Energy Ventures Invests In Ingrain

PRESS RELEASE
16 September 2007
 
The Houston based company Ingrain Inc. has secured an investment of $5 million from Energy Ventures, a leading Norwegian venture capital firm specializing in the upstream oil and gas technology arena.
 
Ingrain was founded by Henrique Tono, William Bosl and Stanford Professor Amos Nur and has developed proprietary technology which will provide the clients with unique insights from analysis of drill cuttings.
Ingrain computes permeability and other rock properties using a lattice Boltzman method to accurately simulate fluid flow through a digital rock.  Their proprietary approach enables the company to deliver near real time estimates of permeability and other rock properties during drilling.
 
Henrique Tono, the CEO of Ingrain, said: “We are very fortunate to team up with Energy
Ventures in our next phase of market penetration, their hands on partnership approach to
investing is exactly what Ingrain was looking for from an investor”.
 
Helge Tveit, Partner with Energy Ventures, said, “Ingrain is the amalgamation of decades of
studies and research in Stanford University, the leading rock physics institution in the world.
Energy Ventures is delighted to work with Ingrain to deliver an outstanding value proposition
to its clients”.
 
ENERGY VENTURES
Energy Ventures manages three oil and gas venture funds with a combined capital base of about US$350 million. Energy Ventures has offices in Stavanger, Aberdeen and Houston. Target companies are located in the Europe and North America, and will have a substantial international potential. Key drivers for investment are new technologies and their smart application to improve performance, raise productivity, reduce costs, or open up new territory for E&P activities.

Source: Internal

Nora Villarreal
(713) 993-9795
Author: Nora Villarreal
Phone: (713) 993-9795
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