ATMOSPHERIC PLASMA SOLUTIONS RAISES $3.5M SERIES B FINANCING
ATMOSPHERIC PLASMA SOLUTIONS RAISES $3.5M SERIES B FINANCING
APS RAISES CAPITAL TO SUPPORT GLOBAL PRODUCT LAUNCH AND NEW TECHNOLOGY DEVELOPMENT
CARY, N.C. – 6/4/2020 – Atmospheric Plasma Solutions, Inc., (“APS”) a leader in the development of technology and products that leverage the power and benefits of atmospheric plasma technology, has just closed on a $3.5M Series B financing with an existing investor. This comes shortly after closing a convertible note round in early 2020 which raised approximately $3.2M. “As we were wrapping up our convertible note round, our Board challenged us to think bigger and present a case for a larger investment. I worked with Founder/CTO Peter Yancey and COO Robert Ross to develop a strategy for APS to accelerate market adoption of our newest product-line for coating removal and surface preparation, PlasmaBlast®, and more rapidly develop the next-generation of APS products. The Series B investment allows us to initiate this plan.” said Glenn Astolfi, President and CEO of Atmospheric Plasma Solutions, Inc.
“With the close of the Series B financing, we’ve strengthened our balance sheet, which allows us to offer leases to our customers. As our customers look to modernize their coating removal processes, now offering leases for PlasmaBlast® allows adoption of our technology to only be an OPEX-decision.” said Ross. APS is also actively hiring. This year through May, four new positions have been added. Furthermore, the company is actively recruiting additional engineering and technical support positions.
In conjunction with the Financing Round, the APS shareholders elected three Outside Directors to the Board of Directors: Richard “Rick” McNeel, formerly CEO of LORD Corporation, Bill Carter, former executive at Advance Auto Parts and Victra, and Retired Rear Admiral Anthony Lengerich. CEO Glenn Astolfi stated, “I am excited and humbled to be joined by the depth and breadth of talent that we have assembled on our Board of Directors. The management team and other stakeholders will benefit greatly from the wisdom, experience, and contacts of these former Naval officers and executives at multi-Billion-dollar companies in markets where our technologies can transform operations.”
About Atmospheric Plasma Solutions
Atmospheric Plasma Solutions, Inc. (dba “AP Solutions, Inc.”) was formed in 2005 by then NCSU PhD student Peter Yancey. For 12 years, the APS team pursued plasma science research and developed a rich portfolio of IP and initial products. In 2016, now-CEO Glenn Astolfi joined the company and began to steer APS toward developing industrial-grade products. Today, APS products are in use on 4 continents by customers including, but not limited to, the US Navy, US Army, pharmaceutical manufacturers and other Fortune 100 firms. APS continues to conduct advanced plasma research in partnership with leading private companies and federal agencies. For more information about APS visit https://www.apsplasma.com.
Contact Information
Glenn Astolfi
919-219-5047