RANCHO CUCAMONGA, Calif., July 9, 2007 (PRIME NEWSWIRE) -- The $14 million C-Round of a funding was led by Nomura's New Energy & Clean Technology Ventures. Nomura, one of Asia's leading investment banks, was joined in this round by SpectraSensors' three current investors, American River Ventures, Blueprint Ventures and Nth Power LLC; and by CTTV Investments LLC, the venture capital arm of Chevron Technology Ventures, as a new investor.
SpectraSensors has grown rapidly to become the supplier of choice for a variety of gas analyzer products. The latest round of funding will enable it to accelerate growth and continue to introduce superior products and services to its established customer base, which includes leading oil and gas companies.
"Having recently announced the acquisition of Integrated Information Technologies, and several major new product announcements, the addition of Nomura and Chevron as investors will greatly enhance our market strategies," SpectraSensors CEO, George Balogh stated. "The investment will expand SpectraSensors' endeavors to develop superior analytical technologies, expand worldwide distribution channels and strengthen its brand as a premier solutions provider for hydrocarbon processing and natural gas industries."
"This company has experienced exceptional growth over the past four years and has attracted blue chip North American energy customers," said Russell Pullan, Director of Nomura's New Energy & Clean Technology Ventures. "Our decision to lead this round of financing demonstrates our confidence in SpectraSensors' seasoned management team. There is a lot of excitement in the industry over the companys' recent launch of new products such as an innovative hydrogen sulphide analyzer and a unit to measure the energy content of gas. With its novel laser technology and real-time measurement, we believe they are well on their way to becoming an industry leader and the number one global supplier for gas-quality measurement."
New Energy & Clean Technology Ventures is a division of Nomura's merchant banking business in Europe launched in late 2006.
About SpectraSensors, Inc.
SpectraSensors, Inc., headquartered in Rancho Cucamonga, California with sales and customer support in Houston, Texas, was incorporated in 1999 as a technology spin-off of the NASA/Caltech Jet Propulsion Laboratory. The company is a leading manufacturer of optically based gas analyzers for the analytical process and natural gas markets. Typical applications include energy measurement, moisture analyzers, hydrogen sulfide analyzers, and other analytical products for natural gas pipelines, refineries, petrochemical processing plants, and airborne water vapor and other atmospheric measurements from commercial aircraft for the U.S. and International Weather Services. More information: www.spectrasensors.com
About Nomura
Nomura is a global financial services group dedicated to providing a broad range of financial services for individual, institutional, corporate and government clients. The Group offers a diverse line of competitive products and value-added financial and advisory solutions through its global headquarters in Tokyo, over 155 branches in Japan, and an international network in 30 countries; with regional headquarters in Hong Kong, London, and New York. The Group's business activities include investment consultation and brokerage services for retail investors in Japan, and, on a global basis, brokerage services, securities underwriting, investment banking advisory services, merchant banking, and asset management. For further information about Nomura please visit our website at www.nomura.com.
About Chevron Technology Ventures
Chevron Technology Ventures (CTV), a division of Chevron, USA, Inc., champions innovation, commercialization and integration of emerging technologies and related new business models within Chevron. CTV is pursuing this goal through business units involving biofuels, hydrogen, emerging energy and venture capital. Chevron Corporation is one of the world's leading energy companies. With approximately 56,000 employees, Chevron subsidiaries conduct business in approximately 180 countries around the world, producing and transporting crude oil and natural gas, and refining, marketing and distributing fuels and other energy products. Chevron is based in San Ramon, Calif. More information: www.chevron.com
About American River Ventures
American River Ventures, with over $100 million under management, is an early-stage venture capital firm based in Roseville, California. ARV invests in information technology and communications companies in Northern California and throughout the Western United States. The firm helps entrepreneurs accelerate the growth of their companies by applying the investment team's technical backgrounds and extensive operating experience. More information: www.arventures.com
About Blueprint Ventures
Blueprint Ventures is a seed-and-early-stage venture capital firm focused on infrastructure software, systems and components for information technology. Located in the San Francisco Bay Area, the Firm combines extensive experience in early-stage investing with an emphasis on backing early-stage corporate intellectual property (IP) spinouts. The Firm targets companies that deliver disruptive technologies to market in a capital and time-efficient manner. Blueprint backs seasoned entrepreneurs and helps them achieve market leadership positions. More information: www.blueprintventures.com
About Nth Power
Nth Power focuses on high-growth investment opportunities in the trillion-dollar global energy and utility marketplace. Nth Power began investing in 1997 and has over $250 million under management, with investments in energy intelligence, power reliability, distributed generation and related services. Nth Power's industry partners include leading electric and gas service providers and equipment manufacturers from around the world. More information: www.nthpower.com