Altira® Congratulates ResFrac on Platform Investment and Announces Successful Exit

DENVER, April 28, 2026 /PRNewswire/ -- Altira Group LLC ("Altira"), a Denver-based venture capital firm investing in breakthrough energy and industrial technology solutions, today congratulated ResFrac Corporation ("ResFrac") on its platform investment. In connection with the transaction, Altira has fully exited its investment in ResFrac, marking another strong exit for Altira Technology Fund VI LP, further validating Altira's pioneering strategy of backing differentiated technologies at the intersection of energy, software, and industrial operations to produce top tier returns.

ResFrac has become a leader in physics-based subsurface simulation, helping operators improve how they design, optimize, and execute complex development programs. The company's platform uniquely integrates hydraulic fracturing and reservoir simulation in a single continuous model, enabling engineers to evaluate completion design, production performance, and subsurface interactions across the life of a well.

"ResFrac is exactly the type of company Altira was built to support," said Dirk McDermott, Founder and Managing Partner of Altira. "When we first invested, the technical foundation was already exceptional. The opportunity was to help translate that capability into a scalable, mission-critical software platform embedded in how oil and gas operators make subsurface decisions. The founding team was also exceptional. Mark McClure and the ResFrac team have executed on that vision, and this transaction reflects the strength of the platform and the business they have built."

Altira identified ResFrac as a differentiated technical asset with the potential to become foundational to subsurface decision-making. Over the course of its investment, the company evolved from a high-fidelity simulation engine into a broader subsurface platform, expanding its capabilities to include automated history matching, optimization, interference analysis, DFIT interpretation, and a growing suite of applications designed for everyday engineering workflows.

"ResFrac is a good example of how technical differentiation alone isn't enough—you have to translate it into how operators actually work," said Sean Ebert, Senior Partner at Altira. "From early on, our oil and gas operating partners helped pressure-test the product in real field development decisions, refine workflows, and accelerate adoption. That's what ultimately drove the shift from a highly capable simulation tool to software that engineers rely on day-to-day."

He added, "ResFrac has already proven the core technology and its relevance in the field. Their new investor partnership positions the company to scale commercialization, deepen account penetration, and extend the platform into adjacent subsurface workflows and energy applications. We're very happy to have had the opportunity to work in partnership with Mark and the team and excited to see what comes next!"

ResFrac is trusted by energy operators globally, from independents to supermajors and national oil companies. The platform is deployed across major unconventional basins and is increasingly being adopted for enhanced geothermal systems and other subsurface applications, expanding its addressable market and reinforcing the importance of advanced simulation in the future of energy development.

This exit reinforces Altira's ability to identify and scale deeply technical, energy-native software businesses that become strategic assets within their industries. ResFrac represents another example of technology developed within the oil and gas ecosystem evolving into critical infrastructure for operators and investors alike.

About ResFrac
ResFrac Corporation provides a fully integrated hydraulic fracturing and reservoir simulation platform purpose-built for complex unconventional reservoir development, enhanced geothermal systems, and conventional oil and gas applications. Headquartered in Palo Alto, California, ResFrac is trusted by operators across major unconventional regions in North and South America, the Middle East and a growing number globally.

About Altira®
Altira Group is a Denver-based venture capital firm that has invested in advanced technology solutions across the energy and industrial value chain for more than 28 years. In partnership with its oil and gas company strategic limited partners, Altira enables the next generation of industrial technologies, driving innovation across digital, automation, and core energy operations.

Beyond capital, Altira actively partners with entrepreneurs to scale their businesses, providing direct customer access, real-world validation, strategic guidance, and collaborative go-to-market support in partnership with its strategic industry investors and other relationships.

For more information, visit www.altiragroup.com.

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SOURCE Altira