• H2scan

  Participated · Debt Financing · Jan 2020

  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.

• EnergySavvy

  Participated · Equity · Aug 2015

  EnergySavvy is a Seattle, WA-based cloud software company that provides utilities with data-driven solutions to improve customer experience, engagement and operations. The company offers cloud-based analytics and engagement tools to enable utilities to develop insights and deliver new customer experience solutions. EnergySavvy serves nearly 40 utilities and state energy programs. It is launching a Customer Experience Transformation (CXT) consulting practice, led by advisor Jim Madej, to help clients develop roadmaps, manage business cases and deliver new customer experience solutions. The company intends to use the funds from the financing to continue investing in its solutions. EnergySavvy is led by CEO Aaron Goldfeder. Founded in 2008 and based in Seattle, EnergySavvy builds cloud-based software to help utilities encourage customers to adopt energy-saving habits. The company recently launched Optix Engage Direct, a mail-in survey platform to engage households utilities can’t reach online, including older and lower-income customers. The new offline offering complements EnergySavvy’s existing online products as a way to reach customers who would benefit most from energy-saving programs. The launch reflects a deliberate expansion of channels rather than a replacement of its cloud software. An SEC filing shows the company raised fresh funding to add operating flexibility as it executes on these offerings. Tom King, former CEO of National Grid (Europe), joined the company’s board, prompting existing investors to increase their stakes. EnergySavvy provides utilities and their partners with Optix, a demand-side management system that uses real-time data analytics to engage customers, contractors and trade allies while optimizing program performance. The company is led by CEO and co‑founder Aaron Goldfeder and is based in Seattle, WA and Cambridge, Mass. EnergySavvy serves 24 utility and program clients in more than 20 states. The company announced it will use new funding to scale engineering and sales teams and is hiring. Financially, the company recently received additional investment and previously announced a $7M round (May 2014). EnergySavvy is a Seattle, WA- and Cambridge, MA-based provider of energy efficiency cloud software for utilities and state programs. Led by CEO and co-founder Aaron Goldfeder, the company offers Optix, a cloud-based platform that uses real-time data analytics to engage customers, contractors and trade allies while optimizing program performance. It serves 24 utility and program clients in more than 20 states. EnergySavvy raised $7M in funding to accelerate product development and expand sales and marketing. The round was led by Prelude Ventures with participation from existing investor Pivotal Investments, and Prelude’s Managing Director Tim Woodward joined the company’s board. EnergySavvy builds an online service that helps homeowners track energy use and quantify how energy-efficiency upgrades can save money. The company serves utility customers including Puget Sound Energy, Black HillsEnergy and Long Island Power Authority. CEO Aaron Goldfeder said the new capital will be used to expand existing revenue through the addition of new products and to grow the sales and customer support network. The company plans to build out its Seattle engineering team, targeting a total of 30 employees by the end of the year. EnergySavvy is led by Goldfeder and co-founder Leo Shklovskii. The latest financing was $3 million, bringing total funding to $5 million.

No current team members are available.