Irvine, California, January 12, 2011 – EmiSense Technologies, LLC today announced it has closed its second round of funding. The investment round was led by corporate investor CoorsTek, and included company management. EmiSense will use the US$3M in new funding to expand product development and support validation testing with global OEM customers.
“We are pleased to fund this next phase in our development,” states Patrick Thompson, CEO of EmiSense. “CoorsTek is a strong strategic partner, and the market conditions continue to align well for us. The favorable enterprise valuation is a direct reflection of successful customer evaluations, and CoorsTek confidence in our technology and business prospects.”
“EmiSense hit several key development milestones in 2010, and we are thrilled to support their ongoing progress in this strategic segment,” states Doug Coors, Executive VP of CoorsTek.
EmiSense is developing improved Oxygen Sensors, electrostatic Particulate Matter (PM, or soot) sensors, and simplified NOx (oxides of nitrogen) Sensors. “We’ve made good progress across all three product lines,” explains Mr. Thompson “but we’re especially pleased with the rapid development of our soot-sensing platform. Not only is it meeting the mandated requirements for on-board diagnostics (OBD), it is also demonstrating the resolution and response times required for pre-DPF applications, all while competing effectively from a cost perspective.”
Clean diesel demand, including both on-road and off-road applications, are the major nearterm drivers for smart sensors, while GDI and HCCI applications are also expected to benefit from sensing technologies breakthroughs. “The trends towards downsizing and turbo-charging will continue, regardless of geography or fuel stock,” concluded Mr. Thompson. “These trends require smarter sensors to maximize efficiency while minimizing emissions.”
More about EmiSense Technologies:
With operations in California and Utah, EmiSense Technologies develops smart sensors for clean emissions. Clean combustion is the most impactful form of clean technology in the next decade. EmiSense products are critical enablers for next-generation ultra-efficient engines – helping address the problems of fossil-fuel dependence and climate change. For more information on EmiSense, visit the Company’s website at www.emisense.com.