Sapphire Technologies Secures $10 Million Series B Funding to Accelerate Clean Energy Solutions
Sapphire Technologies, developer and manufacturer of energy recovery systems for hydrogen and natural gas applications, announced that it closed its Series B funding round. The $10 million investment — led by Energy Capital Ventures and joined by Marathon Petroleum, Chevron Technology Ventures, Equinor Ventures and Cooper and Company — will go toward accelerating the commercialization of Sapphire Technologies’ FreeSpin® In-line Turboexpander. Powered by this funding, targeted projections show the turboexpander increasing production by 400% by the end of the year. Moreover, the $10 million will bolster resources and expertise to support Sapphire Technologies’ mission to significantly reduce global carbon emissions.