What is LUX Assure?
LUX Assure, established in 2001 in Edinburgh, Scotland, specializes in developing and delivering highly sensitive and user-friendly chemical monitoring technologies for both offshore and onshore applications. The company's proprietary products focus on monitoring scale, corrosion, and hydrate inhibitors within water and hydrocarbon streams. LUX Assure's business model emphasizes collaborative development with operators and service companies, transforming early-stage concepts into commercially viable products through proof-of-concept demonstrations, laboratory testing, and strategic partnerships. Their expertise, rooted in life sciences, leverages light-based methods for rapid, on-site product development, aiming to reduce operational costs for industry players. The company has successfully matured several projects from conception to field trials, supported by a strong technology portfolio and pending patents.
How much funding has LUX Assure raised?
LUX Assure has raised a total of $3.6M across 1 funding round:
Unspecified
$3.6M
Unspecified (2016): $3.6M with participation from Archangel Investors, ConocoPhillips Company, and Scottish Investment Bank
Key Investors in LUX Assure
Archangel Investors
Archangel Investors is an investment entity that has participated in LUX Assure's funding rounds. Further details on their specific investment focus are not publicly available.
ConocoPhillips Company
ConocoPhillips Company is a major multinational energy corporation specializing in oil and gas exploration and production. Their investment in LUX Assure suggests a strategic interest in advanced monitoring technologies that can enhance operational efficiency and safety within the energy sector.
Scottish Investment Bank
The Scottish Investment Bank, part of Scottish Enterprise, is a national economic development agency. Their backing of LUX Assure indicates support for innovative Scottish companies contributing to key industrial sectors like energy technology.
What's next for LUX Assure?
The recent major strategic investment signals a new phase of growth and development for LUX Assure. This capital infusion is expected to accelerate the commercialization of its advanced chemical monitoring technologies and potentially expand its market reach within the global oil and gas industry. The company's focus on innovation and collaborative development positions it well to address critical industry challenges, suggesting future endeavors may involve further technological advancements, broader application of its monitoring solutions, and strengthened partnerships to drive operational efficiencies for its clients.
See full LUX Assure company page
