Solar Cool Technologies has been touched by an angel or rather, a network of angels. Earlier this month, with the help of the Long Island Angel Network (LIAN) - a not-for-profit corporation consisting of individual angel investors interested in financing early stage companies based on Long Island - announced a total investment of $800,000 to support the research and development company.
Long Island has a history of innovative companies covering aerospace to computer sciences and Solar Cool Technologies has similar promise, said LIAN Chairman Michael L. Faltischek. The Long Island Angel Network saw investor value and potential for our region to benefit from the company's research and development.
LIAN's support allows Solar Cool Technologies to open headquarters at the new Advanced Energy Research & Technology Center (AERTC) and begin the manufacture and production in Long Island of the Solar-Cooler ®, the world's first portable solar powered refrigerating cooler to be available commercially, in 2012. The Solar-Cooler ® is designed for general consumer use - beaching, camping, and boating - as well as military, medical, and emergency disaster relief. Formed in 2007, Solar Cool Technologies researches and develops new applications, technologies, and methods for converting natural and renewable resources to power products of everyday life.
This investment will enable us to bridge the gap between proven technology and prototype to a manufactured finished good for our rapidly growing sales inquiries, said Ryan McGann, CEO of Solar Cool Technologies. We are exceedingly grateful to Long Island Angel Network for the confidence and the support throughout the start-up process and we are excited to move ahead in developing our environmentally friendly technologies and products.
About Long Island Angel Network:
Founded in 2006, LIAN is a not-for-profit corporation consisting of individual angel investors interested in financing privately held companies or ventures based in Long Island, NY. LIAN's goal is to bring the region's most exciting, promising early stage growth companies together with investors and benefit the local economy. For more, visit www.liangels.weebly.com
About Solar Cool Technologies:
Headquartered at SUNY Stony Brook's Advanced Energy Research and Technology Center (AERTC) in Long Island, NY, this research and development company was formed in 2007 to develop self-sustaining temperature stabilization systems, including environmentally friendly products and subsidiary technologies. For more, visit www.solarcooltech.com.