Harris & Harris Group Invests in Crystal IS.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Harris & Harris Group, Inc., announced today that it has made a follow-on investment in Crystal IS, Inc., as part of a $10.6 million second round financing. The investor syndicate was led by Lux Capital, with participation by Arch Venture Partners, 3i, Credit Suisse The Credit Suisse Group (SWX:CSGN, NYSE: CS) is a financial services company, headquartered in Zürich, Switzerland. It is the second-largest Swiss bank, behind UBS AG. , Taiwanese Linkmore Ltd. and Harris & Harris Group. Crystal IS is commercializing single-crystal aluminum nitride (AlN) substrates for the cost-effective production of high power, high temperature, and optoelectronic devices such as blue and ultraviolet lasers. Earlier this year, Crystal IS released its low defect 2-inch native AlN substrates. Crystal IS was founded in the Rensselaer Polytechnic Institute Rensselaer Polytechnic Institute, at Troy, N.Y.; coeducational; founded and opened 1824 as Rensselaer School; chartered 1826. It was called Rensselaer Institute from 1837 to 1861. (RPI RPI - Rockwell Protocol Interface ) incubator program. Harris & Harris Group is a publicly traded venture capital company that makes initial investments exclusively in tiny technology, including nanotechnology, microsystems and microelectromechanical systems See MEMS. (MEMS (MicroElectroMechanical Systems) Tiny mechanical devices that are built onto semiconductor chips and are measured in micrometers. In the research labs since the 1980s, MEMS devices began to materialize as commercial products in the mid-1990s. ). The Company's last 30 initial private equity investments have been in tiny technology-enabled companies. The Company has 20,756,345 common shares outstanding. Detailed information about Harris & Harris Group and its holdings can be found on its website at www.TinyTechVC.com. This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company's business, including but not limited to the risks and uncertainties associated with venture capital investing and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, Harris & Harris Group, Inc., undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The reference to the website www.TinyTechVC.com has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release. |
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