VentureWire
July 6, 2020
By Joel Stonington
Glori Energy Gets Boost From Energy Technology Ventures
Energy Technology Ventures has invested in Houston-based Glori Energy Inc., whose technology helps extract trapped oil from mature oil fields.
Energy Technology Ventures is a joint venture involving GE, NRG Energy and ConocoPhillips focused on the development of next-generation energy technologies.
Additional financial details on Energy Technology Ventures' investment in Glori Energy were not disclosed.
Glori Energy's mission is to cleanly and safely recover billions of barrels of oil that are trapped in existing well reservoirs without having to drill new wells, according to a news release.
In 2007, Glori Energy raised a $10 million Series A round from investors including Kleiner Perkins Caufield & Byers.
