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Upwing Energy
Upwing Energy is Bringing Gas Production to New Heights
About Upwing Energy
Upwing Energy specializes in advanced subsurface compressor systems designed to enhance gas production and recoverable reserves. Utilizing proprietary magnetic technologies proven by its parent company, Calnetix Technologies, Upwing Energy offers state-of-the-art solutions that provide exceptional reliability and performance even in the harshest downhole environments. The company's flagship product, the Upwing Subsurface Compressor SCS 425, features a high-speed downhole compressor system driven by a magnetically levitated permanent magnet motor. This innovative design increases gas production by enabling greater drawdown close to the well perforations. The system's magnetic coupling transmits torque from the motor to the compressor without a mechanical shaft, eliminating the need for rotary seals and pressure compensating chambers. Electrical components are hermetically isolated to prevent failures common in traditional Electric Submersible Pumps (ESPs). Upwing Energy serves clients in the oil and gas industry, focusing on maximizing return on investment and recoverable resources. The business model revolves around selling and servicing these advanced compressor systems, generating revenue through product sales, maintenance contracts, and technology licensing.
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Funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| LATE VC✓Equity / VC | Nov 2022 | $22M | $88M | Undisclosed | ↗ |
| EARLY VCEquity / VC | Mar 2020 | $10M | $41M | Undisclosed | — |
Financials
Revenue, earnings and other financial measures where available. Years marked “E” are estimates.
Growth signals
Latest recorded traffic for Upwing Energy is 3.3K monthly website visits, up 175% over the last three months. Upwing Energy's team grew 19.4% over the past year.
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Investments and acquisitions
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Investors
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Seed1 investor entered at this stage
Cooper and Company
Source: Dealroom Talent Intelligence.
Global footprint
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Market sentiment
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