ECOSMART Closes New Credit Facility with Western Technology Investment
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Atlanta, GA. (PRWEB) December 16, 2009
EcoSmart Technologies, Inc. announced today the closure of a facility of $ 4 million credit with Western Technology Investment (WTI). This new facility replaces a facility of $ 1.5 million credit.
“We are witnessing the explosive consumer demand for our complete line of pesticide products safe and effective,” said Vern Kennedy, CEO of EcoSmart. “The credit facility provides additional capital WTI we scale the company to meet this growing demand.”
Mike Lemberg, CFO, added: “We examined a number of different solutions and have been happy to have a number of options in these difficult credit markets. We are delighted to work with as WTI they stood out clearly because of their experience working with high growth companies as EcoSmart. “
At WTI, we strive to play an important role in providing growth financing to companies with venture capital, “said Jay Cohan, Investment Partner at WTI. “Loans success as our company has nearly 30 years, requires us to identify companies in trouble to be winners in their markets. ECOSMART patented technology and the obvious need to position green products to be one of these success stories. “
About
ECOSMART Technologies
ECOSMART Technologies is the world leader in proprietary pesticide products derived from natural vegetable oils. The active ingredients ECOSMART products are unique, synergistic blends of essential oils, many of which are classified GRAS (generally recognized as safe) by the U.S. Food and Drug Administration and approved as direct food additive. EcoSmart technology is the first company to allow a change economically feasible synthesis of botanical pesticides on residential, commercial, industrial and agricultural. For more information, visit http://www.ecosmart.com
About Investment Technology West
Founded in 1980, Western Technology Investment (WTI) is the global leader in corporate venture capital, corporate finance, venture capital in technology, healthcare and clean technology industries. funds of 12 WTI is based on the history of the company’s success, which included investments in Ablation Frontiers, Brocade, Cerent, Evalve, Facebook, Google, IDEC Pharmaceuticals, Infoseek, IronPort, Juniper Networks, Nanosolar, Postini Transmeta and many others. For more information, please visit http://www.westerntech.com.
For more information, contact: press (at) EcoSmart (dot) com
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