Harris & Harris Group, Inc. announced today that it has invested $310,000 in Solazyme, Inc., as part of a larger funding round the company recently closed. Solazyme is a privately held company based in Menlo Park, California, and Daniel V. Leff, a Managing Director and Executive Vice President of Harris & Harris Group, Inc., has joined the Solazyme Board of Directors.
Solazyme is a biotechnology company devoted to harnessing the energy-harvesting machinery of photosynthetic microbes to produce valuable products including industrial chemicals, nutraceuticals and pharmaceuticals. The Company utilizes proprietary genetic engineering methods to develop commercially relevant, sunlight-driven biochemical pathways by exploiting microbial photosynthesis, a biochemical system benefiting from 2.5 billion years of evolutionary optimization yet brought to genomic light very recently.
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 19 initial private equity investments have been in tiny-technology enabled companies. The Company has 17,248,845 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 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.