Braemar Energy Ventures Portfolio Company Agrees to Be Acquired by Nippon Shokubai
March 28, 2017
For Immediate Release
Braemar Energy Ventures portfolio company, Sirrus, Inc. has agreed to be acquired by Nippon Shokubai, a leading global producer of acrylic acid and superabsorbents
NEW YORK – March 28, 2017 — Braemar Energy Ventures, a leading venture capital investor in energy technology companies, today announced Nippon Shokubai’s planned acquisition of one of their portfolio companies, Sirrus, Inc., subject to customary closing conditions. Braemar has been a lead investor in Sirrus, the world’s leading developer of electron deficient monomers and derivatives, since 2011.
Braemar first led Sirrus’ $13.6 million Series A-1 round of funding, and later led the Company’s A-2 and B round financing in 2013 and 2015, respectively.
“We immediately recognized Sirrus’ potential to develop breakthrough chemical technology that enhanced efficiency, improved performance, and reduced energy consumption and costs for customers across multiple manufacturing industries,” said William Lese, Managing Partner of Braemar Energy Ventures and Board Member of Sirrus. “Since our initial investment, Sirrus’ has managed to obtain over 25 global patents. This track record of innovation has driven Braemar’s continuous support of the commercialization plan for Sirrus’ novel platform. In addition to developing and patenting state-of-the-art technologies, Sirrus has had a unique ability to focus on development efforts that provide unique customer solutions, including lower solvent, less toxic formulation ingredients, and energy efficiency.”
Since 2002, industry veterans Bill Lese and Neil Suslak at Braemar Energy Ventures have been focused exclusively on making investments in innovative, transformational energy and energy related technology companies that generate competitive solutions which address the most pressing issues the industry is facing.
“Braemar’s breadth of industry exposure paired with their deep bench of experts and knowledge across energy/chemical industry venture backed businesses has provided us with significant industry access and financial support when most needed,” said Jeff Uhrig, CEO of Sirrus. “Sirrus and Braemar are equally passionate about delivering exceptional customer service, reducing energy consumption, and delivering financial returns to investors. By joining forces, we were able to significantly accelerate these efforts.”
About Sirrus, Inc.
Founded in 2009 and formerly known as Bioformix, Sirrus was founded to commercialize efficient, high-performance monomers and derivatives. Sirrus technologies result in the reduction or elimination of energy consumption and improved product performance for advanced manufacturing and assembly industries. For more information, visit www.sirruschemistry.com.
- Mike Powers
- (248) 760-6598
About Braemar Energy Ventures
Founded in 2003, Braemar Energy Ventures is a leading venture capital firm focused on transformative energy-tech and related companies contributing to global sustainability and combating climate change. Using sector expertise and experience, Braemar aims to be an engaged partner with its portfolio companies to best help them navigate the path to significant global impact. For more information, visit braemarenergy.com or follow @BraemarEnergy on Twitter.