Florida Institute Funds Clean Technology Company Spyglass Technologies, Inc.
Company Provides Real-Time Water Quality Monitoring Worldwide
Gainesville and Boca Raton, FL – September 30, 2013 - The Institute has finalized a funding agreement with Spyglass Technologies, Inc., a St. Petersburg-based company that provides water sensors and software for on-site water quality monitoring. The Institute works with Florida’s research universities and institutions to support new company creation and job growth, and this funding bridges early stage gaps, enabling companies to reach critical milestones and attract additional private investment capital.
Based on technology developed at the University of South Florida and the Monterey Bay Aquarium Research Institute, Spyglass systems have been deployed for monitoring open ocean and coastal environments. Real time data on water quality from Spyglass helps water resource managers effectively manage this increasingly scarce natural resource.
“Funding through the Institute’s Seed Capital Accelerator Program will enable us to complete pilot testing to monitor water quality at hydraulic fracturing sites and accelerate our entry into the Oil & Gas market”, said company CEO Chris Melançon. “With our focus on enabling a global network of water sensors that employ state-of-the-art analytical methods previously restricted to central laboratories, Spyglass is solving one of today’s most difficult societal challenges."
“The products being offered by Spyglass Technologies have applications not only for industrial water quality, but also in other areas where clean water is becoming increasingly scarce, such as decentralized drinking water treatment, energy production, agriculture, and ecosystem restoration”, said Jamie Grooms, Institute CEO. “Their sensor networks and software provide timely and precise data for the worldwide community of water resource managers and researchers, and the Institute is pleased to support their continued growth and success.”
About the Institute
Formed by the Florida Legislature in 2007, the Institute for Commercialization of Public Research is a non-profit organization that works collaboratively with the technology licensing and commercialization offices of Florida’s state universities and private research institutions to leverage a $2B+ research base and form investable companies that create clean jobs in new industries that are driving the global economy. The Institute deploys both company building and company funding programs to promising Florida companies. Twenty-one companies have been funded since the program’s inception and have leveraged the state’s investment by as much as 4 – 5X. http://florida-institute.com.
About Spyglass Technologies, Inc.
Spyglass is a clean technology company focused on revolutionizing water quality monitoring and management. Spyglass’ patented real-time water sensors perform tests directly in a body of water and not in the lab, so water managers can continuously visualize connections among physical, chemical and biological changes in the water. These connections are critical for gaining a clear picture of the overall health of a water system and mitigating potential hazards. Spyglass water information networks can be accessed through standard Web-browsers and are built upon technology developed through decades of scientific research by the Monterey Bay Aquarium Research Institute (MBARI), Lawrence Livermore National Labs and the University of South Florida with support from the National Science Foundation (NSF) and NASA. Spyglass has exclusive world-wide licenses to a broad portfolio of advanced water sensor technology. http://spyglasswater.com