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Monday, Sep 25, 2023

DynaPump Receives $12 Million in Funding

Three energy technology funds ponied up a $12 million investment in a Northridge manufacturer of lift systems used in the oil and gas industry. The investment allows DynaPump Inc. to expand its manufacturing and after-sales service capabilities. The $12 million came from DFJ Element L.P., NGP Energy Technology Partners L.P., and return investor Chevron Technology Ventures. As part of the transaction, DFJ Element Managing Partner David Lincoln and NGP Energy Managing Partner Phillip Deutch will join the board of directors of DynaPump. “Our investors in this round command a depth of industry experience and network of contacts that are virtually unmatched in the energy technology sector,” said DynaPump founder Allan Rosman. “DynaPump will also benefit from the financial strength and business expertise of this group.”

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