MAGNEMOTION, INC.
MCRC is pleased to announce a new investment in portfolio company MagneMotion, Inc. Mass. Capital participated in a financing with Delta Electronics and individual investors. Headquartered in Devens, MagneMotion provides Linear Synchronous Motors (LSM) and advanced transport solutions for high performance assembly, process, test and manufacturing automation. MagneMotion’s LSM products are used to create faster, more efficient, and more reliable automation solutions than conventional systems. The LSM technology is embodied in the Company’s QuickStick and MagneMover LITE product lines, which can accommodate a variety of acceleration, speed and payload requirements. MagneMotion’s advanced LSM technology is a breakthrough and provides significant advantages in powering automation, manufacturing and logistics systems, as well as in a new class of shipboard elevators developed for the U.S. Navy. In addition, MagneMotion is developing a new generation of Magnetic Levitation (Maglev) technology for urban transit applications under contract to the Federal Transit Administration. Organizations ranging from the U.S. military and government agencies, to Fortune 100 companies and leading automation systems integrators have adopted MagneMotion’s technology. Proceeds from this financing are being used to fund the Company’s anticipated growth and to accelerate its entrance into new vertical markets.
MCRC’s initial investment in MagneMotion was made in 2006.
For more information on MagneMotion, Inc., please visit www.magnemotion.com.
ABOUT MCRC
Massachusetts Capital Resource Company, a private investment company located in Boston, is a source of mezzanine financing for emerging growth and middle market companies. The company was formed in 1977 by the Massachusetts-based life insurance industry to provide risk capital and long term debt to small and medium sized businesses based in Massachusetts. For more information, please visit our website (www.masscapital.com) or contact us at 617-536-3900.