Shareholders of Harris & Harris Group, Inc.® may be interested to know that privately held Nextreme Thermal Solutions, Inc., based in Research Triangle Park, North Carolina, and In-Q-Tel, a private, not-for-profit venture group funded by the CIA and the U.S. Intelligence Community, today announced a new strategic investment agreement designed to advance the development of new thermal management and power generation products.<
Harris & Harris Group invested $500,000 in Nextreme Thermal Solutions in December 2004.
Nextreme Thermal Solutions manufactures thermoelectric devices to address the thermal management needs of the semiconductor, photonics, bio-medical and defense/aerospace industries. These solid-state devices operate as miniature heat pumps for cooling semiconductors and photonic devices. Other applications include converting heat into electricity for power generation applications, thermal batteries and automotive energy management.
Harris & Harris Group is a publicly traded venture capital company that makes initial investments exclusively in tiny technology, including nanotechnology, microsystems and microelectromechanical systems (MEMS). The Company's last 26 initial private equity investments have been in tiny technology-enabled companies.
Detailed information about Harris & Harris Group, Inc. and its holdings can be found on its website at http://www.TinyTechVC.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 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, Harris & Harris Group, Inc., undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The reference to the website www.TinyTechVC.com has been provided as a convenience, and the information contained on such website is not incorporated by reference into this news release.