Close Ventures, the UK-based venture capital trust manager, has led a GBP 4.36m round of funding, with Foursome Investments and existing investors, into Oxsensis, an industrial technology
Close Ventures, the UK-based venture capital trust manager, has led a GBP 4.36m round of funding, with Foursome Investments and existing investors, into Oxsensis, an industrial technology firm based in the Rutherford Appleton Laboratory in Oxfordshire, England.
Oxsensis develops fibre-optic instrumentation for precision controls in super harsh environments such as aero engines, power-generating gas turbines and ultimately automotive applications. According to a statement from Close Venture, Oxsensis ‘is poised to revolutionise instrumentation in these sectors having developed the world’s only commercial temperature and pressure sensors capable of functioning at over 1000 degrees Celsius, a temperature at which no such sensor has been capable of operating to date.’
Close Ventures was attracted not only to the company’s world leading technology but also to the large market opportunity and significant market need as illustrated by its ongoing collaborations with some of the world’s foremost aerospace and automotive OEMs. Responding to market demands for improved sensors within the hottest parts of engines, to optimize combustion and operating conditions, Oxsensis’ technology is capable of enabling significant improvements in engine emissions and efficiency, assisting OEMs to meet increasingly stringent environmental emissions targets. In addition the technology is capable of being deployed in a range of other harsh environments including safety critical applications in aerospace.
David F Gahan, Chief Executive Officer, Oxsensis says: ‘I am delighted; the GBP 4.36m investment will enable Oxsensis to move forward into solid industrial supply of sensors to our customers in major energy consuming industries. We hope to play our part in some major programmes to achieve breakthrough efficiency targets and step-change reductions in emissions.
‘This will put optical sensors right into the heart of some of the world’s most advanced engine and power plant developments’.
