Investment to Accelerate Development of New Diode Laser Products
MADISON, WI – August 17, 2005 – Alfalight, Inc., an innovative manufacturer of highly efficient and reliable diode lasers, today announced that it has received an additional $7 million in funding, led by GF Private Equity Group, LLC. All of Alfalight’s major previous investors participated, including ARCH Venture Partners, Advanced Technology Ventures, EDF Ventures, CenterPoint Ventures, Venture Investors, Wisconsin Alumni Research Foundation and Advantage Capital Partners.
The new investment will fund the expansion of product lines based on Alfalight’s portfolio of high-power diode laser technologies that include super-high efficiency, wavelength stabilization and high brightness. The company’s advanced diode lasers are used in industrial, defense and telecommunications applications including fiber lasers, optical amplifiers, and diode-pumped solid-state lasers.
This round of funding marks significant milestones for the company. Alfalight has completed five sequential quarters of commercial revenue growth and has successfully executed on several significant research and development programs. One such program is the Super High Efficiency Diode Sources (SHEDS) program, in which Alfalight achieved world-record diode performance and recently qualified for additional funding from the Defense Advanced Research Projects Agency (DARPA).
“This additional funding is a vote of confidence in our technology, products and execution capabilities by the investment community,” said Mohan Warrior, president and chief executive officer of Alfalight. “We welcome our new investors, GF Private Equity Group, and the continued support of all the existing investors. This expansion round will position Alfalight to serve our customers with higher levels of quality, innovative product solutions and flawless delivery.”
“Alfalight has proven its dedication to successfully commercializing innovative laser diode technologies,” said General Ronald R. Fogleman, retired Air Force chief of staff and advisor to the GF Private Equity Group. “This team is on track to deliver diode laser capabilities that meet existing and emerging requirements for industrial and defense laser systems.”
“We are excited to add Alfalight to our growing portfolio of emerging technology companies,” said Dave Fallace, vice president atof the GF Private Equity Group. “Alfalight is poised to deliver significant value to their target markets.”
Alfalight, Inc. is a technology innovator and manufacturer of highly efficient and reliable high-power diode lasers for industrial, defense, and telecommunications markets worldwide. The company’s advanced Aluminum-Free Active region (ALFA) diode lasers provide industry-leading efficiency, reliability, power and brightness. Alfalight has exclusive license to patents that include high-power narrow-spectrum stabilized lasers, single-mode lasers, and short-wavelength lasers. Alfalight’s current high-power diode laser product line includes free-space and fiber-coupled single emitters as well as fiber-coupled multi-emitter pump modules. For more information, visit www.alfalight.com.