Hong Kong Investor Backs Ciris’s Microbial Coal-to-Gas Process
This article is for subscribers only.
Ciris Energy Inc., a closely held U.S. company that uses naturally occurring microbes to convert coal to natural gas, received about $25 million from a Hong Kong-based investor to fund projects and expand internationally.
The undisclosed investor is providing $15 million in project financing and $10 million as equity in the company, Chief Executive Officer Jay Short said in an interview today. The capital will be used to expand into new sites in the U.S. and other countries, with a focus on Asia, Short said.