Thermo Fisher Scientific Acquires Laser-based Gas Detection Company NovaWave Technologies, Inc.
- NovaWave.com February 1st, 2010
- Source: http://www.novawavetech.com/news/thermo-fisher-scientific-acquires-laser-based-gas-detection-company-novawave-technolgies.html
Editor's note: NovaWave Technologies is one of the companies in NYU-Poly's BEST business incubator.
FRANKLIN, Mass. (February 1, 2010) – Thermo Fisher Scientific Inc., the world leader in serving science, announced today that it has acquired NovaWave Technologies, Inc., a developer and manufacturer of advanced chemical sensors for environmental monitoring, industrial and safety applications. NovaWave has 18 employees based in Redwood City, California, and generated annual revenues of $4 million in 2009.
NovaWave has developed an extensive array of laser-based gas measurement systems that use laser technology to enhance sensitivity, specificity, precision and accuracy for multiple applications. The acquisition expands Thermo Fisher’s leadership position in environmental monitoring, process monitoring and isotopic ratio measurements, and provides complementary technology to more accurately measure the presence of critical gases.
“The growing concern regarding climate change and the collective development of regulatory controls present a unique opportunity to showcase our leading Thermo Scientific line of environmental instruments,” said Greg Herrema, president of Thermo Fisher’s Analytical Instruments businesses. “The expansion of our portfolio through NovaWave’s sensors for monitoring greenhouse gases is another great example of how we enable our customers to make the world cleaner.”
In the United States, the Environmental Protection Agency recently mandated that facilities exceeding established greenhouse gas emission standards be required to submit annual reports. This includes utilities, oil and chemical refineries; cement, glass, pulp and paper plants; manufacturers of motor vehicles and engines; and confined animal-feeding operations. The technology acquired from NovaWave will reinforce Thermo Fisher Scientific’s leading position in this rapidly developing regulatory arena.
NovaWave will be integrated into Thermo Fisher's Analytical Technologies Segment and provide enhanced measurement capabilities for environmental instruments, scientific instruments and process instruments.