Equinor Ventures invests in Sapphire Technologies
Equinor Ventures is pleased to announce an investment in Sapphire, a California based company developing technology to convert the energy wasted in pressure reduction processes into clean electric power.
Sapphire secures Series A funding as they scale up manufacturing and distribution of their energy recovery systems for pressure let-down applications. Sapphire’s FreeSpin™ Inline Turboexpander (FIT) consists of a high-performance, high-speed permanent magnet generator with an integrated radial in-flow expansion turbine and active magnetic bearings. It is installed inline, allowing operation without interrupting manufacturing or processing activities.
The FIT is designed to have the process gas flow through the system, cooling the generator section and eliminating the need for auxiliary cooling equipment. The FIT’s variable speed drive (VSD) and magnetic bearing controller are combined in one cabinet. The VSD allows for a consistent and clean delivery of generated power from the FIT to use on site or feed back into the grid.
"Equinor’s ambition is to become a net-zero energy company by 2050, and new solutions and technologies will be required for society at large to meet its climate targets. We are pleased to announce the investment in Sapphire as one contributor to help the energy industry reduce emissions and improve energy efficiency," said Gareth Burns, Head of Equinor Ventures.