H2scan manufactures hydrogen sensing products used for electrical distribution reliability, fuel cells, hydrolyzers, and hydrogen distribution pipelines. Its sensors are made in the USA, have no consumable parts, and certain models are self-calibrating for up to 10 years. The company recently launched its Gen 5 ASIC-based sensor package, designed to be small, low-cost, high-accuracy, and suitable for harsh environments; its validated sensors have been used in over 20,000 installations. H2scan holds 27 patents and sells products in more than 50 countries, with customers including ABB, Siemens, GE Energy, Qualitrol, DOD, ExxonMobil, Shell, Chevron, and Procter & Gamble. The business says its products require zero maintenance and aim to improve safety and monitoring across a wide range of industrial leak-detection and process-monitoring markets. H2scan closed a $70 million capital raise to support manufacturing expansion, enhanced auto-calibration capabilities, additional global sales offices, marketing, and further R&D for next-generation products, including a plan to launch over 20 new products in the next 30 months. H2scan develops proven, proprietary hydrogen sensors and monitoring technologies for utilities, petrochemical, refinery, and industrial customers. Its new Gen 5 product is an ASIC‑based hydrogen measuring sensor that is smaller, lower cost, high‑accuracy, operates at high temperature, and requires no maintenance or calibration. The Gen 5 system targets real‑time, on‑line monitoring of hydrogen in distribution transformers and is up to 80% less expensive and three times smaller than existing systems; ABB and other transformer industry leaders have tested prototypes and it is now in retail production. H2scan plans to use new funding to accelerate Gen 5 production, expand product offerings built on the Gen 5 platform, and scale manufacturing capacity. The company is building a proprietary automated sensor manufacturing capability and an automated calibration system to cut calibration time to less than one‑third of current requirements. H2scan holds 27 patents and sells products in over 60 countries to large industrial customers including ABB, Siemens, GE Energy, ExxonMobil, Shell and NASA. Founded in 2002 and operating near Los Angeles, H2Scan has developed a unique hydrogen-sensing technology and holds more than 20 patents worldwide. The company specializes in analyzers that measure hydrogen concentration in oil and mixed gases, serving the power industry, petrochemical, and oil refinery markets with leading applications for power transformers. H2Scan sells private-label systems, subassemblies, and fully integrated sensors to global multinational OEM customers and has distributor representation in over 65 countries. The company markets the only low-cost semiconductor solid-state hydrogen sensor available on the market and positions H2 measurement as a multi-billion-dollar opportunity tied to transformer health. Altran has made a minority equity investment in H2Scan and will act as its strategic development partner and take a board seat. The partnership will support custom system-design work, development of a new lower-cost sensor and ASIC, and production-efficiency initiatives. H2Scan develops hydrogen leak detection systems used in process analysis and safety industries. According to a regulatory filing, the company raised $5.5M in a funding round that first opened in April 2011 and included 34 investors. Details on the new funding have not been announced by the company. H2Scan has previously raised capital from investors including Chrysalix Energy, H5 Capital, Pasadena Angels, Ravinia Venture Fund, Tech Coast Angels, HGB Partners and Tri-Strip Associates. The company recently moved to a larger facility in Valencia. The filing and article do not disclose revenue, user metrics, or the financing instrument and terms. H2scan is a Valencia-based company that develops hydrogen leak detection and monitoring technology. The company focuses on sensors and systems to detect and monitor hydrogen leaks. In July 2008 H2scan completed a $4M Series D financing. The proceeds are earmarked to upgrade its production and R&D facility and to purchase additional equipment. H2scan also plans to use the funding to expand sales and marketing efforts. No operating metrics were disclosed in the article.

Total raised

$93M

Funding rounds

6

Latest round

Equity

Latest activity

Feb 2022