EnerTech Capital Partners Announces Investment Into VerticalNet Inc.WAYNE Wayne, city (1990 pop. 19,899), Wayne co., SE Mich., a suburb of Detroit, on the Lower Rouge River; inc. as a village 1869, and with surrounding areas as a city 1960. It has automobile and aircraft industries and other varied manufactures. , Pa.--(BUSINESS WIRE)--July 7, 1998--EnerTech is pleased to announce that the partnership has made an equity investment of $2,000,000 into VerticalNet (Verticalnet Inc., Malvern, PA, www.verticalnet.com) A company that was an early pioneer in the development and operation of business-to-business Web portals for scientific, industrial and manufacturing industries. Inc. located in Horsham, Pa. Formed in September of 1996, VerticalNet is a media company focused on the business-to-business, Internet-based market. VerticalNet develops "trade communities" within narrowly focused business niches such as power, water pollution and chemical processing. The verticals provide community forums where professionals exchange information, discuss and learn about the latest industry and product trends, and foster a focused environment for buyers and sellers to communicate and engage in commerce. The Company has more than 15 verticals and over 600 "store fronts" for its client companies. VerticalNet's communities have the power to unite buyers and sellers from around the world because the web sites cater to individuals with similar professional interests. The trade communities provide a unique combination of trade services: content, community and commerce. Content includes product information, directories, classifieds, job listings, buyer's guides, editorials and news. David F. Lincoln Lincoln, city and district, England Lincoln, city (1991 pop. 79,980) and district, Lincolnshire, E England, in the Parts of Kesteven, on the Witham River. , managing director of EnerTech, said: "The Internet-based business-to-business market is growing at an incredible pace. VerticalNet is the clear leader in their selected niches. We believe that their business model allows companies and professionals to focus on their discrete interests and to effectively build e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. relationships. "In the dynamic and uncertain utility marketplace, there is an increasing need for focused access to technology, products and services specific to their engineering needs. VerticalNet understands this need and their inter-active communities provide cutting-edge resources and information and the forum for valuable dialogue and commerce." EnerTech Capital Partners was formed in August 1996 to invest in service and technology companies related to utilities and the broader energy and communications marketplace. EnerTech is a $50,000,000 partnership which is associated with Safeguard Scientifics (NYSE NYSE See: New York Stock Exchange :SFE See Sydney Futures Exchange. ). For more information on VerticalNet, please contact Mark Walsh
Mark Walsh is an entrepreneur, venture capitalist, and political activist. , president and 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. 215/328-6100 or visit www.verticalnet.com. For information on EnerTech Capital, please contact David Lincoln or Scott Ungerer, 610/254-4141 or visit our web page at www.enertechcapital.com.
CONTACT: VerticalNet
Mark Walsh, president and CEO, 215/328-6100
www.verticalnet.com
or
EnerTech Capital
David Lincoln or Scott Ungerer, 610/254-4141
www.enertechcapital.com.
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