Zahroof Valve continues growth, expansion with Aramco, NGP ETP funding
A Series C funding has been secured by Zahroof Valves Inc. (ZVI) from Saudi Aramco Energy Ventures (SAEV) and NGP Energy Technology Partners (NGP ETP). SAEV is the corporate venturing arm of Saudi Aramco, the world’s leading integrated energy enterprise. This new round of investment will facilitate the next phase of ZVI’s growth and global expansion.
“We are honored that Saudi Aramco Energy Ventures has decided to make an investment in ZVI and are pleased that NGP Energy Technology Partners continues to support our vision in the reciprocating compressor valve market,” said Tony Gioffredi, Chief Executive Officer of ZVI.
ZVI was established in 2010 and it focuses on improving the performance of reciprocating compressors through its game-changing compressor valve. The ZVI Straightflo Valve, developed by Zahroof Mohamed, is a revolutionary design that is a direct “drop-in” replacement for all manufacturers’ compressor valves and can be operated in most compression applications. These include natural gas gathering, production, transmission and storage; CNG; FPSO; CO2 Enhanced Oil Recovery; H2 and others.
“Since our company’s inception, the ZVI Straightflo Valve has been successfully utilized in a number of applications in the oil and gas industry,” said Zahroof Mohamed, President and Chief Technology Officer at ZVI.
“The ZVI Straightflo valve represents a step-change in both reliability and performance for reciprocating compressor valves. ZVI has a seasoned team and a list of marquee customers indicative of its prospects for widespread adoption,” said Daniel Carter, Investment Director at SAEV.
These valves are sold directly to OEMs and end-users in North America and through distributors in key global markets. In addition to its industry-leading 10-year warranty, the ZVI Straightflo Valve has been shown to improve valve efficiency by up to 40% and significantly extend run time between valve service intervals by more than a factor of 5X.
Zahroof Valves Inc. was recently named the Bronze recipient of the 2016 Edison Award in the category “Carbon Reduction”. The company was also named a finalist in the 2015 Platt’s Global Energy Awards in the category “Rising Star – Company”; IHS CERA Week’s 2015 “Energy Innovation Pioneer Showcase Company” and Pipeline Industry Guild’s 2013 winner of the Land-based Pipeline Technology award.
“We are excited about our continued partnership with Zahroof Valves Inc.,” said Phil Deutch, Managing Partner of NGP Energy Technology Partners. “Combining the innovative technology of ZVI with the resources and network of the NGP ETP and SAEV platforms, will allow ZVI to continue its rapid growth as it continues to bring compelling solutions to the oil and gas industry.”