CANADA – Cnergreen, a Calgary, AB, Canada-based startup manufacturing stable foams for CO2 injection in enhanced oil recovery (EOR), raised $2M in Seed funding.
The round was led by Rhapsody Venture Partners. The company intends to use the funds to fast-track field trials and commercialization.Led by CEO Ali Telmadarreie, Cnergreen is a startup manufacturing stable foams for CO2 injection in enhanced oil recovery (EOR). Its patent-pending ArmorFoamTM technology, developed at the University of Calgary, enables underground foams to remain stable for months at high pressures, temperatures, and salinities. The first application is improving CO2 enhanced oil recovery (CO2 EOR) in the oil and gas industry. Cnergreen has scaled its manufacturing capabilities and is currently conducting field testing in conjunction with an existing CO2 project. They are currently scheduling field trials with additional operators in the US and Canada in the first half of 2024.Cnergreen is an advanced materials startup spun out of the University of Calgary. 26/01/2024
