College Park, Maryland, May 28, 2009 — Pixelligent Technologies, an emerging leader in developing nanotechnology applications, announced today it has closed on $2 million in new equity financing. Pixelligent is developing ground breaking applications in optical lithography and nanocomposites for the semiconductor and microelectronics markets.
“To raise capital for a development stage company in the current economic environment is a true testament to the tremendous potential and importance of our technology,” said Craig Bandes, CEO of Pixelligent Technologies.
The investors include sophisticated local angel investors, a well known west coast-based tech entrepreneur, and the company’s management team. The proceeds were used for costs related to completing the Company’s reorganization and will also be used to help fund current development initiatives and government programs going forward.
“We were one of the first to recognize the potential of using nanotechnology in critical optical lithography applications for the semiconductor industry and we are now expanding this technology into other related fields. This funding in combination with the support we have received from federal grant programs has enabled us to support our world class nanotechnology team and move our technology closer to the market,” said Greg Cooper, PhD, President of Pixelligent.
About Pixelligent Technologies, LLC (www.pixelligent.com)
Pixelligent Technologies is a leading supplier of nanocrystal additives for the electronics, industrial and military markets. After over a decade of research development, Pixelligent is the first company to supply commercially available quantities of the highest quality Zirconium and Hafnium nanocrystals for numerous mission critical applications.