energy, Chemistry, VC

Soane Energy Raises Funds

Wade Roush 9/14/09

Soane Energy, a Cambridge, MA, startup that says it’s applying polymer chemistry and surface science to the development of cleaner and more efficient techniques for extracting oil and gas, announced today that it has obtained Series A venture backing from Intervale Capital and CTTV Investments, the venture arm of Chevron Technology Ventures. The amount of the funding was not disclosed. The company says it hopes to use its technology to reduce the environmental impact of the toxic tailing ponds created by petroleum extraction from the oil sands of Alberta, Canada.

Wade Roush is Xconomy's chief correspondent. You can e-mail him at wroush@xconomy.com, call him at (617) 252-7323, or follow him on Twitter at http://twitter.com/wroush.