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SulphCo completes offering

NNBW Staff

SulphCo Inc. of Sparks says it sold four million shares of its publicly traded common stock for $27.2 million. Half the shares were purchased by a private European investor, and half were purchased by investors who bought a SulphCo private placement in mid-2004.

The company said it will use the proceeds to finance the commercial rollout of its technology to reduce the sulphur content of crude oil before refining.