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| | January 22, 2009
ATEL Ventures Commits $5MM in Equipment Lease Financing to 6N Silicon Inc.
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| | - http://www.businesswire.com/portal/site/home/template.NDM/news/all/?javax.portlet.tpst=ccf123a93466ea4c882a06a9149550fd_ws_MX&ja
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| | SAN FRANCISCO--(BUSINESS WIRE)--ATEL Ventures, a leading provider of secured financing to emerging growth companies, is pleased to announce it has committed $5 million in equipment lease financing to 6N Silicon Inc., a developer of solar-grade silicon purification technology whose revolutionary process features very low environmental impact and rapid scaling capability.
6N Silicon has experienced accelerating momentum in the photovoltaic industry as result of its proprietary process for purifying inexpensive, readily available metallurgical grade silicon into solar grade silicon using low cost metallurgical processing. The use of standard metal processing tools has allowed 6N to avoid the high energy requirements typical of traditional silicon processing plants.
"6N's strong momentum and vision made it a compelling investment for ATEL," said Steve Rea, Executive Vice President at ATEL Ventures, a division of ATEL Capital Group.
Paolo Maccario, 6N Silicon CEO, added, "We sincerely appreciate this support from ATEL and the relationship that we have built. Receiving this endorsement during the current economic cycle further validates our business model. This financing is allowing us to continue the expansion of our operations to satisfy our growing customer requirements."
About ATEL Ventures
Since its founding in 1977, San Francisco-based ATEL Capital Group has become the largest private and closely-held independent leasing company in the United States, with approximately $2 billion in asset-secured transactions under management. ATEL Capital formed ATEL Ventures, Inc. to provide working capital and equipment financing term loans to emerging growth companies in information technology, life sciences, specialty retail and alternative energy. For information about ATEL Ventures, contact Steven Rea, executive vice president, or visit their website at www.atel.com/ventures.
About 6N Silicon
6N Silicon has developed a disruptive, low-temperature process that leverages the use of aluminum as a metal solvent for the cost-effective production of high purity solar grade silicon. The unique 6N Silicon approach satisfies two fundamental solar PV industry requirements; fast capacity growth and low overall cost. Headquartered in the Greater Toronto Area, 6N Silicon is in the heart of Canada's metal processing industry.
6N Silicon has received the Deloitte & Touche Technology Green 15 Award for the past two years in a row, recognizing it as one of the top green technology companies in Canada. The company has also received the Red Herring Top 50 Award. 6N investors include Good Energies, Ventures West and Yaletown Venture Partners. For more information, please visit 6N Silicon's web site at http://www.6nsilicon.com.
Contacts
ATEL Ventures, Inc.
Steve Rea, 415-616-3436
Executive Vice President
srea@atel.com
or
6N Silicon Inc.
David Dunnison, 905-856-0367
Vice President Business Development
david@6nsilicon.com |
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| | You can view the Next News Releases item: Thu Feb 11, 2010, Calisolar Acquires 6N Silicon
You can view the Previous News Releases item: Tue Oct 21, 2008, 6N Silicon announces new Head Office and launches Production Plant
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