Optosecurity announces $5.0 million of venture capital financing
New investment will accelerate market penetration for the world’s first inline liquid threat detection system
Quebec, October 7th, 2008 -- Optosecurity Inc., (http://www.optosecurity.com) announced today the closing of a $5 million venture capital financing from a group of investors - including the significant participation from a new investor, Accès Capital Québec. Existing investors in Optosecurity including BDC Venture Capital, Fondaction CSN, Capital régional et coopératif Desjardins are also participating.
Optosecurity Inc. develops breakthrough security products that improve the performance of X-ray screening systems deployed at airports and checkpoints securing critical infrastructure. The funds will be used to accelerate market penetration and to support ongoing worldwide field trials, certification tests, and feature enhancements of the OptoScreener®. The OptoScreener is an inline checkpoint security system that automatically detects handguns hidden in baggage and identifies explosive liquids without opening containers.
Mr. Eric Bergeron, President and CEO of Optosecurity is very proud to announce this new financing round, "We are transitioning into our commercial phase with 2008 product shipments to international customers, in parallel we are engaged in certification processes with key security regulators in multiple countries. The OptoScreener is already successfully deployed in critical infrastructure checkpoints, and we anticipate deployments at more high profile locations in 2009. Our unique liquid threat detection system should soon make it possible for the traveling public to bring back regular liquids and gels onboard aircraft – significantly reducing traveler delays and frustration at airport checkpoints. We warmly welcome our new investor, Accès Capital Québec, and the active participation by our existing investors, demonstrating ongoing conviction in our technology and team.”
Mr. Pierre Tessier, CA, Associate Director at Accès Capital Québec said, "We are delighted to support Optosecurity in its mission to make the world a safer place by creating innovative products that improve security.”
Mr. Jacques Dénommée, Director - Investments at the BDC Venture Capital said, "We are pleased with the progress of the Company and confident that Optosecurity will soon become a standard in checkpoint threat detection.”
About Optosecurity Inc.
Optosecurity Inc. develops breakthrough security products that improve the performance of checkpoint X-ray screening systems, empowering security personnel to work more efficiently and consistently to detect and identify potential threats, such as dangerous liquids and weapons. http://www.optosecurity.com
About our investors
Accès Capital Québec is, since 1997, a regional investment company whose mission is to contribute actively to the development of SMEs in the Québec City Region by providing equity and quasi-equity financing in the form of share capital and debentures. www.acces-capital.ca
BDC Venture Capital, established in 1975, is a major venture capital investor in Canada. The Company has invested in over 400 firms to date and currently manages some $500 million in venture capital investments in the life sciences, telecommunications, information technology, and advanced technology sectors, as well as investments in funds. www.bdc.ca
Fondaction CSN, established in 1996, invests in development capital in order to maintain and create jobs in Quebec. Its net assets, which totaled $475 million as of November 30, 2006, come from the retirement savings of more than 65,000 shareholders. Fondaction acts as the financial partner of 100-odd businesses and partner and specialized funds. www.fondaction.com
Desjardins Capital régional and coopératif is a publicly-traded company founded in 2001 on the initiative of the Desjardins Group. The Company's primary mission is to raise venture capital with a view to fostering the economic development of Quebec's cooperatives and resource regions. www.capitalregional.com www.dcrdesjardins.com
For additional information please contact:
Mark Scott
Senior Advisor
mscott@optosecurity.com
1.866.281.3240
514.402.0272
