SensorTran, Inc., a developer advanced distributed temperature sensing (DTS) technologies, has announced a $3.5 million round of venture capital financing, which will be used for working capital and to accelerate the growth of SensorTran's Smart Grid and wellbore monitoring businesses. Participants in the round included Advantage Capital Partners, Expansion Capital Partners, WHEB Ventures, and Stonehenge Capital Company.
SensorTran, the only North American DTS manufacturer, develops distributed asset monitoring solutions that offer real-time, high-resolution and continuous temperature measurements along optical fibers. The company has deployed DTS systems in all major regions of the world to monitor oil wells, pipelines, LNG tanks, and power cables. SensorTran’s customers include Baker Hughes, Halliburton, Austin Energy, BC Hydro, and other Fortune 1000 companies.
“SensorTran’s continued innovation and international sales success will make us cash-flow positive in 2009,” said Kent Kalar, CEO of SensorTran. “This investment will help us to continue to aggressively grow the company despite the broader economic slowdown.”