Ciris Energy

About Ciris Energy

Established in 2007 by Robert Downey, a veteran of the oil and gas industry, Ciris Energy was a Centennial, Colorado-based firm focused on the bioconversion of low-value hydrocarbons. The company's core business involved developing and applying proprietary technologies to convert coal into pipeline-quality methane, also known as natural gas. This positioned the company in the CleanTech and energy production sectors, aiming to provide a more economically efficient and environmentally responsible alternative to traditional natural gas extraction and coal gasification processes.

Ciris Energy developed two primary proprietary processes: In-situ Bioconversion (ISBC) and Ex-situ Bioconversion (ESBC). The ISBC technology was designed to stimulate naturally occurring microbes in underground coal seams to accelerate the conversion of coal into methane gas, which could then be harvested. This process aimed to rejuvenate unproductive or non-mineable coal deposits. The complementary ESBC process was developed for the bioconversion of mined, low-rank coal into natural gas and other valuable chemicals in a controlled environment. The company's business model centered on deploying these technologies at a commercial scale, targeting clients in the energy and resource industries.

Throughout its operation, Ciris Energy secured significant venture capital funding to advance its technology toward commercialization. It raised an undisclosed Series A in 2010 from investors including GE Energy Financial Services and Rho Ventures. A notable Series B round in 2011, led by Khosla Ventures, raised nearly $24 million. This was followed by a $25 million Series C financing in 2013, with major investments from Asia Pacific Capital and follow-on funding from ConocoPhillips. Key investors over its history included Braemar Energy Ventures, GE Energy Financial Services, Khosla Ventures, Rho Ventures, and Energy Technology Ventures (a joint vehicle of General Electric, NRG Energy, and ConocoPhillips). Despite its patented technologies and substantial financial backing totaling over $62 million, the company ultimately ceased operations, with its status listed as 'Out of Business' as of November 2016.