TRI Cap Portfolio - Gas Sensing Solutions
First Investment May 2006
In June 2006, TRI Cap finalised a £625,000 deal with a high-tech business start up, Gas Sensing Solutions (GSS).
Described by TRI Cap member and now finance director of GSS, John Burgon, as a start-up global business, GSS is currently developing and testing its product range. Its technology and products remain under wraps but all involved are confident that GSS will swiftly become a market leader in its chosen fields.
GSS announce the establishment of a dedicated production facility for the manufacture of key components of its gas sensors. Funding came from primary investors TRI Cap and Scottish Investment Bank
Gas Sensing Solutions Ltd (GSS) receives a £40,000 financial boost after winning first prize in the regional finals of Shell’s Springboard Award, for its high performance low power CO2 sensors that assist users in the building control market reduce energy costs by up to 20%. GSS is one of 125 businesses from Scotland, Northern Ireland and Northern England to enter the award scheme, all with innovative ideas to tackle climate change.
A £630,000 funding round is concluded for Gas Sensing Solutions (GSS), with TRI Cap, the Scottish Co-Investment Fund and SAT Systems. GSS is poised for significant growth and this funding will be used to strengthen current supply chain while ramping-up production and marketing of its product range.
Gas Sensing Solutions moves to a new purpose designed facility in Cumbernauld. The 3000 sq ft facility has been customized to meet high growth global demand for the company’s new solid state low power CO2 sensor.
Finance for the new facility, infrastructure and additional personnel was secured through funding from a combination of TRI Cap business angel syndicate and Scottish Co-Investment Fund.
GSS has also strengthened the existing engineering team through recruitment of three applications engineers and one production engineer.
A further funding round involving 18 TRI Cap investors raises more than £300k, including match funding from the Scottish Co-Investment Fund.
This investment provides additional working capital, while the company continues further product development of its highly innovative carbon dioxide sensors.
GSS is presented with a Highly Commended Certificate in recognition of their outstanding achievement in the 'Impact Through Innovation' category at the annual John Logie Baird Awards Gala Dinner held at the Glasgow Science Centre. GSS has continued to develop its technology, with an analogue output product and measurement range now extended to 100% Carbon Dioxide, now available. Its export markets are also growing, with GSS products now in use in a range of sectors in countries including China, Australia and New Zealand.
Cumbernauld based Gas Sensing Solutions is shortlisted to win a Shell Springboard award of up to £40,000.
Gas Sensing Solutions Ltd’s low cost carbon dioxide sensors minimise energy consumption and improve air quality in air and heating systems installed in many locations including school classrooms and in–car air conditioning.
TRI Cap Contact: John Burgon
Number of TRI Cap Investors: 23
GSS Contact: Alan Henderson, MD