Ciris Energy, a Centennial, Colorado-based company focused on enhanced natural gas and chemical production from low rank coals worldwide, raised $25m in Series C financing in two separate transactions (of $10M and $15M).
Asia Pacific Capital of Hong Kong invested in the company, which will use the funds to execute commercial projects beyond its current domestic activities.
Founded in 2007 and led by Dr. Jay Short, CEO, and Greg Jenkins, COO, Ciris Energy proprietary technologies that stimulate and optimize natural occurring processes to rejuvenate unproductive coal territories and convert it into natural gas and chemicals.
The company is currently operating its first-phase commercial ISBC plant in the Powder River Basin of Wyoming and is targeting initiation of a demonstration plant in 2014 for its ESBC process.
26/07/2013: Ciris Energy Closes Round of Financing