Press Release
Company Contacts:
Gerard R. Weimann
President/CEO
Five Star Technologies
E-mail: gweimann@fivestartech.com
Marilyn A. Eisele
CFO
Five Star Technologies
E-mail: meisele@fivestartech.com
November 30 2006
Five Star Technologies Announces $7.1 Million
in New Venture Funding
Cleveland, Ohio.November 30, 2006. Five Star Technologies said today
that it has closed an investment round of $7.1 million dollars led
by Morgenthaler Ventures. Other investors include CTTV Investments
(ChevronTexaco), Early Stage Partners, Industrial Technology Ventures,
and Reservoir Venture Partners.
Five Star Technologies is a supplier of high-performance inks and
dispersions for use in electronics packaging and assembly operations.
Using its patented Particle Management Technology, Five Star creates
precision products that fill a missing link in the assembly of high-performance
electronic components. Five Star dispersions of conductive, sub-micron
and nanoscale particles offer unparalleled stability and uniformity
that helps customers significantly improve electrical and thermal
performance. Citing this capability, Lux Research recently described
Five Star as having the "top commercial viability" of
136 nanotechnology startups worldwide.,
Gerry Weimann, president and CEO of Five Star, said the Company
plans to use the funds to continue development and commercialization
of materials. "Based on the reaction of current and potential
customers at recent industry shows, we believe Five Star can add
immediate value to existing electronics production lines, as well
as help make possible the next generation of high-volume printable
electronics that will be found in displays, RFID tags, and other
applications."
According to Greg Blonder, a member of the Five Star board of directors
and a general partner at Morgenthaler Ventures, "Five Star
Technologies represents one of those rare technologies that, after
years of incremental development, seem to come out of nowhere to
transform other industries. We are delighted with the commercial
progress the Company is making."
Morgenthaler, CTTV Investments, Early Stage Partners, and Industrial
Technology Ventures invested in the company in previous financings.
In this round, they are joined by Reservoir Venture Partners in Columbus,
Ohio. Curtis Crocker, managing partner of Reservoir stated, "Reservoir
chose to invest in Five Star because of its deeply experienced management
team and the Company's unique technology. We expect this funding
to accelerate Five Star's growth in the electronics market
by supporting its customers and producing dramatic performance improvements
of conventional materials. "
About Five Star Technologies
Five Star Technologies is a supplier of high-performance powders and dispersions
for use in semiconductor and microelectronic packaging, display and ceramic
component applications. Using its patented Particle Management Technology,
Five Star creates precision dispersions of a wide range of materials (metals,
oxides, nitrides, carbon fibers, etc.) in various organic media. Our products
exhibit unparalleled rheological stability and exceptional particle size
control, enabling our customers to produce materials with next-generation
performance profiles.
Back to News
|
