Selective Micro Technologies Raises $3.5 Million Private Equity Financing
Marubeni America Corp. Leads Investment Round.
BEVERLY, MASS (PRWEB) May 17, 2006 – Selective Micro Technologies, manufacturer of EPA-registered, point-of-use chlorine dioxide products, announced today that the company has raised $3.5 million in its sixth round of financing. Marubeni America Corp. led the investment round with a $1 million investment.
Funds will be used to expand marketing and sales functions within its existing target market segments – Food Processing, High Purity Water, Horticulture, Clinical Analyzer, and Pharma Manufacturing.
Selective Micro President, John Warner, stated, “Customers are experiencing strong results in every application we’ve targeted, and the value added exceeds what they’ve experienced with other biocides. With such customer satisfaction, we are delighted that investors agree that expanding our marketing and sales capabilities is the right decision to build long-term growth.”
Warner added, “Marubeni’s international presence and its expertise in many of the applications we now serve add tremendous value to Selective Micro. We look forward to working with Marubeni as additional uses for Selective Micro’s chlorine dioxide products gain regulatory approval in the US and internationally.”
Regarding its investment in Selective Micro, Kentaro Kuroiwa, Senior Director, Investment Business Unit, Marubeni America Corp. stated, “Strong early adopter retention is certainly an encouraging sign for Selective Micro. Initial sales results will make investments in sales and marketing activities appropriate. We look forward to Selective Micro achieving deeper market penetration and future expansion into additional applications.”
ABOUT SELECTIVE MICRO TECHNOLOGIES
Formed in 1999, Selective Micro Technologies is a private company based in Beverly, Massachusetts. Combining sophisticated science with innovative product design, Selective Micro has invented a proprietary delivery system that controls the rate and efficiency of gas-producing reactions. The competitive advantage of Selective Micro’s products is their ability to generate specific concentrations of greater than 99% pure chlorine dioxide at neutral pH for point-of-use operators, using only tap water, without capital equipment. The Company holds two US patents, and has several other patent applications pending in the US and abroad. Further information is available at www.selectivemicro.com or by calling 978-927-6610 X20.
Selective Micro and logos are registered trademarks of Selective Micro Technologies, LLC. Selectrocide™ is a trademark of Selective Micro Technologies, LLC. © 2006 Selective Micro Technologies. All Rights Reserved.
Contact:
John Fitzsimmons
781-223-5833
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