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| NEWS/EVENTS : Press Releases |
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| Hercules Technology Provides $4
Million of Venture Debt to Shocking
Technologies, Inc., a Developer of Voltage
Switchable Dielectric Materials |
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Palo Alto,
Calif., Jan. 10, 2008 – Hercules
Technology Growth Capital, Inc. (NASDAQ: HTGC),
the premier specialty finance company providing
venture debt and equity to venture capital and
private equity backed technology and life
science companies at all stages of development,
today announced that it provided $4 million in
debt financing to Shocking Technologies, Inc.,
on December 20, 2007. The privately-held company
is developing various applications for its
patented voltage switchable dielectric material
technology.
Whereas discrete devices,
such as surge protectors, have commonly
protected electronic and mobile devices from
electrostatic discharge (ESD), Shocking
Technologies has developed a polymer voltage
switch dielectric material. The polymer, less
than 25 microns thick, is embedded into Printed
Circuit Boards (PCBs) and semiconductor chip
packages to protect the device from ESD
damage.
“Shocking Technologies has
created a revolutionary technology that offers
several competitive advantages over current
discrete devices used, including increased
reliability with reduced cost, size and time to
market,” said Brandt Roberts, of Hercules. “In
addition, Shocking Technologies made an
attractive funding candidate due to the
significant market opportunity. Nearly every
cell phone, computer and electronic device could
utilize Shocking Technologies’ polymer
material.”
Shocking Technologies is an
early stage company based in San Jose, Calif.
The company’s CEO, Lex Kosowsky, has more than
25 years of experience in the microelectronics
industry.
“We have developed this unique
technology in order to address unmet needs and
market demands in the semiconductor and
electronics spaces,” said Kosowsky. “Hercules’
debt financing will be used for continued
development of the polymer technology itself as
well as moving forward with its deployment for
various applications, including ESD protection
of semiconductor chips, PCBs, Led’s, displays
and other electronic products.”
Shocking
Technologies is backed by several leading
venture capital firms, including Arch Venture
Partners and ATA Ventures. |
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| About
Hercules Technology Growth Capital,
Inc. |
Hercules Technology
Growth Capital, Inc. is a NASDAQ traded
specialty finance company providing debt and
equity growth capital to technology and life
science companies at all stages of development.
Founded in December 2003, the company primarily
finances privately held companies backed by
leading venture capital and private equity
firms. Hercules invests in a broad range of
ventures active in technology and life science
industries and offers a full suite of growth
capital products up and down the capital
structure. The company is headquartered in Palo
Alto, Calif. and has additional offices in the
Boston, Boulder, Los Angeles and Chicago areas.
Providing capital to publicly-traded or
privately-held companies backed by leading
venture capital and private equity firms
involves a high degree of credit risk and may
result in potential losses of capital. For more
information, please visit www.htgc.com.
Companies
interested in learning more about financing
opportunities should contact info@htgc.com,
or call 650.289.3060. |
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| About
Shocking Technologies, Inc. |
| Shocking
Technologies, founded in 2006, is based in San
Jose, California, and is a leader in the area of
voltage switchable dielectrics for diverse
applications. Shocking is venture capital backed
by ARCH Venture Partners and ATA Ventures. For
more information, please visit www.shockingtech.com. |
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| Forward-Looking Statements |
| The statements
contained in this release that are not purely
historical are forward-looking statements. These
forward-looking statements are not guarantees of
future performance and are subject to
uncertainties and other factors that could cause
actual results to differ materially from those
expressed in the forward-looking statements
including, without limitation, the risks,
uncertainties and other factors we identify from
time to time in our filings with the Securities
and Exchange Commission. Although we believe
that the assumptions on which these
forward-looking statements are reasonable, any
of those assumptions could prove to be
inaccurate and, as a result, the forward-looking
statements based on those assumptions also could
be incorrect. You should not place undue
reliance on these forward-looking statements.
The forward-looking statements contained in this
release are made as of the date hereof, and
Hercules assumes no obligation to update the
forward-looking statements for subsequent
events. |
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