Senscient has secured a significant investment to support the global deployment of it multi-gas detection system. The technology detects combustible and toxic gases and significantly increases the level of safety at industrial sites. 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.
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| ELDS™ Open Path Gas Detectors (OPGD) |
Senscient’s ELDS systems are currently protecting major facilities across the globe, including the United States, Canada, Brazil, China, France, India, Germany, and Norway. 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.
"Senscient offers a very compelling value proposition to its customers. ELDS systems are fast, reliable, sensitive, simple to install and result in significant savings in total cost of operation," said Rajat Barua, Vice President 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."
"We see Lime Rock's investment in Senscient as recognition of our technology capabilities by one of the world's leading energy-related private equity investors," said Richard Giffhorn, CEO of Senscient. "Working with our major investors Lime Rock, Emerald Ventures and Yellowstone Energy Ventures we expect to achieve new levels of business performance by expanding our technology offering, increasing our manufacturing capabilities and developing new market opportunities from expansion of our sales organization."
With this transaction, Trevor Burgess and Rajat Barua have joined the Board of Directors of Senscient, Inc.
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