Sapphire Technologies, a maker of equipment that converts wasted pressure into electricity, has raised $18 million in a Series C round led by Mitsubishi Heavy Industries Ltd. The funding round also included continued backing from Equinor Ventures, Cooper and Company, and Energy Capital Ventures®.
The Cypress, California-based company said it plans to use the new capital to expand production capacity at its recently opened California plant, increase deployments of its FreeSpin® In-line Turboexpanders in markets such as Japan, and move into additional industrial applications.
Turboexpanders capture energy that would otherwise be lost in processes like natural gas transmission and convert it into carbon-free power. By installing these systems in high-pressure wells and pipelines, infrastructure operators can generate reliable electricity without burning additional fuel.
“Japan is one of the most important global markets for Sapphire,” said Freddie Sarhan, CEO of Sapphire Technologies. “We are deepening our commitment to our Japanese clients. This partnership will accelerate the deployment of waste pressure power generation equipment across natural gas infrastructure, supporting the world’s surging energy demand.”
“Technologies such as FreeSpin® have the potential to play a meaningful role in the energy transition by converting existing pressure into electricity without additional fuel or direct emissions,” said Ricky Sakai, Senior Vice President, Investment & Business Development, Mitsubishi Heavy Industries America, Inc. “Our investment supports the next phase of field deployments in key markets intending to add dependable capacity where demand is growing and lowering carbon intensity.”
The investment comes as global energy companies seek ways to decarbonize operations while meeting rising demand for natural gas. Equipment like Sapphire’s turboexpanders offers utilities and pipeline operators an incremental way to add clean generation without large infrastructure overhauls.
Founded in 2021, Sapphire is among a crop of firms developing modular technologies designed to squeeze more efficiency out of existing energy assets. The company’s systems range from kilowatt to megawatt scale, providing both cost savings and emissions reductions.
Read more: Opinion: Keeping Up With Big Tech: What Natural Gas Providers Must Do To Stay Competitive
