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NAPLES — The Tamiami Angel Fund II says it has invested $750,000 in ZoneFlow Reactor Technologies, a company that develops technology to improve the productivity of oil refining and gas production.
“We are very pleased to have a fund like T2 decide to make a major investment in our company, and we treat that as a real compliment to our business plan and what we've accomplished to date,” says Bruce Boisture, CEO of ZoneFlow, in a statement.
This is the Tamiami Angel Fund II's sixth investment. The Naples-based member-managed fund invests in early stage companies in the United States.
Besides crude-oil production, the ZoneFlow technology can also be used to make ammonia for fertilizer, produce methyl alcohol and reduce ore in iron. The Connecticut-based company founded in 2007 is currently testing technology designed to improve efficiency in the production of hydrogen.
“T2's investment will fund continued product development and testing,” says Gerald Lippes, a member of T2's due diligence team, in a statement.
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