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| Friday, April 07, 2006 |
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| Polar Industries, Inc. Receives VC Funding |
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Robert P. Hannan, Managing Director of the Orange County Capital Development Corporation announced today that Polar Industries has successfully negotiated an agreement with Aegis Capital to invest $500,000 in Polar in the form of a senior secured loan with warrants.
Polar has been working with OCCDC to obtain funding and was introduced to Aegis by OCCDC through its relationship with New Jobs for New York, a New York organization promoting investment in early revenue companies in upstate N.Y. Polar was a presenter at the New Jobs for New York Pitch Day program held on February 13, 2006.
Polar Industries is a leading manufacturer of next-generation security products using IP technology and 360 degree digital imagery to provide state-of-the -art systems with advanced remote monitoring, smart sensor and wireless network capabilities.
Polar is the second company to receive funding in the past twelve months through the efforts of the Orange County Capital Development Corporation. |
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