Harris & Harris Group, Inc., announced today that it has exercised its option to invest an additional $500,000 in Starfire Systems, Inc., a privately held company headquartered in Malta, New York. With this investment, Harris & Harris Group has invested a total of $750,000 in Starfire Systems.
Starfire Systems offers a family of patented silicon carbide forming polymers for the manufacture of advanced ceramic materials applications. Starfire's range of matrix polymers and silicon carbide CVD precursors simplifies the formation of advanced ceramic materials and yields nanostructured ceramics with enhanced properties. Starfire Systems has targeted applications in automotive and aircraft friction materials, aerospace systems and microelectronics.
Harris & Harris Group is a publicly traded venture capital company that now makes initial investments exclusively in tiny technology, including nanotechnology, microsystems and microelectromechanical systems (MEMS). The Company's last 22 initial private equity investments have been in tiny-technology enabled companies.
Harris & Harris Group is a business development company with 17,248,845 common shares outstanding.
Detailed information about Harris & Harris Group and its holdings can be found on its website at www.TinyTechVC.com.
This press 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 press 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.