Funding for emissions monitoring business
Article Date: Sep 07 2007Lysanda, a developer of systems that measure pollutants emitted by vehicles, has received equity funding of £1 million from a mixture of public and private investors.
Half of the money is from the Sustainable Technology Fund, a public-private partnership managed by technology-focused venture capital firm E-Synergy. John White, director of E-Synergy, says that the potential market for Lysanda’s ‘world-leading’ products is huge.
‘Legislation to control pollution from transport is continuing to tighten, not only in the UK but in most developed and developing nations,’ adds White, who will now join Lysanda’s board. ‘This is set to create spiralling demand for effective systems that can monitor and help control emissions of pollutants such as carbon dioxide.’
Unlike existing competitors, Lysanda’s Eco-Log technology does not measure emissions directly but estimates it by close monitoring of how the engine is running. The company claims this makes it more accurate than its rivals.
CEO Alexander Willard says fleet operators have expressed ‘strong interest’ in Eco-Log since the launch of the prototype last year. He plans to complete the full commercial launch of the product by the end of the year.
The East of England Development Agency, one of nine Government-funded regional development agencies, also invested in this first round of funding for Lysanda, along with a number of private individuals.