Senscient Inc., a Houston-based developer of laser diode spectroscopy solutions, has raised $5.6 million in Series B funding. Emerald Technology Ventures and Yellowstone Capital Partners co-led the round.
PRESS RELEASE
Senscient Inc., a leading developer of laser diode spectroscopy solutions, today announced it has closed a USD 5.6 million Series B financing round. The funding is co-led by Emerald Technology Ventures and Yellowstone Capital Partners. The company will use the proceeds from this financing to expand all corporate and sales operations supporting its affordable, reliable, line-of-sight inflammable and toxic gas detector and process analytics market initiatives.
“Senscient's technology is all about providing better protection of people, capital plant and the environment, areas of ever increasing importance,” said Senscient Chief Executive Officer Lee Richman. “We have been really impressed by the commitment of Emerald and
“There is growing demand for more accurate and repeatable gas detection and measurement in a number of markets from safety to process control and environmental monitoring,” said Charles Vaslet, Investment Director and Energy Specialist with Emerald. “Senscient has invented an innovative process for increasing the sensitivity and selectivity to a wide range of gas compounds and, together with the possibility of multiple gas detection, offers a remarkable solution to industry and commerce. Applications areas will include monitoring in and around refinery and chemical process plants, within process monitoring for quality control and continuous emissions monitoring, mostly stack monitoring, for regulatory compliance.”
In connection with this Series B financing, Charles Vaslet and Luc Charron of Emerald Technology Ventures, and Bill Brewer of Yellowstone Capital Partners have joined the Senscient Board of Directors.
About Senscient Inc.
Senscient Inc., a Delaware C-corporation, was established in August 2006 with its Sales, Marketing and Financial headquarters in Houston, Texas, USA. Senscient, Ltd, the wholly owned subsidiary, was founded in January 2004 by Mr. Lee Richman to develop, manufacture and market advanced gas detection products for industrial safety, environmental monitoring and process analysis applications. The company's Development, Engineering, and Production operations are based in Poole, Dorset County, UK.
About Emerald Technology Ventures
Emerald Technology Ventures is a global leader in cleantech venture capital. Founded in 2000 under the name SAM Private Equity, Emerald is a pioneer in this rapidly emerging sector and is focused on innovative technologies in energy, advanced materials and water. From offices in Zurich, Switzerland and Montreal, Canada, Emerald manages three venture capital funds and two venture capital portfolio mandates totalling over EUR 300 million (USD 440 million). Emerald is currently investing out of its latest fund and is looking for energetic and passionate entrepreneurs with the vision to build world-class clean technology companies.
About Yellowstone Capital Partners
Yellowstone Capital Partners LLC is a Houston based private equity firm focused on the alternative and renewable energy sector through its two venture capital funds — Yellowstone Energy Ventures, L.P. and Yellowstone Energy Ventures II, L.P. Yellowstone has been focused on the alternative and renewable energy space since mid-2004 and has made investments in a number of companies in the solar, fuel cell, wind, alternative fuel, nuclear and clean coal industries.
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