ELAM-T raises #2.5 million

Investee Company – ELAM-T Ltd

Investee Company Business Type – Developer of ELAMATES® devices and technology

Type of Financing – Expansion

Equity Providers – Advent Venture Partners, i-NET VCT plc, Downing Classic VCT plc, British Smaller Technology Companies VCT and private individuals.

Equity Leader (Individual) – Dave Cheeseman, Advent Ventures

Debt Providers – N/A

Debt Type – N/A

Debt Leader (Individual) – N/A

Equity Amount – £2.5 million

Total Deal Value – £2.5 million

Other Advisors – Altheimer and Gray, Village Capital Ltd

Comments – ELAM-T, a developer of ELAMATES® devices and technology, has secured a £2.5 million second round of financing from a consortium of investors. Advent Venture Partners’ Advent VCT and Advent 2 VCT led this round of funding and was joined by i-NET VCT plc, Downing Classic VCT plc, British Smaller Technology Companies VCT and private individuals.

ELAM-T, a company spun-out from South Bank University in 1999, develops, patents and licenses to display manufacturers a range of high performance electroluminescent (ELAMATES® ) and related technologies. ELAMATES® address the demanding requirements of the Flat Panel Display market where there is a continuing search for energy efficiency, lightness, brightness and sharp colours. ELAMATES® emits pure colours and exhibits very high photoluminescent efficiency and electrolumiscent efficiency, and offers significant reductions in manufacturing costs.

The funding will be used to accelerate commercial co-development of ELAM-T’s patented technology, in particular ELAM-T is now bringing its ELAMATES® product to market.

Dave Cheeseman of Advent Ventures commented: “ELAM-T has a unique technology with clear potential revenue streams and in addition is developing strategic relationships with several major players in opto-electronics. This latest funding will enable the management to take the business forward to the next stage of its development and consolidate a leading position in the market”.