Oilfield technology company Signum Instruments has secured a growth capital investment from NGP Energy Technology Partners (NGP ETP).
”Signum Instruments, is an innovative oilfield technology company that was formed to deliver the next generation of open-hole formation evaluation tools, with a particular emphasis on harsh and small-diameter environments for unconventional applications,” says founder and President, Weidong Liu. “The partnership with NGP ETP provides Signum with the financial resources needed to accelerate growth, build out its infrastructure, respond quickly to its customers and continue to develop new tools. Our vision is to be the trusted and preferred solutions provider for quality measurements in tough and unconventional logging in the oil & gas industry.”
”We are very excited about our partnership with Weidong and Signum,” says Michael LeBourgeois, Managing Director of NGP ETP. “By combining the formation evaluation and engineering expertise of the Signum team with the resources and network of the NGP ETP platform, we anticipate significant long-term growth potential and look forward to working side-by-side with Weidong to continue to build the business and bring dynamic solutions to the industry.”
Philip Deutch, Managing Partner of NGP ETP, adds: “NGP ETP's investment in Signum is another example of our focus on innovative products, services and technologies that impact the oil & gas industry, which is a key part of investing in energy technology.”
