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..
Sapphire Technologies’ FreeSpin® In-line Turboexpander (FIT) Generator uses advanced magnetic technologies that help reduce hydrogen gas pressure and provide a way to capture the energy lost in pressure reduction. Liquefaction allows hydrogen to be stored in its densest state and transported with highest efficiency.
Photo of Sapphire Technologies
Press release https://goo.su/STxGxdD