Harris & Harris Group Notes Cobalt Technologies' New Equity Round of Financing
NEW YORK, Nov. 1, 2012 (GLOBE NEWSWIRE) -- Harris & Harris Group, Inc. (Nasdaq: TINY), an early-stage, active investor in transformative nanotechnology companies, notes the announcement by Cobalt Technologies, Inc., that Bunge Global Innovation LLC, a wholly-owned subsidiary of global agribusiness and food company Bunge Limited ("Bunge"), has joined its Series E Preferred Stock round as a strategic investor.
The investment follows Cobalt's agreement with Bunge and specialty chemicals company Rhodia Poliamida e Especialidades Ltda. ("Rhodia") to operate a pilot plant demonstrating the production of n-butanol utilizing sugarcane bagasse as feedstock at the Laboratório Nacional de Ciência e Tecnologia do Bioetanol facility in Campinas, Brazil. The terms of the agreement also provide for the parties to work together on co-location of a demonstration scale facility and to consider co-location of a commercial-scale biorefinery at a Bunge sugarcane mill. N-butanol is a widely used industrial chemical found in paints, lacquers and other surface coatings. Cobalt's press release may be accessed at http://www.cobalttech.com/news/news-item/cobalt-technologies-adds-bunge-as-strategic-investor/.
All institutional investors from previous rounds participated in the Series E Preferred financing, including Pinnacle Ventures, Malaysian Life Sciences Capital Fund, VantagePoint Capital Partners, The Whittemore Collection, Ltd., Life Sciences Partners (LSP), @Ventures and Harris and Harris Group.
Detailed information about Harris & Harris Group and its holdings can be found on its website at www.HHVC.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 for the fiscal year ended December 31, 2011, as well as subsequent filings, 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, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The references to the websites www.HHVC.com and www.cobalttech.com have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Harris & Harris Group is not responsible for the contents of third party websites.