Fludicon announces the completion of 3 million euros financing

Darmstadt, December 19, 2007 – Fludicon, leading developer of active mechatronic components based on the use its eletro-rheological fluids (ERF), which was spun off from Carl Schenck AG in 2001, announced the completion of its 3 million Euros financing. The round was led by Munich Venture Partners, with co-investors Schneider Electric Ventures, Fraunhofer Gesellschaft, KfW Mittelstandsbank and TechnoStart who was investor in Fludicon before.

Sönke Mehrgardt, Managing Partner at Munich Venture Partners and former CTO of Infineon, Ignace de Prest, Partner at Schneider Electric Ventures, and Professor Holger Hanselka, Fraunhofer Gesellschaft, joined Fludicon’s board of directors.

Fludicon will use the funds to industrialize its first standard active damping
products range and take them to market to provide more security and adaptative comfort to its customer applications in the transportation, sports & medicine, and industrial markets.

The company continues its record as a pioneer in the development of ERF technologies and products. Fludicon developed and brought to market the first active dampers based on electro-rheological fluids, which offer strong advantage on competing active damping technologies.

Electro-rheological fluids are smart fluids of which viscosity changes when exposed to an electrical field. Applied with digital electronics and non linear control, they offer a unique potential for highly innovative and breakthrough solutions in valve control, vibration damping and actuation. Fludicon develops ERF based systems targeting the transportation, sport and medicine equipment, and industrial markets. Among the first commercial products of Fludicon are some active dampers for fitness machines that allow replacement of costly and voluminous systems.

Fludicon’s CEO Stefan Luber said, “The significant investment provided by our investors provides us with the means to meet our challenges of completing robust product range and start deploying sales. Our ambition in the mid term is to replace all conventional hydraulic systems by ERF technology in order to provide the end-user with more security and comfort. Additionnally, our active damping systems allow significant energy savings in transportation applications like trucks or passenger cars. We evidenced our truck dampers allow to save up to 15% energy.”

Sönke Mehrgardt, of Munich Venture Partners stated, “We are excited by the enormous potential of Fludicon technology, and believe Stefan Luber and his team have the skills to make it an international success.”

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Contact:
Stefan LUBER
Tel: +49 6151 2798 6
Mail: luber@fludicon.com

About Fludicon
Fludicon develops, manufactures and sells active mechatronic components, based on electro rheological fluids (ERF). ERF fluids are smart materials of which viscosity instantly changes when exposed to a voltage, ranging from liquid to solid. Fludicon products deliver unique security, adaptative comfort and energy saving features to applications in the sport and medicine equipment, transportation, and industry markets. Spun off from Carl Schenck AG in 2001 and backed by investors including Munich Venture Partners, Schneider Electric Ventures, Fraunhofer Venturegruppe, KfW and TechnoStart, Fludicon is the first organization worldwide to bring ERF applications to an industrial production state.
www.fludicon.com

About Munich Venture Partners
Munich Venture Partners was founded by senior managers in the software and semiconductor industry, and experienced venture capital professionals. As the prime partner of the Fraunhofer-Gesellschaft, one of the world's leading research organizations for applied research, Munich Venture Partners invests in selected high-tech start-ups in the information, communication and energy technology space. Investors into the Munich Venture Partners' fund include SAP, Swisscom, Sal. Oppenheim and the KfW Bankengruppe. Given these financial partnerships Mu

Publisher Contact Information:

Fludicon GmbH
+49 6151 2798 6
luber@fludicon.com

Company profile of Fludicon GmbH
Past press releases of Fludicon GmbH.