FOR IMMEDIATE RELEASE
CONTACT:
Brian Glaister
President and CEO
Empowering Engineering Technologies, Corp.
Cell: (414) 807 7399
brian@eetechcorp.com
EETECH ANNOUNCES INITIAL CLOSE OF SERIES A EQUITY FINANCING
Seattle, WA (August 4th, 2010) – Empowering Engineering Technologies, CorpTM. (EETech), an early stage medical device company developing products to improve mobility for people with disabilities, announces it has closed $282,000 of a $750,000 Series A equity round of financing.
The round included investment from the membership of WINGS, the Washington Medical Technology Angel Network, and individual investors. The remaining $468,000 will remain open to additional investors through the end of August, 2010.
“We are very excited to have closed on this investment,” said Brian Glaister, President and CEO of EETech. “We have worked long and hard to get to this point, and now we have the resources to start bringing our life-changing products to the marketplace. These funds will specifically be used to develop and test a production release of ExoWalkTM, a revolutionary assistive device
that could dramatically improve mobility and quality of life for millions of people with disabilities.”
As part of the initial close, EETech appointed four members to its Board of Directors. Michael Hovanes, former CEO of InstruMed, was appointed Chairman. Joining Michael as Directors were John Castle, a Lecturer in Entrepreneurship at the University of Washington, and George Saul,
former VP of the PSoC division at Cypress Semiconductor. Brian Glaister will represent management on the board.
“I couldn’t be more pleased with the directors we’ve attracted to our board,” said Mr. Glaister. “They bring not only a wealth of experience and expertise to EETech, but have also brought tremendous passion for helping people with disabilities. I am very honored to be able to work with such a distinguished board and look forward to all that we will accomplish together.”
About Empowering Engineering Technologies, Corp. EETech is a privately held early stage medical device company whose mission is to improve mobility for people with disabilities. The company’s flagship ExoWalk product is a revolutionary passive device that can provide assistance to lower limb muscles and facilitate walking for people with disabilities. EETech is headquartered in Seattle, WA. For more information, please visit www.eetechcorp.com.
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Contact:
Brian Glaister
President and CEO
Empowering Engineering Technologies, Corp.
Cell: (414) 807 7399
brian@eetechcorp.com