FIRM ATTRACTS NEW INVESTORS.Byline: Daily News VALENCIA Valencia, region, Spain Valencia (välān`thēä), autonomous region (1990 pop. 3,902,429) and former kingdom, E Spain, on the Mediterranean. It now comprises the provinces of Alicante, Castellón, and Valencia. - A coalition that backs promising new tech ventures has invested $2.54 million in a Valencia company that manufactures hydrogen sensing devices and plans to expand its management team and increase sales, marketing and product development efforts. Chrysalix Energy Limited Partnership, Pasadena Pasadena (păs'ədē`nə). 1 City (1990 pop. 131,591), Los Angeles co., S Calif., at the base of the San Gabriel Mts.; inc. 1866. Angels, Tech Coast Angels and Dennis Dennis is a male first name derived from the Greco-Roman name Dionysius meaning "servant of Dionysus", the Thracian god of wine, which is ultimately derived from the Greek Dios (Διος, "of Zeus") combined with Nysos or Nysa (Νυσα), where the Reid, founder and chief executive officer of the locally-based H2Scan, supplied the cash infusion, banking on H2Scan in the fast growing market. ``We believe H2Scan has the potential to be a dominant player in the large and growing market for hydrogen-specific sensing devices,'' said Mike Walkinshaw, managing director of Chrysalix Energy Limited Partnership, a venture capital firm focusing on fuel cell and hydrogen technology. ``The uniqueness of H2Scan's technology, capable management team and huge sales potential continue to make the company an attractive investment for us.'' H2Scan's hydrogen-specific sensing systems essentially eliminate false readings by detecting the presence of hydrogen, with or without oxygen, against any background gas. H2Scan's technology works in seconds, even when hydrogen is present in minute concentrations. In conjunction with the financing, Al Schneider Schnei·der , Vreni Born 1964. Swiss alpine skier. She won the overall World Cup in 1989, 1994, and 1995, was a four-time world champion, and earned five Olympic medals. , co-founder and vice chairman of the Pasadena Angels and Schneider, and Ken Pickar, visiting professor of mechanical engineering at the California Institute of Technology California Institute of Technology, at Pasadena, Calif.; originally for men, became coeducational in 1970; founded 1891 as Throop Polytechnic Institute; called Throop College of Technology, 1913–20. , will join the company's board of directors. ``H2Scan's world-class world-class adj. 1. Ranking among the foremost in the world; of an international standard of excellence; of the highest order: a world-class figure skater. 2. technology, Fortune 1000 customers and significant interest from large distribution channel partners are some of the reasons so many angels were interested in investing,'' Schneider said. ``We were happy to co-invest with a venture capital firm with extensive experience in the field and to be able to provide sufficient funds to enable H2Scan to achieve meaningful future milestones.'' Chrysalix offers clients business planning, start-up Start-up The earliest stage of a new business venture. and development advice, early-stage funding to new companies, management assistance, technological knowledge, organized networking with industry players and experience in the management of intellectual property. The Pasadena Angels and Tech Coast Angeles focused on counseling companies in the early stages of their growth and providing early-stage financing to promising new, technology-based ventures in the greater Los Angeles area The Greater Los Angeles Area, or the Southland, is the agglomeration of urbanized area around the city of Los Angeles, California, United States. There are two "official" definitions—the Los Angeles metropolitan area consisting only of the Los Angeles and Orange . |
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