By Greentech Lead Europe: SP3H, a Young Innovative
Enterprise, has raised 2.2 million Euros in a financial round. Truffle Capital
(long-standing institutional investor) and existing private investors have participated
in this funding round.
The investment will
help SP3H enhance its development plans and the production plans of its
innovative optical sensor.
“We are very honoured that Truffle Capital and our
investors have renewed their trust in us. This funding round will enable us to
continue implementing our strategy and roll out our development plan between
now and the end of 2014, i.e. the date scheduled for mass production of the industrial
systems,” said Alain Lunati, SP3H’s founder and chairman.
“Over the past 2 years, we have respected the
timetable set by our vehicle and equipment manufacturer partners, therefore
successfully validating several key milestones and technical components of our
proprietary approach,” Lunati added.
SP3H has developed a miniaturized optical sensor, known
as a Fuel Quality Sensor capable of measuring fuel quality and reducing
CO2 emissions, fuel consumption and pollutant emissions, whilst improving
engine reliability and performance.
“We are delighted to be able to continue supporting
SP3H and help finance the development work on their revolutionary sensor that
measures fuel quality and thereby contributes to protecting the
environment,” said Jean-Francois Fourt, the joint founder of Truffle
Capital.
In 2010, the company secured 2.5m euro in financial round
led by Truffle Capital.