The investment vehicle set up by General Electric, NRG Energy and ConocoPhillips earlier this year seals another deal.
Energy Technology Ventures, which is investing a $300m corporate-backed fund, has invested an undisclosed sum in US oil services company Glori Energy.
Energy Technology Ventures is backed by US-based conglomerate General Electric, US-based utility NRG Energy and ConocoPhillips and is backing Glori, which helps extract trapped oil from mature fields in an effort to increase production.
Kevin Skillern, GE Energy Financial Services’ managing director of venture capital and representative of Energy Technology Ventures, said: "Glori Energy’s technology revives oil fields…
