Optisense Network LLC(TM) Selected as a Finalist for a 3rd 2013 Tech Titans Award for Investment Catalyst
Aug 01, 2013 (PRWeb.com via COMTEX) --
Optisense Network(TM) LLC (http://www.optisense.net), a leading global provider of optical sensor-based solutions for automating electrical distribution networks to enable the Smart Grid, announced today that OptiSense has been selected as one of four finalists for the 2013 Tech Titans "Investment Catalyst" award by the Metroplex Technology Business Council (MTBC).
Tech Titans are recognized as outstanding technology companies and individuals in the North Texas area who have made significant contributions to their industries during the past year. The winner will be announced August 23, 2013.
"It's and honor to be nominated for a third Tech Titans award," says Stephen Prince, President and CEO of OptiSense Network. "We're very excited that OptiSense has been named a finalist in three Tech Titans award categories: Emerging Company CEO, Emerging Company Innovation and Investment Catalyst.
The Tech Titans Investment Catalyst award recognizes an organization for completing a significant technology-related investment transaction that will impact and deliver significant long-term economic prosperity for the DFW Metroplex.
The source of the investment capital may be from either the public sector, private capital, and/or a public-private partnership.
The investment may be a strategic investment, debt, equity and/or risk capital investment, buyout, or economic stimulus investment.
The investment may be in a new research lab, foundry, plant, technology incubator, and/or technology innovation resource center.
Nominees must demonstrate significant job creation, early-stage technology investment, fund creation, harvesting of investments with significant financial returns, investment in innovation or an investment that increases capital flow within the region.
What the nominee has done to assure the investment provides a sustainable competitive advantage for the North Texas region.
"When I joined OptiSense as CEO in 2011, the company was an early-stage start up with 8 employees, performing research and development in a remote town with a vision for a Medium Voltage sensor solution, and entirely focused upon one prospect," says Prince.
"In 30 months we've transformed the company into the leading disruptive sensor technology and solution for Medium Voltage grids. We did this by raising over $16M in additional funding, filing 6 new patents, commercializing the technology into 12 unique product categories, developing a state-of-the-art manufacturing facility in Plano, Texas - including robotics specifically developed by the company for scale production - and signing 25 utility customers across 6 countries."
Founded in 2001, OptiSense Network was a winner of $1.5 M investment by the 2007 Texas Emerging Technology Fund. OptiSense's success is now generating strong investment interest from US and International investors in Europe and China - due to the size of the global Distribution Automation market opportunity and the disruptive nature of OptiSense's patented technology.
Headquartered in Plano, Texas (DFW area), Optisense's 15KV, 25KV, 35KV, and 46KV sensor solutions are used by distribution utilities and operators in North America, EMEA, Asia, and Latin America.
OptiSense Network, LLC(TM) (http://www.optisense.net) is a leading global provider of optical sensor-based solutions for automating electrical distribution networks to enable a Smart Grid. Its proprietary optical technology platform permits high-accuracy measurements of current and voltage-related data (including high frequency components) that enable network operators to improve distribution system reliability, efficiency, and control. Headquartered in Plano, Texas (DFW), Optisense's 15KV, 25KV, 35KV, and 46KV sensor solutions are used by distribution utilities and operators in North America, EMEA, Asia, and Latin America seeking intelligence beyond.
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