Funding for emissions monitoring business
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 the products of existing competitors, Lysanda’s technology does not measure emissions directly but estimates them by close monitoring of how the engine is running. This improves its accuracy, according to CEO Alexander Willard.
The East of England Development Agency also invested in this first round of funding for Lysanda, along with a number of private individuals.