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RIYADH: Saudi Aramco’s investment arm was among a group of investors who awarded SR187.5 million ($50 million) to a Seattle-based manufacturing and technology software company.
Seeq Corp. said it had raised the new funds as part of a Series C funding round as the group of investors backing the financing were Altira Group, Chevron Technology Ventures, Cisco Investments, Second Avenue Partners and Saudi Aramco Energy Ventures (SAEV).
The extra $50 million brings Seeq’s total funding since its launch in 2013 to around $115 million. While the breakdown of figures was not given, Seeq did say that SAEV was already an existing investor from previous funding rounds. Seeq enables engineers and scientists to rapidly analyze, predict, collaborate, and share insights to improve production and business outcomes for its products. It operates across many sectors, including oil and gas, pharmaceutical, chemical, energy and mining.
Process and Control Today | Seeq Announces $50 million Series C Funding Round led by Insight Partners pandct.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pandct.com Daily Mail and Mail on Sunday newspapers.
Governors Wind Energy Coalition
Chevron Invests in Offshore Wind Energy for First Time Source: By Josh Saul and Kevin Crowley, Bloomberg • Posted: Wednesday, April 14, 2021
Chevron Corp.’s venture capital arm and Moreld Ocean Wind agreed to invest in Ocergy Inc.’s development and commercialization of floating offshore wind turbines.
The investment by Chevron Technology Ventures is its first in offshore wind. The size of the investments weren’t disclosed. Floating turbines would be useful in ocean areas that are too deep for fixed turbines.
“To my knowledge, this is the first investment by a U.S. oil major in offshore wind,” said Anthony Logan, a senior analyst at Wood Mackenzie Ltd.
Chevron Wades Into Offshore Wind for First Time – gCaptain gcaptain.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gcaptain.com Daily Mail and Mail on Sunday newspapers.