Hydrovolts Wins $50,000 ZINO Green Fund
Last week, Hydrovolts was selected as the winner of the
$50,000 ZINO Green 2009 Investment Fund. Said Cathi Hatch, ZINO Society CEO, "Three years ago when we launched the ZINO Green Investment Forum, Clean Tech was barely on the investment radar screen. This year the fund investors described the kind of company we envisioned awarding the ZINO Green Investment Fund to. Hydrovolts exactly fits that vision."
Hydrovolts CEO Burt Hamner was ecstatic to win a third consecutive contest. "This investment from the ZINO Society is recognition that we have a truly unique technology and business model with huge global potential."
The selection of Hydrovolts came two weeks after the ZINO Green competition on April 22, where Hydrovolts was picked as one of three Fund finalists, as well as sole winner of the ZINO Zenith Award for "Best Investment Opportunity".
The Fund investors used the extra time to ask additional questions and receive further information as part of their due diligence process. "It was clear that they did their homework on our business," commented Hydrovolts COO Chris Leyerle, "and we are pleased that the ZINO Green Investment Fund LLC will be bringing that expertise and involvement as part of our investor group. It adds a lot of value to what we are building."
ZINO Green was attended by some 120 accredited investors, clean tech advocates, press and local entrepreneurs, who saw presentations from Hydrovolts and eleven other companies. "This is the third annual ZINO Green Investment Forum, and the dealflow was the most impressive to date," remarked Mary Holmes, ZINO Society's V.P. Business Development. "Hydrovolts made a great impression on the investors."
The ZINO Society is an "angel investment membership network that connects people with ideas and capital to create opportunities for commerce, education, social interaction and innovation." ZINO has more than 225 active members, has hosted over 100 presenting companies and has been instrumental in helping raise almost $10M of funding for presenting startups since 2005.
Thanks again to all our friends and supporters who helped us prepare for and win this prestigious event!
Xconomy.com blog post
Hydrovolts press release
ZINO Society press release
ZINO blog post