HyRadix Inc. has completed a new round of private capital financing. Koch Genesis Company LLC, of Wichita, Kan., led the financing round, which also included participation from Caisse de dépôt et placement du Québec and SAM Sustainable Asset Management AG, of Zurich, Switzerland. Des Plaines, IL (PRWEB) May 12, 2005 -- “We are pleased to welcome both Koch Genesis and SAM as new investors and are grateful for the continued support of Caisse de dépôt,” said Robert L. Gray, Jr., president and chief executive officer of HyRadix. “We believe in HyRadix’s entrepreneurial team and exciting technologies,” said Tim Cesarek, president of Koch Genesis. “The company is focused on addressing today’s challenges, and it has the technology and experience to be a key player in this growing hydrogen industry.” “With this round of financing, HyRadix is fully funded to implement its planned business activities,” Gray said. “We can now focus our efforts on commercializing our AptusTM, AdéoTM, and AgilonTM hydrogen generation products. HyRadix will also continue to pursue strategic relationships that add value to the company. There are a number of excellent opportunities which can expand our business further and HyRadix will continue to identify and evaluate these relationships.” HyRadix has also completed a full year of operation for its Adéo hydrogen fuel generator located at SunLine Transit in Palm Desert, Calif. SunLine Transit has relied exclusively on HyRadix’s Adéo reformer for its hydrogen supply during that period. HyRadix is also commercializing its innovative reforming technology in industrial applications with the Aptus™ on-site hydrogen generator. HyRadix, based in Des Plaines, Ill., is dedicated to the development and global commercialization of hydrogen generation technology for hydrogen vehicle refueling, industrial applications and for fuel cells. Using an innovative combination of technology and equipment, HyRadix’s hydrogen generating appliances produce hydrogen from the common infrastructure fuels, natural gas and LPG. For more information, please visit www.hyradix.com. Koch Genesis Company, LLC, a subsidiary of Koch Industries, LLC, invests in early-stage companies with substantial, revolutionary ideas. Koch Genesis looks for disruptive innovations across a broad spectrum of business areas in which Koch companies have existing capabilities such as energy, petrochemicals, specialty chemicals and specialty materials. Koch Industries owns a diverse group of companies engaged in trading, operations and investments. These companies have interests in about 50 countries and employ about 30,000 worldwide. SAM Sustainability Private Equity LP and SAM Private Equity Energy LP are managed by SAM Equity Partners Ltd. – a specialist in venture investments in the sustainability area. SAM Equity Partners Ltd. is a wholly owned subsidiary of SAM Sustainable Asset Management AG, an independent asset management company based in Zurich, Switzerland. SAM Sustainable Asset Management AG is the manager of the Energy Technology portfolio of Caisse de dépôt et placement du Québec, an investor in Hyradix.
|
