USA – H2scan, a Valencia, CA-based provider of hydrogen sensors for electricity utilities and industrial markets, raised $70M in funding.
The round was led by LetterOne with participation from GS Energy.The company intends to use the funds to expand manufacturing and its auto calibration capabilities, add additional sales offices around the world, enhance its marketing capability as well as further R&D for the next generation of products. Led by CEO Dennis Reid, H2scan provides hydrogen sensors for a wide range of industrial leak detection and process gas monitoring markets including control systems, safety monitoring and alarm systems. The sensors are also used for electrical distribution reliability and are ideal for measuring hydrogen concentration in fuel cells, hydrolyzers and the hydrogen distribution pipelines to reduce carbon emissions.The company recently launched its “Gen 5” technology, a hydrogen sensor package based on H2scan’s application specific integrated circuit (ASIC) technology that makes it small enough and cost effective for utility transformer and safety and process applications.The Gen 5 uses the same validated H2scan sensor that has been used in over 20,000 installations worldwide.H2scan holds 27 patents on its core technology, software and electronics, and its products are sold in over 50 countries worldwide.H2scan’s customer base includes some of the largest manufacturing enterprises in the world including ABB, Siemens, GE Energy, Qualitrol, DOD, ExxonMobil, Shell, Chevron, Proctor & Gamble and more.22/02/2022
