Cambridge, MA.-based Soane Energy, focused on reducing the environmental impact of crude oil exploration and production, secured its first institutional financing in a round led by Intervale Capital and also included CTTV Investments, the venture capital arm of Chevron Technology Ventures.
The company’s initial focus is on the oil sands market in Canada.
David Soane, Ph.D., founder of Soane Energy said: “The US Department of Energy projects that our reliance on fossil fuels will actually increase over the next two decades.
“While alternative energy will fulfill our power needs of tomorrow, Soane Energy’s technology can be applied today to improve the efficiency of oil and gas extraction and reduce the environmental impact of exploration and production”.
FinSMEs
14/09/2009