NanoICE Updates

Source:  NanoICE Insider News, August 3, 2011.  

Series A Investor Update:  NanoICE formally opened the round on 6/29/2011.  The company expects to be closing on $1,625,000 of the $2.5 million round.

Manufacturing Update:  Manufacturing partner Red Dot has successfully built the first Alpha unit and the machine is making perfect NanoICE.  The company is now entering an extensive testing and quality control phase before starting to install units with customers for continuous commercial operation.

Pike Place Installation:  The original engineering unit installed at Pike Place Market has been removed following the field trial. The unit made sufficient NanoICE for the daily operations of the market and the trial was a success.  After the summer season, NanoICE will be installing a newly manufactured unit at the market.

New VP and Additional Marketing Support:  In order to ramp our sales efforts, we have retained Steve Dearden from Altus Alliance as our interim VP of Sales and Marketing.

First Sale of a US-Made 1020 Unit:  PickerTECH specializes in the semi-automated harvesting of fruit.  Their machines inspect, clean, and chill (with the help of NanoICE) soft fruits like apples and peaches (and soon cherries).  They purchased our first US made NanoICE machine to use on a WSU research study in Eastern Washington this summer to rapidly chill cherries.

Thoughts from CEO Craig Rominger:

During the last few months, we have made significant advances in manufacturing, marketing, and with the U.S. Government.  The significance of our combined FDA and USDA approvals cannot be overstated.

We are poised to begin selling into all food companies, and will keep our approach simple in the near future.  As planned, we are very focused on the seafood industry this year.  We will hire our Seafood Channel Manager this fall and grow this department with the help of an industry veteran.  We will approach Big Poultry next year, with a unique solution for this ailing industry.  Our sales strategy will leverage the Poultry Research completed by the University of Georgia this Fall.  Our Sweet Cherry Project and the Organ Transplant Shelf Life and Preservation Study are perfectly timed to coordinate with our manufacturing ramp-up.  We will provide two of our Alpha units to these projects allowing us to create revenue from Alpha builds.

With our manufacturing partner Red Dot, we have the ability to meet demand and scale as this demand grows. I could not be happier with our relationship and the dedication that Red Dot has shown to our product and our future growth. They are truly a strong, strategic partner. Congratulations and recognition go out to the entire Red Dot Advanced Engineering Team, as well as our own team members, Jon Gunnarsson, Elliott Gunnarsson, and Peyton McCann for a successful Alpha Build

For more information, email or call toll-free 1-855-NanoICE.