Bright Capital, the venture unit of Russia-based conglomerate RuCom, and Presidio Ventures, a venture unit of Japan-based conglomerate Sumitomo, have helped Siluria Technologies, a US-based natural gas conversion company, raise $30m.

Siluria’s technology converts natural gas into fuel, plastics and chemicals.

Bright led the C round alongside Microsoft co-founder Paul Allen’s Vulcan Capital. Other backers of the company were UK-based foundation The Wellcome Trust, and venture firms ARCH Venture Partners, Alloy Ventures, Kleiner Perkins Caufield and Byers, Lux Capital, and Altitude Life Science Ventures.

Siluria has now raised $63.3m in its history. Last year it raised $20m, while in 2010 it raised a $13.3m A round.

Mikhail Chuchkevich, managing partner at Bright Capital, said: “Siluria’s technology truly unlocks the potential of natural gas. Currently, the use of natural gas is largely limited to heating and the production of electricity. Oil is more valuable, because it can be converted into wide…

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