The Quercus Trust Acquires the Assets of Applied Solar, Inc.
November 7, 2009 by · Leave a Comment
Applied Solar, Inc. (debtor-in-possession) (OTC Bulletin Board: APSO) (”we” or the “Company”) announced today that it has closed the previously-announced sale of its assets and operations to Quercus APSO, LLC, a wholly-owned subsidiary of The Quercus Trust. Quercus APSO, LLC intends to change its name and conduct business as Applied Solar, LLC.
With the consummation of the transaction, Applied Solar, LLC will have the benefit of a much stronger balance sheet and little or no long-term debt.
David Field, the Company’s President and Chief Executive Officer, commented, “We are pleased to announce the completion of this transaction, and look forward to continuing our efforts to develop new BIPV products, including an anticipated 2010 introduction of a product that will integrate with asphalt shingle roofing tiles, which represent approximately 80% of the U.S. residential roofing market. At the same time, we intend to further build upon our key strategic industry relationships that have enabled us to significantly penetrate the residential BIPV market and will soon lead our products into the European marketplace.” Mr. Field will continue in the same role as President and Chief Executive Officer of Applied Solar, LLC.
About The Quercus Trust
Based in Newport Beach, California, The Quercus Trust is recognized as one of the North America’s leading clean-tech venture funds, with strategic investments in the clean technology areas of solar, water, bio-fuels, wind and batteries. The Quercus Trust is known to provide more value than funding alone, and takes a long-term view of invested capital, leveraging its industry expertise and relationships for the benefit of its portfolio companies
AudienceScience Secures $20M in Venture Funding From Existing Investors to Fuel Domestic and International Growth
November 7, 2009 by · Leave a Comment
Online advertising leader AudienceScience has closed $20 million in venture capital funding from Silicon Valley firms Mohr, Davidow Ventures; Mayfield Fund; Meritech Capital Partners; and Integral Capital Partners. The new capital will be directed against initiatives to accelerate growth, including important employee additions, research and development against core targeting products, and international expansion.
Since introducing audience based targeting in 2003 AudienceScience has powered over 50,000 campaigns worldwide and is the eleventh largest online advertising network in the US. AudienceScience has experienced 100% growth through the first three quarters of 2009 and is solidly profitable. The Company’s performance in the face of a struggling online ad market in 2009 demonstrates the value behind its audience targeting solutions. The new funding will enable further expansion of AudienceScience’s industry leading audience targeting marketplace and strengthen its offerings to brand advertisers, premium Website publishers, and select online advertising networks.
“The commitment from our investors speaks to their confidence in our position in the online advertising industry, as data-driven audience based advertising has invigorated the market,” said Jeff Hirsch, President and CEO of AudienceScience. “We are excited that the company will have further means to leverage our leading technology and industry relationships to aggressively extend our market presence — both in the US and internationally.”
“AudienceScience is the leading online advertising audience targeting platform and is experiencing rapid growth in a tough environment,” said Rob Ward, Managing Director of Meritech Capital. “This financing will facilitate further expansion both domestically and internationally.”
About AudienceScience:
AudienceScience (formerly Revenue Science) is a technology-centric media company focused on the science of online marketing. AudienceScience is the only company worldwide to offer both an audience technology platform and a targeting marketplace, recording billions of behavioral events daily and reaching over 385 million unique Internet users. AudienceScience technology empowers Web publishers, marketers, networks, exchanges, and agencies to create intelligent audience segments to connect people with relevant advertising driving the transition to data-driven audience marketing online. Delivering targeted campaigns since 2003, AudienceScience serves more targeted ads worldwide than any other company for clients including Financial Times, Gannett, Jumpstart Automotive Media, New York Times Digital, NikkeiNet, Reuters.com, The Guardian.co.uk, Univison.com, and Wall Street Journal Digital. For more information, please visit www.audiencescience.com.
