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Applied Plasmonics Receives Final Installment of $10 Million Financing.


GAINESVILLE, Fla. -- Applied Plasmonics, Inc. has announced that the company has received its final installment of $3.7 million of the original commitment for a $10 million financing. The funds were received from Fidelity Insurance An agreement whereby, for a designated sum of money, one party agrees to guarantee the loyalty and honesty of an agent, officer, or employee of an employer by promising to compensate the employer for losses incurred as a result of the disloyalty or dishonesty of such individuals.  Company and a consortium of individuals.

Gary Hatch Hatch may refer to: Actions and objects
  • Hatching, also called "cross-hatching", an artistic technique used to create tonal or shading effects using closely spaced parallel lines. Also it is used to create curvature and shape to drawn objects.
, Funds Manager for Fidelity, commented, "When we invested in Applied Plasmonics five and half years ago, Dr. Gorrell's concept for a new light source seemed fantastic. Five years of hard work has proved the concept and put the company on the path to full commercialization."

According to according to
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1. As stated or indicated by; on the authority of: according to historians.

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 company CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  Dr. Jonathan Gorrell, proceeds of the financing will be used to expand operations and fund new developments.

About Applied Plasmonics

Applied Plasmonics, Inc., based in Gainesville, Florida Gainesville is the largest city and county seat of Alachua County, Florida.GR6 Gainesville is home to the University of Florida, the largest university of the State University System of Florida and the third-largest university in the United States. , is a research and development company dedicated to expanding the use of new physics to produce products that improve the quality of life through reductions in energy usage, increases in computer speed, and the enablement of completely new products based on the company's technology. More information is available at http://www.appliedplasmonics.com.
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Publication:Business Wire
Date:Jan 16, 2007
Words:172
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