Sapphire Technologies, a Cerritos, CA-based company that develops, manufactures and sells energy recovery systems for both natural gas and hydrogen industrial and commercial applications, closed a Series A funding round of undisclosed amount.
The round was led by Cooper and Company and joined by Equinor Ventures and Chevron Technology Ventures.
The company intends to use the funds to scale up manufacturing and distribution of its energy recovery systems for pressure let-down applications.
Led by Freddie Sarhan, CEO, Sapphire Technologies is a spin-off from Calnetix Technologies, known for its innovations in high-speed motors and generators, magnetic bearings and power electronics for a variety of applications and industries. These technologies are being applied by the company in its FreeSpin™ In-line Turboexpanders (FIT), which offset carbon emissions by converting waste pressure energy into clean and usable electric power.
These systems are specifically designed to convert the energy wasted in pressure reduction processes into clean electric power without interrupting manufacturing or processing activities.