All Press Releases for 02/07/2007


Maxion Technologies Receives $2.5 Million In Series A Financing From Chart Venture Partners



Maxion Technologies, Inc. manufactures high performance, mid-infrared semiconductor lasers.

FOR IMMEDIATE RELEASE
HYATTSVILLE, MD / PR FREE / Feb 07 2007 --
The company's products, based on the interband cascade (IC) and quantum cascade (QC) laser design, support customers' applications with previously unavailable levels of performance at reduced cost. Maxion's IC and QC lasers enable the development of a new generation of products in a wide variety of chemical sensing, free-space optical communication, and infrared countermeasure markets. Maxion, founded in April, 2000 by a team of scientists and engineers previously employed at the Army Research Laboratory in Adelphi, Maryland, received seed funding from ECentury Capital Partners and the Maryland Venture Fund and today announced closure on a $2,500,000 Series A round of financing with Chart Venture Partners.

"Maxion provides scientific and technical leadership for a disruptive laser technology, which efficiently replaces many earlier optical approaches to chemical spectroscopy and enables a broad class of new, valuable applications," says Matthew McCooe, Chart Venture Partner's managing partner. "QC and IC lasers empower a value chain that bridges across the dual use requirements of our fund, and we look forward to supporting continued development and acceptance of these devices for our core partners."

Dr. John Bruno, a founder of Maxion and its president adds: "Maxion's QC lasers provide customers - for the first time - with efficient, reliable, cost-effective semiconductor lasers that emit in the mid-infrared spectral region where molecules of significant commercial interest have their strongest optical absorption fingerprints. Most commercially available semiconductor lasers operate in the near infrared spectral region, and consequently, cannot support the requirements for sensitive chemical sensing products. Maxion's lasers comprise a platform technology that will underpin the development of a wide array of new, portable, sensitive chemical sensing products deployed in multiple applications in several different markets. This newly developed laser technology will lead to a paradigm shift in the manner and extent of chemical sensor deployments."

About Maxion Technologies ('http://www.maxion.com')

Maxion Technologies, Inc. is a world leader in the development and commercialization of mid infrared (3-12 microns) semiconductor lasers. Maxion is the only company in the world selling both interband cascade (IC) and quantum cascade (QC) lasers to business and government customers. Its laser products are being used by customers developing product solutions in the areas of homeland security, military communications, infrared countermeasures, chemical warfare agent detection, explosives detection, medical diagnostics, industrial process controls, remote gas leak detection, pollution monitoring, and real-time combustion controls.

About Chart Venture Partners ('http://www.chartventure.com')

Chart Venture Partners is a venture fund that focuses on the homeland defense and security sectors with dual use, commercial opportunities, and it has an exclusive strategic partner agreement with InSitech, Inc., the sole partnership intermediary for the U.S. Army's Picatinny/Armament Research, Development and Engineering Center.


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