Thursday, July 19, 2007

Kleiner Perkins Funds Oil Biotech Firm

Venture capital firm Kleiner Perkins Caufield and Byers has quietly funded a Houston, Texas-based firm developing biotechnology for increasing production from mature oil wells. The firm, GloriOil, is commercializing technology from New Delhi, India-based The Energy and Resources Institute. According to GloriOil, the firm was founded in 2005 by the GCI Group, and maintains a manufacturing facility and research lab in Houston, Texas. GloriOil's focus is on microbial enhanced oil recovery technology. More information »