Simmons Energy, an Aberdeen-based energy investment specialist, has been named PiperJaffraySM by Oxford Flow to raise strategic capital for its ambitious growth targets in the oil and gas industry.
The funding will be used to accelerate the expansion of its highly innovative flow control valve technology to multiple energy and industrial markets, the most important development in this area in the past 100 years. Simons Energy's Aberdeen office will lead the million-dollar financing.
NeilPoxon, CEO of Oxford Fluids, said: "We have produced the world's first 100% polymer valve body for water applications and a process that does not require mechanical actuators or diaphragms. Oil and gas valves that reduce leak paths and other failure modes. Our valves offer significant operational and reliability advantages over traditional oil and gas valves. We believe this financing will enable us to bring more customers to our customers faster. Many benefits."
The Oxford Flow valve was designed by Professor Tom Powell of the University of Oxford and is now the company's chief technology officer. Oxford Flow's valves are used in water networks around the world. The latest announcement, the early traction of oil and gas applications released after the successful trial and deployment of this technology by a major UK gas distributor, was also reached with a leading international operator that described Oxford Flow's technology as " Changing the rules of the game, there are multiple deployment paths in its upstream business.
Mike Beveridge, Managing Director of Simmons Energy (PiperJaffray SM Division) added: "In the past 18 months, we have established a partnership with Oxford Flow and are very happy to work with this company. Collaboration on important financing issues.” Oxford Flow's patented new valve design changes the rules of the water and hydrocarbon processing industry, and we look forward to helping them acquire significant new capital to support the continued development of these products and commercialize. "