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, 2017Braemar 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 Braemar Energy Ventures

Braemar Energy Ventures is a venture capital fund making early- to mid-stage investments in the energy technology sector. The firm's principals have invested in more than 60 companies in the sector and have more than 100 years of combined technical, operational and financial experience in energy and energy-related industries. Braemar partners with exceptional companies and management teams, in both alternative and traditional energy markets, that can contribute to a more profitable and efficient energy landscape through innovation and marketplace expertise. Additional information is available at BraemarEnergy.com or on Twitter at twitter.com/braemarenergy or @BraemarEnergy.

For more information

Alison McIntyre
Prosek Partners
(212) 279-3115 x269
amcintyre@prosek.com