SAN FRANCISCO - (Business Wire) ATEL Ventures, Inc. is pleased to announce that it has committed to a $1 million capital lease facility with Primet Materials and has separately made a $250,000 equity investment in the company. Both transactions closed on September 12, 2008. The $250,000 equity investment extends the Series B financing the company completed earlier in the year. ATEL Ventures joins Morgan Stanley & Co., Draper Fisher Jurvetson and Cayuga Venture Fund as investors in the company.
“Primet offers a compelling process technology platform for many markets, and we are pleased to work with Primet to satisfy their long-term equipment financing needs,” said Steven Rea, Executive Vice President at ATEL Ventures. “We are also excited to be an investor in the company and are impressed by both the results Primet has already achieved and their tremendous potential.”
”We are delighted to have ATEL Ventures as a financing partner and new investor,” said Lawrence Thomas, President and Chief Executive Officer of Primet. “This capital lease facility and equity investment provides us financial flexibility to expand our business and exploit the many growth opportunities ahead of us.”
About ATEL Ventures
Since its founding in 1977, San Francisco-based ATEL Capital Group has become the largest private and closely-held independent leasing company in the United States, with approximately $2 billion in asset-secured transactions under management. ATEL Capital formed ATEL Ventures, Inc. to provide equipment financing, working capital term loans and equity financing to emerging growth companies in the fields of information technology, life sciences, specialty retail and alternative energy. For information about ATEL Ventures, contact Steven Rea, executive vice president at 415-616-3436, or visit their website at www.atel.com/venture.
About Primet Precision Materials, Inc.
Primet Precision Materials, Inc. is a process technology company with deep expertise in creating, controlling and characterizing particles and materials at the micron and nano scale. Primet engineers and manufactures designer materials to support optimization of device performance in many industries. The company’s proprietary particle engineering process technology, NanoScission™, is a fully robust, scalable industrial process.
ATEL Ventures
Steven Rea, Executive Vice President, 415-616-3436
