July 1, 2011: Mustard Tree Instruments™ announced today that it has closed its first round of financing securing $4.8 million dollars in a private placement. Mustard Tree Instruments has raised more than $5 million dollars since the company’s inception in May of 2009.
Founder and CEO Todd Blonshine said today, “Mustard Tree has a vision to bring lab testing to the production line in the pharmaceutical and chemical industries. This infusion of cash will allow us to make that vision a reality. Our first product, the Verifier Tri-Test 1000, launched in May 2011, has met with great enthusiasm.”
Mustard Tree Instruments™ makes devices that speed the determination of product quality in the pharmaceutical and chemical manufacturing industries. With product recalls becoming commonplace, the need for faster raw material, in-process and finished product testing has dramatically increased in recent years. The Mustard Tree Verifier™ series of products reduce testing time from hours to mere seconds. The overall goal is to accelerate and improve the QC and product verification process.
The Mustard Tree Verifier™ Tri-Test 1000 (VTT-1000) is the first instrument of its kind in the marketplace. The VTT-1000 combines the power of three sensors (color, machine vision, Raman spectroscopy) to determine the quality of powders, solids and liquids in less than one minute with no sample preparation. Future plans include two additional products to be developed and released within the next 18 months.
“Our instruments will transform our customer’s testing processes allowing them to streamline and improve the quality of their products that ultimately end up in the hands of consumers”, said Mr. Blonshine, “We are thrilled with the response to our private offering and are excited to be part of bringing innovative new products to the pharmaceutical and chemical manufacturing industries.”
The Company will use the proceeds of the private offering to enhance its operations related to (i) headquarters and laboratory expansion, (ii) sales territory development throughout North America and Europe, and (iii) research and development of future product offerings.
The private offering by the Company is not registered nor required to be registered under the Securities Act of 1933, as amended (the "Securities Act"). The private offering was made under Regulation D Rule 506.
About Mustard Tree Instruments:
Mustard Tree Instruments™ creates and delivers customer driven analytical instruments that enable pharmaceutical and chemical manufacturers to measure and control finished product quality, raw material purity and counterfeit identity. The technology also enables chemical and raw material suppliers to assure the quality and purity of the materials supplied to their manufacturing customers in a timely and cost effective way.
For more information or a product demonstration contact us at: Global Sales This email address is being protected from spambots. You need JavaScript enabled to view it.
Press Contact:
Lori L. Searls, Marketing
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970-232-6525
Mustard Tree Instruments™
10 Laboratory Drive, Building 2 Suite 100
Research Triangle Park, NC 27709
