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Natural gas to fuel converter Siluria gets Saudi Aramco corporate venture backing

22 Aug 2014

gasCorporate venture capital investor Saudi Aramco Energy Ventures has led a $30m Series D financing round for natural gas to fuel converter Siluria Technologies.

The company works in the upstream, mid-stream gas processing and downstream chemicals production and refining sectors.

Siluria’s latest round brings its total raised since inception to just under $100m. The company said it is in talks to extend the Series D by another $20m.

Company CEO Ed Dineen said, “We are very pleased to welcome SAEV as a major investor in Siluria, and look forward to exploring opportunities to work together on the strategic front.

“We are excited to bring additional industry capabilities to our company and our board as we continue to progress towards commercializing our process.”

SAEV is the corporate venturing subsidiary of the Saudi Arabian Oil Company, a fully-integrated energy and petrochemical enterprise.

Headquartered in Dhahran with offices in North America and Europe, SAEV’s mission is to invest globally in start-ups and high growth companies with technologies of strategic importance to Saudi Aramco.

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