Novazone Closes $7 Million in Series B Financing to Fuel Company Growth and Expansion
LIVERMORE, Calif. - Dec. 13, 2006 - Novazone, the leading provider of clean technology solutions for food and water including advanced ozone-based applications for cold storage and disinfection , announced today it has raised $7 million in a Series B financing. The funds will be used for working capital and to develop new products that capitalize on Novazone’s patented clean technology solutions.
New investor Chrysalix Energy led the round with participation from existing investors, Foundation Capital and Grauer Capital. In addition, Greg Sullivan, managing director of Chrysalix Energy, has joined Novazone’s board of directors.
"Chrysalix is excited about Novazone’s potential to transform food and water processing markets with its industry leading, environmentally safe treatment systems,” said Greg Sullivan, managing director of Chrysalix Energy. “We believe there is a strong and growing need for Novazone’s highly effective and energy efficient solutions, and the company is well suited to lead the market.”
“The level of interest from our new and current investors reinforces the momentum we’re seeing in the marketplace for our clean technology solutions,” said David Cope, president and CEO of Novazone, Inc. “Global demand for safe food and water without the use of traditional, harmful chemicals is growing dramatically. The additional capital provides the financial depth and support Novazone will need as we accelerate our sales, marketing and development efforts to align with market growth, and to continue to set the benchmark for innovative, science-based solutions that bring the world fresh, safe food and water.”
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