Shareholders of Harris & Harris Group, Inc., may be interested to read the articles appearing in Red Herring and Time magazine. The most recent article in Red Herring appears on its website on May 1, 2006, and is entitled, "Nano Solar Firm Gets Funding." In the December 12, 2005, print edition of Red Herring, there is an article on page 28 entitled, "Conrad Burke's InnovaLight Aims to Solve One of the Solar Power Market's Biggest Problems." Time magazine had an article in its December 12, 2005, print edition entitled, "Let There Be Nano," which appeared in the Bonus Section on page A3. All of these articles are available for viewing on the internet.
Harris & Harris Group, Inc., led a $7.5 million Series B round of financing of privately held Innovalight, Inc., of Santa Clara, California. The Series B financing included investments from existing investors Apax Partners, ARCH Venture Partners, Sevin Rosen Funds and Triton Ventures.
InnovaLight is developing a new era of ultra low-cost, high-performance renewable energy products, by harnessing the yet untapped powerful quantum effects of silicon nanotechnology.
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 29 initial private equity investments have been in tiny technology-enabled companies. The Company has 20,756,345 common shares outstanding.
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.