August 15, 2008
Stuart Mill Venture Partners Closes Second Tranche for Environmental Operating Solutions, Inc.
Stuart Mill Venture Partners, L.P. (SMVP) announced today the closing of the final tranche of an institutional round of financing for Environmental Operating Solutions, Inc. (EOS). The Wolverine Venture Fund also participated in the financing. EOS is an environmental technology company that develops and markets green chemicals specifically engineered for the de-nitrification of wastewater, helping plant operators to meet increasingly stringent nitrogen discharge limits. Since completing the initial tranche of financing in March 2008, the company has added new manufacturing facilities in Portland, Oregon and Greenville, South Carolina to complement its existing facilities in Boston, Massachusetts and Baltimore, Maryland. The company has also expanded its customer base from 185 to 220 wastewater treatment facilities. Investment proceeds will be used to expand sales and marketing activities, broaden the company’s technical capabilities and support research and new product development.
For more information contact Stuart Mill Venture Partners from this site or see www.eosenvironmental.com.
August 6, 2008
Stuart Mill Venture Partners Leads Series B Investment in Marrone Organic Innovations, Inc.
Stuart Mill Venture Partners, L.P. today announced the initial closing of a Series B investment in Marrone Organic Innovations, Inc. (MOI), a Davis, California provider of environmentally responsible products that fill unmet needs for weed, plant disease and pest management. Stuart Mill Venture Partners managing director Larry Hough also joins the MOI board of directors.
The Series B round raises $10-million and includes co-investor CGI Opportunity Fund II (Newport Beach, CA). Existing investors participated significantly, including One Earth Capital, Saffron Hill Ventures, Clean Pacific Ventures, Wavepoint Ventures and prominent angel investors in the Davis area.
“This investment shows our recognition of MOI’s standing at the forefront of agriculture and the crop protection industry. Marrone has assembled a top notch management and scientific team and developed an extensive and exciting product pipeline,” said Hough. “MOI’s discovery is unique in the industry and provides both short and long term opportunities to fill unmet market needs.”
The financing enables MOI to fund the development and commercialization of its pipeline of more than six natural pest management products. While building the commercial side of the company, MOI will continue its discovery of natural products for controlling weeds, plant parasitic nematodes and insects.
“We are pleased that both our existing and new investors recognize the progress MOI has made in the discovery and development of new products since its incorporation a little more than two years ago. Larry Hough will bring invaluable operational experience to our board as we continue our progress to becoming the industry’s innovation leader,” said Dr. Pam Marrone, MOI’s Founder and CEO.
For more information contact Stuart Mill Venture Partners from this site or see www.marroneorganics.com.
May 28, 2008
Stuart Mill Venture Partners Leads Series C Investment in Appistry, Inc.
Stuart Mill Venture Partners, L.P. today announced the closing of the first tranche of a Series C investment in Appistry, Inc., a St. Louis, Missouri provider of a highly scalable and reliable grid-based application software platform. Stuart Mill Venture Partners managing director Larry Hough also joins the Appistry board of directors.
Proceeds from this round will be used to finance an expansion of sales, marketing and product development in support of the company’s leading grid-based application platform product, Appistry Enterprise Application Fabric (EAF). Appistry EAF dramatically simplifies the development, deployment and management of highly scalable and reliable software applications for extreme transaction processing (XTP), software-as-a-service (SaaS), cloud computing, and other data and CPU-intensive applications while substantially reducing data center energy consumption.
“This financing allows us to capitalize on the success of our recently announced Open Distribution Initiative and the tremendous response to our new Community Edition product, which is available to any developer or architect for free download,” said Kevin Haar, Appistry chief executive officer. “Moreover, the deep experience Larry Hough brings to our board in the financial services and transportation sectors will be invaluable as we continue to grow our business.”
“A challenge I’ve seen repeatedly in my career is the difficulty of creating highly-scalable software applications for processing large volumes of information or serving Internet-scale user communities,” said Hough. “Appistry’s products solve this increasingly pervasive problem, enabling enterprises to more easily build and manage large-scale, mission-critical software applications. The company has demonstrated remarkable vision and execution to date, and we’re excited to help it achieve its next level of growth.”
For more information contact Stuart Mill Venture Partners from this site or see www.appistry.com.
March 18, 2008
Stuart Mill Venture Partners Leads $2.5-million Series C Investment in Environmental Operating Solutions, Inc.
Stuart Mill Venture Partners, L.P. today announced the closing of the first tranche of a $2.5-million Series C round in support of Environmental Operating Solutions, Inc. (EOS), an environmental technology company that develops and markets green products specifically engineered for water purification. EOS is located in Bourne, Massachusetts and has manufacturing and distribution facilities in Boston and Baltimore.
The company will use the initial investment proceeds to expand the manufacturing and distribution capabilities for its proprietary line of liquid carbon products that remove nitrogen from wastewater. The second tranche, expected to close within 90 days, will allow EOS to broaden its denitrification technical capabilities to support research and product development.
“In an effort to meet regulatory requirements, many methanol-based wastewater treatment plants are challenged with ensuring safety while controlling operational costs,” said Larry Hough, general partner of Stuart Mill Venture Partners. “EOS has a proprietary, environmentally sound carbon source product set that allows treatment plants to avoid costly site upgrades and ensure the safety of personnel. This is exactly the type of firm that meets the cleantech profile of our fund, and we are pleased to be able to help EOS expand its operations.”
“The Chesapeake Bay and coastal areas from Long Island Sound to Florida are strongly focused on nitrogen removal by local wastewater treatment facilities”, added Eric Stoermer, CEO and President of EOS. “With the investment from the Stuart Mill Venture Partners fund, we will expand our network that supplies our safe, green nitrogen removal products not only in these areas, but at sites nationally and worldwide.”
For more information contact Stuart Mill Venture Partners from this site or see www.eosenvironmental.com.
