Mercuria leads funding round for engine tech firm ClearFlame

FILE PHOTO: A flag with the logo of Mercuria commodity trading house is pictured in Geneva, Switzerland, October 11, 2016. REUTERS/Denis Balibouse

LONDON (Reuters) - U.S.-based ClearFlame Engine Technologies has raised $30 million in a funding round led by global energy trader Mercuria and with backing from new investors including miner Rio Tinto, its chief executive told Reuters.

ClearFlame, whose technology allows diesel engines to run on more climate-friendly fuels, said the Series B round was also backed by WIND Ventures, the venture arm of Chile's COPEC, and existing investor Breakthrough Energy Ventures.