 million annual revenue at appointment
Employees
260 at entry across eight networks
Geography
Ontario and British Columbia
Reporting to
Chief executive officer
Team
Eight network and central operating leads
Financial scope
Operating expenditure and maintenance planning; major capital subject to enterprise approval

Mandate

Coordinate network performance, maintenance evidence and practical shared resources

Outcomes

  • Reviewed critical spares across seven networks before centralising holdings
  • Connected condition reporting with the annual renewal discussion
  • Improved the handover of development assumptions to operating teams

Decisions in context

As COO, I was accountable for the operating system across a geographically separated portfolio. I coordinated network leaders, maintenance planning and central support, with major investment decisions reserved for the CEO and board. The spare-equipment review was an important test of how we worked as a group. We released genuinely redundant stock but retained duplicate items where compatibility, transport or simultaneous need made sharing less credible. I also asked development and operating teams to record changes between the approved project assumptions and the first full season of service. Those changes helped us improve later proposals without reducing the discussion to blame. My board involvement was through management presentations rather than a director seat. The subsequent CEO appointment required a wider view of owner expectations, funding and commercial exposure than this operating remit alone had provided.

Reason for the move

Board selected me to lead the enterprise after four years overseeing operations

Aug 2013 — Dec 2016

General manager, regional networks

Alderquell Energy

Sector
Operating district-heating networks
Ownership
Portfolio company with institutional and municipal investors
Company scale
C$31 million annual revenue in assigned portfolio at entry
Employees
Sixty-eight in three networks
Geography
Ontario
Reporting to
Chief operating officer
Team
Three network managers and regional support colleagues
Financial scope
Regional operating performance and proposed renewal spending

Mandate

Deliver contracted thermal service and make inherited asset obligations visible

Outcomes

  • Established a common review of service interruptions and recurring maintenance
  • Recorded differences between original connection assumptions and operating demand
  • Prepared renewal proposals with clearer access and service dependencies

Decisions in context

This was my first role with direct responsibility for a group of operating networks rather than a project approaching handover. I inherited customer agreements, asset histories and the practical consequences of earlier design choices. My financial scope was the three-network region, not the whole company. I worked with local managers to distinguish immediate service issues from conditions that required a longer renewal plan. We also reviewed the connection assumptions that had changed before assets entered regular operation. That work made me more careful about the promises a development team could reasonably pass to its operating colleagues. I learnt to explain a regional need within the wider capital competition rather than assume that proximity to the asset made its priority self-evident. The promotion to COO followed the expansion of this coordination work across the portfolio.

Reason for the move

Promoted to coordinate the wider operating portfolio

Apr 2008 — Jul 2013

Commercial project manager, thermal developments

Brackenver Power

Sector
District-energy development and delivery
Ownership
Privately financed infrastructure developer
Company scale
Project budgets of C$8 million–C$35 million within assigned work
Employees
Company workforce of approximately 190
Geography
Canadian institutional and mixed-use developments
Reporting to
Development director
Team
Cross-functional project groups of twelve to twenty; specialist approvals retained by functional leads
Financial scope
Assigned project budget coordination and commercial milestones

Mandate

Connect engineering scope, customer commitments and delivery schedules before handover

Outcomes

  • Separated prospective building connections by commercial status
  • Introduced clearer change records for customer timing assumptions
  • Coordinated operating handover requirements earlier in project planning

Decisions in context

I joined a development business to understand the commercial decisions that preceded the assets I had previously assessed as an engineer. My role brought together customer discussions, project budgets and engineering milestones. I coordinated specialist teams but did not replace their technical or legal authority. I found that the same project could appear to have a settled future in a drawing while its anchor buildings still faced uncertain construction dates. Keeping those differences visible became an important part of my work. I also helped define the material an operating team would need at handover, including changes from the original assumptions. The experience gave me a practical appreciation of development exposure. I moved to Alderquell because I wanted responsibility for the service after completion and the opportunity to see how those early choices performed over successive operating seasons.

Reason for the move

Chose an operating general-management role to remain accountable after construction

Jan 2003 — Mar 2008

Asset-planning engineer

Norvessan Utilities

Sector
Municipal thermal utility assets
Ownership
Municipally owned operating utility
Company scale
Contributed to renewal plans of approximately C$12 million annually
Employees
Utility workforce of approximately 230
Geography
Ontario
Reporting to
Asset-planning manager
Team
Individual specialist working with five planning and inspection colleagues
Financial scope
Prepared cost and condition evidence; no independent capital approval

Mandate

Translate asset condition and service history into prioritised renewal proposals

Outcomes

  • Improved the traceability of condition evidence in renewal requests
  • Recorded uncertainty where inspection access was limited
  • Connected recurring service problems with planned interventions

Decisions in context

The planning role taught me to make a technical concern useful to a decision-maker who was comparing many demands on limited funding. I worked with inspections, maintenance history and cost estimates under the asset-planning manager. Some evidence was incomplete, and I learnt not to manufacture precision merely because a planning table required a single number. I described what had been observed, what remained uncertain and the service consequence of waiting. My contribution supported the utility's renewal programme; I did not approve the capital allocation or direct plant operation independently. The work also showed me how earlier commercial and design assumptions could shape an asset's later obligations. I sought the subsequent project role to understand that earlier stage more directly and gain experience coordinating a broader group around a defined delivery commitment.

Reason for the move

Moved into development to broaden commercial and project responsibility

Sept 1999 — Dec 2002

Graduate mechanical engineer

Norvessan Utilities

Sector
Thermal utility engineering support
Ownership
Municipal utility
Company scale
Supervised assignments without revenue responsibility
Employees
Worked within utility engineering and maintenance teams
Geography
Ontario
Reporting to
Senior mechanical engineer
Team
Graduate individual contributor
Financial scope
Prepared assigned estimates and records for review; no delegated investment authority

Mandate

Learn asset surveys, maintenance documentation and supervised project delivery

Outcomes

  • Completed supervised surveys and drawing reconciliations
  • Supported maintenance records with field observations
  • Prepared handover material for review by experienced engineers

Decisions in context

I entered utility work after completing my engineering degree and learned through supervised assignments alongside experienced engineers and operators. The work included checking drawings, supporting surveys and preparing records for review. I was not authorised to change operating arrangements or approve engineering work on my own. I found that the history behind an installation often mattered as much as its current drawing, particularly where modifications had accumulated over time. Listening to maintenance colleagues helped me identify questions that a desk review would miss. I also learnt that a handover document needed to be usable by the next team, not merely complete in a project folder. Those habits supported my move into asset planning, where the task was to connect observations across several assets and explain which ones deserved further investigation or renewal.

Reason for the move

Progressed to an asset-planning specialist position

What I am looking for next

I would like my next external contribution to sit with an energy or civic-infrastructure board that is making a substantial transition while remaining accountable for an existing service. My experience is most useful where investment timing, uncertain demand and asset condition interact. I can contribute to a disciplined comparison of options and help directors distinguish a development opportunity from an operating obligation. I would not seek a seat that requires specialist authority I do not hold or a relationship designed to influence our own procurement. My available annual commitment is eighteen days for one appointment, with preparation, site visits and exceptional demands discussed before acceptance. I remain responsible for Alderquell and would obtain the necessary approval for outside work. Alongside a possible board role, I am interested in conversations that bring development and operating leaders together earlier in an investment process. The aim would be to improve the quality of the next decision, not to present my current company's sequence as the appropriate answer for every network.