Ultra-high temperature sensors get £3m investment to improve efficiency of power generation
11th May 2010
Carbon Trust joins existing investors in backing world-leading British technology
Industrial technology firm Oxsensis, based in Oxford, has raised £3m in a funding round in which Carbon Trust Investments Limited has joined existing investors Albion Ventures, Seven Spires, Frog Capital, the Rainbow Seed Fund, and several high net worth individuals. Oxsensis has developed the world‟s highest temperature sensors which can be used in gas turbines, for example in power stations. They are capable of measuring heat and pressure in the harshest conditions where temperatures can reach over 1000°C: the equivalent of molten lava and hundreds of degrees hotter than traditional sensors can stand. With more accurate readings comes the possibility of running turbines at higher combustion temperatures, thereby increasing efficiency, lowering operating costs, and reducing carbon emissions.
The funding will support business development and help Oxsensis to further extend its sensor technology, which will have a market advantage by providing more accurate data than existing technologies and enabling optimal turbine efficiency. The company is already progressing from technology development to full scale commercialisation with long-term customer trials currently underway of initial products in its WavePhireTM sensor range.
The technology also has applications in the aerospace and automotive industries for helping engines to run more efficiently.
Peter Linthwaite, Managing Partner, of CT Investment Partners said:
“Oxsensis is a great British company that has both significant commercial and carbon-saving potential. Oxsensis‟s technology has strong customer validation, and the company has made significant technical progress under the leadership of an impressive management team.”
David Gahan, CEO of Oxsensis Ltd said:
“We are delighted that Carbon Trust Investments is joining with the strong line up of our current investors. Oxsensis technology is supporting developments across three critical carbon intensive industries and has the potential for significant impact.”
Oxsensis won the „Industry‟ category of the Carbon Trust‟s 2009 Innovation Awards which recognise success stories in the UK‟s growing low carbon economy.
The awards are judged by an independent panel of renowned clean technology-experts and entrants are rigorously assessed against a range of criteria including innovation, carbon saving potential, novel application and commercial potential.
Notes to editors
For more information or an interview please call the Carbon Trust press office on 0207 544 3100.
About Carbon Trust Investments Carbon Trust Investments Limited is the venture capital investment subsidiary of the Carbon Trust. Carbon Trust Investments has invested in 18 businesses over the last seven years. Two of these companies, Ceres Power PLC and CMR Fuel Cells PLC listed on AIM. A further portfolio company, Heliswirl Technology Ltd, has achieved a partial exit.
This press release is not to be construed as an invitation or inducement to engage in any investment activity. This document does therefore not constitute a financial promotion in the United Kingdom for the purposes of section 21(1) of the Financial Services and Markets Act 2000. The information contained in this press release is being made available solely as part of the Carbon Trust Group‟s general activity of promoting deployment of, and investment in, clean energy businesses and low carbon technologies.
About CT Investment Partners LLP
CT Investment Partners LLP is the FSA authorised and regulated venture capital advisory firm, jointly owned by Carbon Trust and its executives, which advises Carbon Trust Investments.
The Carbon Trust
The Carbon Trust is a not-for-profit company with the mission to accelerate the move to a low carbon economy, providing specialist support to business and the public sector to help cut carbon emissions, save energy and commercialise low carbon technologies. By stimulating low carbon action we contribute to key UK goals of lower carbon emissions, the development of low carbon businesses, increased energy security and associated jobs.
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