Saudi Aramco Energy Ventures is investing US$30 million in Siluria Technologies, a pioneer commercial production of fuels and chemicals made from clean and abundant natural gas.
Siluria announced the initial close of its Series D financing round with this news on 20 August.
With Saudi Aramco’s major investment, Siluria has raised almost $100 million since start up.
Siluria has developed a catalytic process for transforming natural gas into transportation fuels and commodity chemicals in a cost-effective way.
Siluria is currently in discussions with additional investors to complete a total Series D financing of approximately $50 million.