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Newport Beach: Terralliance Technologies, a technology-based exploration company, has secured new funding to scale its Natural Resource Mapping (NRM) technology and address additional exploration opportunities beyond hydrocarbons, including gold and other minerals.
"Terralliance's NRM technology may have as big an impact on the entire field of exploration as AVO seismic had on oil and gas exploration, and we own the technology," said Terry Gerhart, CEO of Terralliance. "While hydrocarbon exploration has been our initial market, we confirmed during field trials that our NRM technology is also effective in detecting gold and other minerals," he added.
Terralliance also announced the appointment of W Michael Long, as Executive Chairman of the Board of the company. Terralliance develops and uses aircraft-based remote-sensing platforms to dramatically improve exploration success. The privately held company�s investors include Kleiner Perkins Caufield & Byers, Goldman Sachs and Passport Capital.
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