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Ciris Energy Closes Round of Financing from GE, Braemar Energy Ventures and Rho Ventures.

CENTENNIAL, Colo. -- Ciris Energy, Inc, an emerging technology-based energy production company, has closed a round of financing with GE Energy Financial Services, a unit of GE (NYSE: GE), Braemar Energy Ventures and Rho Ventures in funding Ciris' next stage of development.

Ciris Energy is developing its proprietary technology to biologically convert coal to methane in large-scale quantities at low cost. The company is currently conducting commercial-scale field tests of its lab-tested technology. The company's technologies are more economical than conventional natural gas development and thermo-chemical gasification processes.

"We're excited about the transformational potential of Ciris's coal bio-conversion technology," said Kevin Skillern, Managing Director and head of venture capital at GE Energy Financial Services. "GE is an ideal partner to assist Ciris in the successful commercialization of its technology."

Jerry Clark, CEO of Ciris Energy, commented, "We are pleased that GE has joined our company as an investor and as a strategic partner. In 2010, Ciris will further demonstrate how its novel technologies can transform coal simply and efficiently to produce clean, low-cost energy."
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Publication:Business Wire
Date:Jan 27, 2010
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