In two separate transactions, Ciris Energy was able to obtain a total of USD 25 million from Asia Pacific Capital of Hong Kong. In its Series C offering, Ciris was able to first obtain USD 10 million and then USD 15 million of Preferred Stock from APC. A private company headquartered in Colorado, Ciris Energy is involved in the production of enhanced natural gas and chemicals from low rank coals around the world.
APC is the newest investor to join the ranks of Ciris Energy's strategic partners that include ConocoPhillips, Braemar Energy, Energy Technology Ventures, Khosla Ventures, Lighthouse Capital Partners, Rho Ventures and Triplepoint Capital. APC specifically invests in developing companies that focuses on using new technologies that apply to Asia's growing economies.
Ciris Energy is now in the first phase of operations in its in-situ bioconversion (ISBC) plant located in Wyoming's Powder River Basin. ISBC is a process that "bioconverts" the carbon contained in coal.
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