PARIS & AIX-EN-PROVENCE, France--(BUSINESS WIRE)--SP3H (a leading company in the field of fuel profiling [1]), today announced that it had raised €2.5 million. This round of financing was initiated by Truffle Capital, SP3H's longstanding institutional investor. SP3H also announced the consolidation of its Board of Directors, with the arrival of Peter Ward, Michel Eschalier and Jérôme Gallot.
The funds raised will be used to (i) finance the initial tests of a vehicle-embedded industrial sensor, (ii) initiate the marketing of the first systems for garages and car dealers and (iii) structure strategic industrial alliances (particularly in refining, petrochemicals and aeronautics sectors).
SP3H has developed miniaturized optical sensors for fluid analysis (including on-board fluids, such as fuel), which may have particular value in view of the coming EURO VI and EURO VI.2 standards. This type of technology can reduce internal combustion engines' CO2 emissions and fuel consumption while improving reliability.
Peter Ward (aged 69) has spent much of his international career leading international companies in the automotive and engineering sectors (notably Rolls-Royce Bentley, Jardines Motors, and Raymarine) in London, Hong Kong and New York. For ten years, he devoted himself to the development of clean-tech start-ups in the wind power industry and in sectors covering automobile assembly, instrumentation and electric motors. He was appointed as non-executive Chairman of the SP3H board on March 4, 2014.
First as an engineer and then as an executive, Michel Eschalier (aged 68) has primarily worked in the diesel engine industry in France and worldwide (Perkins, Lucas Varity, and Delphi Europe). He currently teaches management at the training institute run by IFP Energies Nouvelles (formerly the French Petroleum Institute) and acts as a business angel through the Réseau Entreprendre association.
As a lawyer and a graduate of the Institut d'études politiques and the Ecole Nationale d'Administration, Jérôme Gallot (aged 55) has worked for 25 years as a senior manager in industry, international trade, and corporate finance (at CDC Entreprises and Fonds Stratégique d'Investissement). Between 2011 and 2013, he was CEO of Veolia Transdev. Jérôme Gallot works as a consultant in corporate governance, competition law and management, and is a board member with several companies.
Key figures: rounds of financing carried out by SP3H since its incorporation:
About SP3H:For more information, visit www.sp3h.fr
[1] identification of a fuel's molecular structure
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