coronavirus watch

Texas company making low-cost ventilation helmets sees growing demand amid COVID-19 pandemic

The device could help alleviate a worldwide shortage of ventilators. Photo courtesy of Sea-Long

A company based in Waxahachie, Texas, is making a promising ventilation helmet for coronavirus cases that has become in demand around the world.

Sea-Long Medical Systems Inc., which has been manufacturing hyperbaric oxygen hoods since 1985, has a spacesuit-like helmet that could help alleviate the worldwide shortage of ventilators needed by patients suffering from COVID-19.

The device consists of a transparent hood with two tubes extending from its base that can be connected to an oxygen supply. It has great potential because it could be used as a stopgap to free up ventilators for patients who are critically ill.

A study published in the Journal of the American Medical Association found that patients who used them required ventilation 18.2 percent of the time, compared to 61.5 percent who wore oxygen masks. Helmet-wearing patients also had a better survival rate.

According to NBC News, Sea-Long is getting thousands of orders every day from hospitals in America and around the world. Doctors in Italy have found it effective in helping some patients with breathing problems.

And the Sea-Long helmet is only $162, compared to the $25,000 to $50,000 cost of a hospital-grade ventilator.

Virgin Galactic, which has been proactive on the manufacture of ventilation devices, has lent financial assistance including buying equipment, but Sea-Long is still shipping a limited number helmets per order. They've received orders from Canada, Mexico, and Europe.

"'Overwhelmed' doesn't scratch the surface," Sea-Long founder Chris Austin told NBC News.

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This article originally ran on CultureMap.

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Building Houston

 
 

Molecule has closed new funding in order to focus on the energy transition. Photo via Getty Images

A Houston startup with a software-as-a-service platform for the energy transition has announced it closed a funding round with participation from a local venture capital.

Molecule closed its $12 million series A, and Houston-based Mercury Fund was among the company's investors. The company has a cloud-based energy trading and risk management solution for the energy industry and supports power, natural gas, crude/refined products, chemicals, agricultural commodities, softs, metals, cryptocurrencies, and more.

"We led the seed round of Molecule upon their formation and are excited to participate in their series A," says Blair Garrou, co-founder and managing director of Mercury, in a news release. "Molecule's success in the ETRM/CTRM industry, especially in relation to electricity and renewables, positions them as the company to beat for the energy transition in the 2020s."

The company will use its new funds to further build out its product as well as introduce offerings to manage renewables credits, according to the release.

"In 2020, we realized that electricity — the growth commodity of the 2020s — represented over half of Molecule's customer base, and we decided to double down," says Sameer Soleja, founder and CEO of Molecule, in the release. "We were also rated the No. 1 SaaS ETRM/CTRM vendor. With this fundraise, we have the fuel to become No. 1 SaaS platform for power and renewables, and then the market leader overall.

"Molecule is ready to power the energy transition," Soleja continues.

Molecule's last round of funding closed in November 2014. The $1.1 million seed round was supported by Mercury Fund and the Houston Angel Network.

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