Sapphire Technologies, the cutting-edge developer and manufacturer situated in Cerritos, CA, specializing in energy recovery systems for hydrogen and natural gas applications, announced a robust $10M Series B funding round on August 16, 2023.
Energy Capital Ventures led the impressive funding initiative, with notable participation from industry giants such as Marathon Petroleum, Chevron Technology Ventures, Equinor Ventures, and Cooper and Company. The capital infusion reflects growing confidence in Sapphire Technologies’ innovative approach to clean energy solutions and its distinctive product, the FreeSpin® In-line Turboexpander.
Under the visionary leadership of CEO Freddie Sarhan, Sapphire Technologies has firmly positioned itself at the forefront of global decarbonization. The company’s energy recovery systems are engineered to harness the power of gas expansion, translating energy typically lost during pressure reduction processes into clean and reliable electricity, all without interrupting standard operations.
The FreeSpin® system is emblematic of this transformation, generating an impressive 2.6 GWh of clean energy each year while simultaneously reducing atmospheric CO2e emissions by 2,000 tons. Since its inception in 2021, Sapphire Technologies has secured and initiated development on multiple installations, spanning locations from Japan to across the U.S. This global reach is complemented by a staggering 220% growth in the company’s workforce over the past year, with further expansion anticipated in the coming years.
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