Gas-sensing spectroscopy company Senscient closes series C funding round

Houston, TX--Patented Enhanced Laser Diode Spectroscopy (ELDS) gas-sensing technology from Senscient, the first multi-gas open-path gas detection system capable of detecting both combustible and toxic gases simultaneously and independently with high sensitivity, minimal maintenance, and false-alarm-free operation, will benefit from a significant investment in the form of a Series C funding-round completion. Lime Rock Partners, a global energy-focused private equity firm, led the Series C investment round and was joined by existing investors Emerald Technology Ventures and Yellowstone Energy Ventures.

Senscient's ELDS gas-sensing spectroscopy systems are currently protecting major industrial facilities across the globe, including the United States, Canada, Brazil, China, France, India, Germany, and Norway. The company says that new installations in additional countries are imminent in the second half of 2011 as customers experience the significant benefits and improved safety levels delivered by the ELDS system.

"ELDS systems are fast, reliable, sensitive, simple to install and result in significant savings in total cost of operation," said Rajat Barua, VP of Lime Rock Partners. "The technology is unique, qualified by major customers and certified in key international markets. We have been very impressed by the high caliber team of employees at Senscient and look forward to working closely with the company to implement strategies that will accelerate growth."

Senscient was established in 2004 to develop, manufacture, and market gas-detection products for industrial safety, risk management, environmental monitoring, and process analysis applications. The company says that its technology solves major problems associated with traditional non-dispersive infrared (NDIR)-based fixed gas detectors by eliminating routine re-calibration, sensor replacement, unreliable readings, and false alarms that cost industries millions of dollars in lost revenue annually.

SOURCE: Senscient; www.senscient.com/pressReleases/pr-series-c-financing.html