Xconomy Seattle

MicroGreen Polymers, Inc. Obtains $1,600,000 New Funding Round

Feed Type
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9aa6bba6-a05a-43e0-8dd9-813178339a85&Preview=1
Date
7/9/2009
Company Name
MicroGreen Polymers, Inc.
Mailing Address
19421 59th Avenue NE Arlington, WA 98223
Company Description
MicroGREEN Polymers is on a mission to give the plastics industry and the world environmentally sound plastics technologies with substantial economic advantages. MicroGREEN Polymers Inc. was incorporated September 11, 2002, in Washington State (“Micro” derived from the microcellular technology and “green” from the eco-friendly nature of the technology). The founders, Greg Branch and Krishna Nadella, were working on advanced degrees at the University of Washington in the field of microcellular polymer manufacturing. They continued technology development and negotiated with the University of Washington to license existing patents.
Website
http://www.microgreeninc.com/
Transaction Type
Venture Equity
Transaction Amount
$1,600,000
Transaction Round
Undisclosed
Proceeds Purposes
The money will be used to build up MicroGreen’s commercial manufacturing capacity, and boost its payroll from 9 people to as many as 30 over the next year, says CEO Tom Malone.
M&A Terms
Venture Investor
WRF Capital
Venture Investor
Alliance of Angels
Venture Investor
Northwest Energy Angels
Venture Investor
Atlas Accelerator