Salamander Solutions, a heater technology developer spun off from oil and gas supplier Shell, has secured $7m in a series A round featuring the corporate’s strategic investment arm, Shell Ventures.
Eden Rock Group led the round, which also featured fellow investment firm Frontive Holding and MCAAA Holding, a subsidiary of electrical product and cable producer Yesss Group.
Spun out of Shell in March 2017, Salamander has developed cable-based heater systems for the oil and gas industry that provide functions such as improving steam operations or stopping the plugging of wells that produce high amounts of wax.
The startup has acquired the rights to the technology from Shell, where it was developed and piloted, and acquired a cable manufacturing facility owned by MCAAA.
Ben van den Brule, chief executive of Salamander, said: “Salamander Solutions has differentiating thermal technology previously unseen in the industry.
“We have successfully developed very long, durable continuous cables with high power output, solving the barrier to entry of subsurface, high temperature heaters and heating of long subsea flowlines.”