7AC Technologies Receives Series B Financing
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Feed Type
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Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d29fac7c-3fc4-42de-b791-51a8a2236a0b&Preview=1 -
Date
7/23/2012 -
Company Name
7AC Technologies -
Mailing Address
92-94 Cummings Park Woburn, MA 01801 -
Company Description
7AC Technologies, Inc. develops revolutionary Ultra Efficient Liquid Desiccant HVAC systems for Commercial and Industrial (C&I) buildings delivering a 50%+ reduction in energy costs over conventional HVAC units. -
Website
http://www.7actech.com -
Transaction Type
Venture Equity -
Transaction Amount
Undisclosed -
Transaction Round
Series B -
Proceeds Purposes
The money will go toward product development as the company plans to introduce a commercial prototype in coming months using its liquid desiccant technology to remove humidity from the air. Vandermeulen said the money will also go toward hiring a couple more people to replace a few interns who will be leaving in a couple weeks. -
M&A Terms
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Venture Investor
3M Corporation
