Accelergy Secures Series B Funding From Leading Investors
Investments from Goldman Sachs, Sequoia Capital China and Lux Capital Advance Company's High Throughput Research Initiatives
Palo Alto, CA, December 11, 2006 – Accelergy Corporation, a leading research and development company offering high throughput solutions for accelerated discovery, development and commercialization of advanced catalytic materials, today announced that it has secured its Series B financing from a group of leading global investors. Goldman Sachs is leading the round along with Sequoia Capital China and Lux Capital. Accelergy's existing investors, Nth Power, Technology Partners, Mobius VC and Advent International also participated in the funding.
"Accelergy is paving the way towards faster discovery and commercialization of advanced catalytic materials and processes with our proprietary high throughput solutions," said William Chen, founder and CEO of Accelergy. "We are pleased to have the support of these leading investors as we continue to deliver on our mission of bringing innovative research capabilities to all stages of the advanced materials creation process.”
Accelergy works with global businesses in the pursuit of more efficient and cost effective technologies for the production of environmentally attractive fuels and petrochemicals and the economic development of alternative energy resources. With locations in both the United States and China, Accelergy is positioned to work with the largest global and regional energy companies. The funding will be used to facilitate the company's high throughput research initiatives, expand its technology platforms, and support further intellectual property development and executive recruitment.
“The company's strong leadership team, experience, and proprietary high throughput capabilities are leading factors in our investment decision,” said Raheel Zia, vice president at Goldman Sachs and member of Accelergy's Board of Directors. “Accelergy is helping major global companies extend their research and development capabilities and shorten time to market throughout the entire development and commercialization process. We look forward to working with Accelergy to accelerate their growth.”
ABOUT ACCELERGY CORPORATION
Accelergy Corporation is a research and development company collaborating with global strategic partners to accelerate the discovery, development, and commercialization of advanced materials utilized in the energy markets. Accelergy minimizes the risk and cost of product development, while maximizing speed to market of advanced materials by seamlessly integrating proprietary, high throughput systems with strategic research partnerships, knowledge generating software, and scaleable R&D assets. From enhanced product development, to accelerated commercialization, to new technology platforms, Accelergy drives innovation. The company currently has offices in Palo Alto, California, and Shanghai, China and is backed by a group of leading investors, including Advent International, Goldman Sachs, Lux Capital, Mobius VC, Nth Power, Sequoia Capital, and Technology Partners. For more information, visit www.accelergy.com.About Sequoia Capital
Sequoia Capital provides venture capital funding to founders of startups who want to turn business ideas into companies. As the "Entrepreneurs Behind the Entrepreneurs", Sequoia Capital's Partners have worked with innovators such as Steve Jobs of Apple Computer, Larry Ellison of Oracle, Bob Swanson of Linear Technology, Sandy Lerner and Len Bozack of Cisco Systems, Dan Warmenhoven of Network Appliance, Jerry Yang and David Filo of Yahoo!, Jen-Hsun Huang of nVIDIA, Michael Marks of Flextronics, Larry Page and Sergey Brin of Google, Chad Hurley and Steve Chen of YouTube and Dominic Orr and Keerti Melkote of Aruba Wireless Networks. To learn more about Sequoia Capital visit www.sequoiacap.com.
Contact:
Fan Zhang
SEQUOIA CAPITAL
zhang@sequoiacap.com
