Thursday, July 14, 2016

Alphabet Energy Opens Office In Houston After $23.5M Funding

Alphabet Energy, which develops products being used by the oil and gas industry to convert waste heat to power, said it is opening up a sales and support office in Houston, after receiving $23.5M in funding. The Silicon Valley company said the funding was led by Schlumberger, and also included GM Ventures, Osceola Capital Management, TPG, Claremont Creek Ventures and the California Clean Energy Angel Fund. Alphabet Energy's systems are used to convert waste heat into electricity, and is being used to generate reliable remote power at oil and gas sites--by converting gas flares into energy production--and at the same time, reducing carbon emissions. The company said the new office in Houston is due to oil and gas industry demand for remote power generation solutions. More information »