H2Scan(TM), a leading provider of hydrogen-specific leak detection and real-time process monitoring systems, announced it has secured $2.54 million in Series B funding to expand its management team and increase sales, marketing and product development efforts. Investors in this round include Chrysalix Energy Limited Partnership, Pasadena Angels, Tech Coast Angels (TCA) and H2Scan's founder and CEO.
"We believe H2Scan has the potential to be a dominant player in the large and growing market for hydrogen-specific sensing devices," said Mike Walkinshaw, managing director, Chrysalix. "The uniqueness of H2Scan's technology, capable management team and huge sales potential continue to make the company an attractive investment for us." H2scan's hydrogen-specific sensing systems essentially eliminate false readings by detecting the presence of hydrogen, with or without oxygen, against virtually any background gas. H2Scan's technology works in seconds, even when hydrogen is present in concentrations of only 10 parts per million (PPM), over a wide range of temperatures and without cross-sensitivities to any other substances.
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