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Shareholders of Harris & Harris Group may be interested to know that Innovalight, Inc., announced that it has raised $18 million in additional capital. EDB Investments (EDBI) of Singapore led this series D financing. Also joining this investment round was Vertex Venture Holdings, the venture subsidiary of Temasek Holdings, Singapore. All existing investors, Apax Partners, ARCH Venture Partners, Convexa Capital, Harris & Harris Group, Sevin Rosen Funds and Triton Ventures, participated in the round. This new round of capital will be used to expand the company's proprietary silicon ink production for customers. Innovalight recently announced a record 18 percent conversion efficiency with its silicon ink solar cell platform. The industry standard size solar cell results were independently certified by two of the world's recognized solar cell testing centers, the U.S. Department of Energy's National Renewable Energy Laboratory (NREL) and The Fraunhofer Institute for Solar Energy Systems (ISE) in Germany. You may view Innovalight's press release at http://www.innovalight.com/PDF/news/Innovalight_Raises_18m_Jan2010.pdf.
Harris & Harris Group is an investor in privately held Innovalight, Inc.
Harris & Harris Group is a publicly traded venture capital company that invests in nanotechnology and microsystems. Detailed information about Harris & Harris Group and its holdings, including articles on nanotechnology, cleantech and venture capital, can be found on its website at www.HHVC.com.
This news release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this news release. Please see the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2008, as well as subsequent filings, filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company's business, including but not limited to the risks and uncertainties associated with venture capital investing and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The references to the websites www.HHVC.com and www.innovalight.com have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this news release. Harris & Harris Group is not responsible for the contents of third party websites.
CONTACT: DOUGLAS W. JAMISON
TEL. NO. (212) 582-0900
