Foley Hoag Client Advanced Electron Beams Closes Series C Financing

October 5, 2010

Lawyers in Foley Hoag’s Business Department congratulate Advanced Electron Beams, Inc., a client of the firm, for recently closing a $14.2 million Series C financing. The round was led by a new investor, Flagship Ventures, and current investors, including Atlas Venture, General Catalyst, General Electric Co. and RockPort.

Advanced Electron Beams, based in Wilmington, Massachusetts, enables the green factory of the future with its energy efficient, cost-saving, environmentally sustainable technology. AEB replaces traditional thermal and chemical production processes with its compact electron beam emitters that harness electrons to enable cleaner, less expensive and more efficient production. AEB’s emitters are used in common processes such as sterilization, curing, polymer treatment and pollution abatement across industries including pharmaceutical and medical device, food and beverage, printing and packaging, industrial coatings and plastics manufacturing.

Foley Hoag offers venture capital and emerging company clients highly experienced, issue-focused counsel, integrated with the firm’s full-service practice. Each year the group represents venture capital investor clients in a large number of financing transactions, from small seed-rounds to much larger later-stage investments.  For the past three years the firm has been a sponsor of the Angel Capital Association’s Annual Summit and the firm is a National Partner of the organization.

The transaction was handled by David Broadwin and associates Amanda Vendig, Erin Klein and Kanasha Herbert.

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