SpectraSensors, Inc., a leading supplier of optical sensors for industrial and environmental gas sensing applications, has raised in excess of $6m in new financing from both current and new investors.
The development ensures that the company is able to oprate from a 'solid financial position' and therefore, continue to expand both its product offering and its overseas activities.
Investors participating include Blueprint Ventures, Nth Power, American River Ventures, Nomura Private Equity Investment, and Chevron Technology Venture Investments.
George Balogh, CEO of SpectraSensors, stated positively, $quot;This investment, along with operating changes implemented earlier in the year, provides us with a solid financial position while continuing our expansion into overseas markets, strengthening our customer support activities and product offerings worldwide.$quot;
Over the past year alone, SpectraSensors has launched 34 new process applications for refineries, olefins, gas processing and petrochemical plants. New applications include trace measurements of water, acetylene, hydrogen sulfide and carbon dioxide in a variety of process chemical streams.