Foley Hoag Congratulates Advanced Electron Beams for Next Round of Financing
Boston, MA - October 1, 2008
Foley Hoag LLP congratulates our client Advanced Electron Beams, a Wilmington, Massachusetts company which enables the green factory of the future for today by making sustainability possible and profitable for manufacturers, for closing its venture capital investment from GE Energy Financial Services, a unit of GE (NYSE: GE).
The company, whose technology uses a stream of electrons to initiate chemical reactions or break chemical bonds more efficiently than existing thermal and chemical approaches, received the recent funding of $6M from GE Energy Financial Services and Agman Partners. The technology is already in use at GE’s Global Research Center and more than 40 other companies. GE Capital’s Managing Director, Kevin Skillern noted, “ . . . The company has the right recipe for success: a game-changing technology breakthrough, a great customer value proposition, great traction with large, blue chip customers and a strong management team experienced in building large, successful technology companies.”
The Foley Hoag team on the transaction includes David Broadwin and Amanda Vendig.
For more information, including a multimedia news release, please see AEB’s press release.
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CATEGORIES
Energy Technology and Renewables, Venture Capital & Emerging Companies, Corporate Finance and Securities, Business