Madrid, October 26, 2023. COFIDES will support Xcalibur Multiphysics –a company that specializes in natural equity mapping– through its international expansion, focusing on Canada and Kazakhstan.

COFIDES will provide a loan from the Fund for Foreign Investment (FIEX) for the acquisition of the Canadian company MPX Geophysics, which has a presence in Latin America and more than 15 years of experience in the aerial geophysics sector. Thanks to this acquisition, the sales team of said company will be added to the Xcalibur Multiphysics workforce and the network of connections on the American continent will be strengthened.

Additionally, COFIDES will provide Xcalibur Multiphysics with a loan from its own resources for the company's commercial establishment in Kazakhstan. To this end, a joint venture has been undertaken with a leading local company in the country dedicated to providing aerial geophysics services and which has extensive knowledge in the sector.

COFIDES and Xcalibur Multiphysics have previously collaborated to contribute to the company's expansion in Colombia and India.

The corporate head of the COFIDES Investment Division, Miguel Ángel Ladero, pointed out that “COFIDES has accompanied the company since its early phase and values its recent growth very positively, positioning itself as a market leader.” Likewise, he noted that "it is very important to support the growth of companies with a high technological value and which are committed to innovation, becoming more competitive, and creating quality jobs."

Additionally, Andrés Blanco, CEO of Xcalibur Multiphysics, made the following comment: “Thanks to the support of COFIDES, we have had the opportunity to expand our solutions in key strategic locations. This support not only drives our growth and global presence but also allows us to play a critical role in natural equity exploration so as to achieve a fair ecological transition. Both corporations are working hard for the future of technology. At Xcalibur Multiphysics, we are grateful to COFIDES for making this important work possible.”

The combination of Xcalibur Multiphysics with MPX will bring about new solutions for customers, such as LIDAR and low-frequency EM options, further expanding the reach and services offered in the Americas.

Xcalibur has acquired all the shares of MPX Geophysics and, in terms of its services, a smooth integration is expected. The services offered by MPX are similar to those that Xcalibur already provides, although especially focused on America – something which will facilitate the transition for clients and guarantee continuity in terms of service quality and scope, as well as allowing for the development of different projects arising out of the acquisition. The acquisition will also include the assumption of MPX Geophysics' offices in Mexico and approximately 12 additional employees.

These two transactions contribute to the achievement of Sustainable Development Goal (SDG) 8 (Decent Work for All and Economic Growth), as they are expected to create jobs (30 in Kazakhstan and 20 in Canada). 


Xcalibur Multiphysics is a global leader in airborne and mapping geophysics industry, providing comprehensive and sustainable solutions for mapping and assessing natural capital, renewable and non-renewable resources with +100 years of accumulated experience. 

Our mission is to apply technology and smart data to discover natural capital responsibly, help stakeholders create opportunities for growth and integration, and protect biodiversity. All this with the firm purpose of accelerating a just energy transition for a more sustainable economy, making us the partner of reference in natural capital mapping. 

With solid experience and a track record of exponential growth, Xcalibur Multiphysics offers a wide range of advanced services and technologies for the exploration and evaluation of mineral, energy and environmental resources. Owning a fleet of over forty aircraft equipped with geophysical systems, we map countries/land/geographycs/the Earth to identify the properties of the sub- and above-surface and discover potential areas of natural resources, such as critical minerals, hydrogen, or geothermal. Our multidisciplinary and highly qualified team of experts employs cutting-edge technologies, including gravimetry, magnetometry or radiometry, to interpret this smart data and generate detailed reports and accurate recommendations.   


COFIDES is a state-owned enterprise specialized in the management of State funds that provide medium- and long-term financing for private investments linked to different public policy purposes. COFIDES directly manages funds aimed at supporting the internationalization of Spanish firms, strengthening the solvency of companies severely affected by the COVID-19 pandemic, to attract foreign direct investment into Spain through co-investment deals and to contribute to the growth of the impact investment ecosystem in Spain. In addition, COFIDES supports the management of the financial cooperation portfolio of the Spanish Agency for International Development Cooperation, promoting sustainable development in emerging economies and developing countries. In the ownership structure of the Company, the Spanish State holds 53% of the equity. The remaining 47% is held by Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and Development Bank of Latin America (CAF).