SOURCE: Senscient Inc.

Senscient Inc.

July 12, 2011 11:06 ET

Senscient Inc. Attracts Lime Rock Partners and Closes Series C Financing

HOUSTON, TX--(Marketwire - Jul 12, 2011) - Senscient, Inc. announced today that the company 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.

Senscient's patented Enhanced Laser Diode Spectroscopy (ELDS ™) is the first multi-gas Open Path Gas Detection system capable of detecting both combustible and toxic gases, simultaneously and independently, with extraordinary sensitivity, minimal maintenance, and false alarm free operation.

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.

About Lime Rock Partners

Established in 1998, Lime Rock manages $3.9 billion of private capital for investment in the energy industry through Lime Rock Partners, investors of growth capital in energy companies worldwide, and Lime Rock Resources, acquirers and operators of oil and gas properties in the United States. With $3.0 billion under management, Lime Rock Partners is a creative, value-adding, and long-term investor of growth capital in exploration and production, energy service, and oil service technology companies worldwide. From four locations worldwide, the Lime Rock Partners team brings together a global network of relationships, deep interdisciplinary expertise in finance and energy company operations, and a strong track record of value creation. For more information, please visit www.lrpartners.com.

About Emerald Technology Ventures

Emerald Technology Ventures is a global leader in cleantech venture capital and operates from offices in Zurich, Switzerland and Toronto, Canada. Founded in 2000, Emerald is a pioneer in this rapidly emerging sector and is focused on innovative technologies in energy, advanced materials and water. Since inception Emerald has managed three venture capital funds and two venture capital portfolio mandates totaling over EUR 300 million (USD 440 million). Please visit www.emerald-ventures.com

About Yellowstone Energy Ventures

Yellowstone Energy Ventures is an energy technology capital fund sponsored by Yellowstone Capital Partners LLC of Houston, Texas. Yellowstone Energy Venture currently holds investments in a variety of companies in the solar, advanced lighting, alternative fuels and gas detection sectors. Yellowstone Capital Partners was established in 1993 and, in addition to its venture capital activity, seeks more traditional private equity investment in energy, manufacturing, water and branded food products. Please visit www.yellowstonecapital.com

About Senscient, Inc.

Senscient was established in 2004 to develop, manufacture and market advanced gas detection products for industrial safety, risk management, environmental monitoring, and process analysis applications. The technology developed by Senscient solves major problems associated with traditional NDIR-based fixed gas detectors by eliminating routine re-calibration, sensor replacement, unreliable readings and false alarms that cost industries millions of dollars in lost revenue annually. For additional company information and a complete list of products, please visit www.senscient.com.

Contact Information

  • FOR ADDITIONAL INFORMATION CONTACT:

    Senscient, Inc.
    Jean Berthold
    CMSO, VP
    Phone: 1-713-953-8663
    toll-free 1-877-eSIMUGAS (1-877-374-6842)
    Email: Email Contact
    www.Senscient.com

    2951 Marina Bay Drive
    Suite 130-307
    League City, Texas, USA 77573-2785