Applied Plasmonics Receives Final Installment of $10 Million Financing
Gainesville, FL – January 16, 2007 – Applied Plasmonics, Inc. has announced that the company has received its final installment of $3.7 million of the original commitment for a $10 million financing. The funds were received from Fidelity Insurance Company and a consortium of individuals.
Gary Hatch, Funds Manager for Fidelity, commented, "When we invested in Applied Plasmonics five and half years ago, Dr. Gorrell's concept for a new light source seemed fantastic. Five years of hard work has proved the concept and put the company on the path to full commercialization."
According to company CEO Dr. Jonathan Gorrell, proceeds of the financing will be used to expand operations and fund new developments.
About Applied Plasmonics
Applied Plasmonics, Inc based in Gainesville Florida is
a Research and Development company dedicated to expanding
the use of new physics to produce products that improve
the quality of life through reductions in energy usage,
increases in computer speed, and the enablement of
completely new products based on the company’s
technology. More information is available at
http://www.appliedplasmonics.com.
Contacts
David Hoover
Applied Plasmonics, Inc.
352-372-0440
