Picarro continues to attract interest in its technology for detecting and measuring a range of greenhouse gas emissions.
The Santa Clara, Calif.-based company has emerged as part of a consortium keeping tabs on the emissions impact of the Summer Olympics in London. Meawhile, it has added another $7 million in venture capital from Focus Ventures, DAG Ventures, NTT Electronics nd Mingxin China. It previously raised $48 million.
"By focusing on building out a powerful yet simple analytical platform for a broad array of applications for carbon cycle and water cycle science, Picarro has emerged as a profitable and growing scientific instrument company in just a few years," said Michael Woelk, the company's CEO. "We plan to continue to expand into industrial compliance markets by providing fully integrated solutions for industry, regulators and other market stakeholders to validate claims, maintain compliance and ensure public safety."
Picarro's sensors are sensitive to a range of substances that are classified as greenhouse gas emissions. PG&E is using its technology to detect natural gas leaks out in the field, and the sensors can even analyze the source of foods, which could provide powerful validation for companies seeking to validate ingredients or avoid import duties.
Most recently, Picarro was selected as part of a consortium assembled by EADS Astrium to measure greenhouse gas emissions in London during the 2012 Olympic Games. Astrium has created a new Emissions Measurement Service that can measure citywide emissions in real time. The service was previously used to keep tabs on emissions during the Wolrd Economic Forum in Davos where it "revealed the wide discrepancies that can exist between emissions assumptions and actual emissions measurements," Woelk said.
The project will analyze carbon dioxide, carbon monoxide and methane concentrations in the city using ground measurements from Picarro's cavity ring-down spectroscopy technology. Four sensors were stationed around the city, while mobile instruments on a city busy and on an airplane will measure levels at road level and higher altitudes.