TORRANCE, Calif., Feb. 05, 2019 (GLOBE NEWSWIRE) -- Transient Plasma Systems Inc. (TPS), which develops and markets nanosecond pulsed power systems that unlock the potential of low-temperature plasma to be used in a variety of applications, today announced that it has completed an $8.5 million Series A funding round from Kairos Ventures.
This financing will enable the company to make immediate investments to expand the TPS infrastructure to pursue emerging opportunities including ignition of advanced high-efficiency combustion engines, emissions reduction, and industrial plasma processing, and position itself for future growth. The build-up includes investment in the core team, manufacturing base and intellectual property. The Series A follows a $1.5 million seed investment from Kairos Ventures, bringing the total investment from Kairos to $10 million. As part of the investment, James Demetriades, CEO of Kairos Ventures, will join the company’s board of directors.
"We are very excited to be working with Kairos Ventures. The Series A round builds on the success of the seed investment, which saw key technology development, the establishment of new markets, and growing revenue. With Kairos, TPS is committed to the development of creative, nanosecond pulsed power solutions and low-temperature plasma to solve real-world problems facing society and industries across the world. TPS technology will improve human and environmental health, and open new pathways to innovation, helping to resolve conflict between industrial production and its ecological impact," said Dr. Dan Singleton, CEO and co-founder of TPS.
"TPS continues to successfully execute on its vision to develop commercial nanosecond pulsed power systems that will provide capabilities to a variety of industries," said Demetriades. "I am particularly excited about the impact that TPS technology will make in the automobile industry and the dramatic engine efficiency gains TPS can enable."
About Kairos Ventures
Kairos Ventures invests early, often during the formative stages of a company, and works closely with the world’s leading scientists to commercialize their technologies. Depending on the stage of development and the capital requirements of each venture, they make investments between $150,000 and $20 Million. While KV investors are hands-on they also recognize that it is the entrepreneurs’ sweat, hard work and perseverance that will drive the growth of their companies. They strive to ensure that the founding team, who make the early sacrifices in pursuit of their venture, retain the majority of the ownership in their companies. In addition to providing early-stage capital, KV leverages their expertise and extensive network of professionals specializing in all disciplines required to build a successful company, including legal, finance, marketing, operations, business development and HR. They provide these services to early stage companies in their portfolio to allow the entrepreneurs to focus their energy on continuing to innovate and pushing the envelope in their respective fields.
About Transient Plasma Systems, Inc. (TPS)
Transient Plasma Systems (TPS) develops pulsed power systems to enable commercial, industrial, and research applications across a broad range of areas including combustion, bio-electrics and agriculture. The foundational technology was developed at the University of Southern California (USC), with over a decade of support from the Department of Defense. The company was spun out of the university with the express purpose of translating the technology into products and systems to respond to the demands of both military and commercial markets. The TPS team has a cumulative 50 years of pulsed power experience in solving the difficult challenges in producing compact nanosecond pulsed power. To learn more, please visit www.transientplasmasystems.com.
Transient Plasma Systems, Inc.
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