CAMBRIDGE, Mass., Oct. 8, 2019 /PRNewswire/ -- Today, Sensatek Propulsion, Inc. announces an equity investment of $2M led by Rhapsody Venture Partners of Cambridge, MA, alongside Cloquet Capital Partners, StarterStudio, VentureWell, and others. Sensatek's patented sensors provide a critical breakthrough in gas turbine management.
Gas turbines' efficiency, uptime, and economics depend on running them at optimal capacity. When a turbine blade overheats, the maintenance and downtime costs are immense. Past technology has not allowed for accurate and ongoing monitoring of turbines and requires significant expensive retrofitting. Sensatek resolves these issues elegantly and comprehensively.
Sensatek's compact sensors are applied as a patch or coating on the turbine to provide data continuously and wirelessly without the need for an external power source or batteries. The accurate and live data allows operators to adjust the gas turbine to operate at optimal levels, and to conduct condition-based maintenance only as needed.
As said by Jason Whaley, General Partner at Rhapsody Venture Partners: "Reamonn and his team have built an incredibly compelling solution. Sensatek has already fulfilled their first purchase orders with top OEMs and power producers. We believe the market will adopt this technology as quickly as we can scale up production."
Sensatek's IP was developed at the University of Central Florida and is supported by the National Science Foundation (NSF), StarterStudio, and VentureWell. Leading commercialization efforts is founder and CEO, Reamonn Soto, a U.S. Marine Corps veteran and graduate of Embry-Riddle Aeronautical University.
As said by Reamonn Soto: "Our sensors are the product of herculean work by our team over the last five years. In the past twelve months, we have been blessed to receive buy-in from leading companies in our space. With this investment round, we will be able to deliver our sensors to the market at commercial scale. Rhapsody has already proven to be a high value-add investor, having made introductions to their corporate connections from day one."
Sensatek produces wireless sensors for real-time monitoring of temperature, pressure, and strain in gas turbines. Sensatek's sensors are composed of a polymer-derived, ceramic material that allows for temperature, pressure, and strain data collection of rotating equipment in harsh environments of over 1,200°C. Through accurate data collection, power producers and OEMs can now implement condition-based monitoring and preventative maintenance schedules to avoid costly failures, downtime, and unnecessary repair, and operate turbines closer to operational limits. Learn more at https://www.sensatek.com.
About Rhapsody Venture Partners
Rhapsody Venture Partners is a venture investor in Cambridge, MA that funds early-stage physical science and applied engineering companies. Rhapsody's team works side-by-side with entrepreneurs to engage anchor customers that reduce time-to-commercialization and accelerate growth. Learn more at https://www.rhapsodyvp.com.
SOURCE Rhapsody Venture Partners