Thursday, April 22, 2010

Oxane Materials Finds $11.4M

Houston-based Oxane Materials, a firm developing nanotechnology products focused on oil and gas recovery for the energy industry, has raised $11.4M in a funding round, according to a regulatory filing by the firm this week. Details on the funding have not been announced by the company. Oxane Materials has previously received funding from Energy Ventures, a venture capital firm which invests in upstream oil and gas technology. Oxane is apparently working on a ultralight, ceramic proppant, OxFrac, used as an oil and gas recovery enhancer. More information »