Archive for June, 2010
Wednesday, June 30th, 2010
 NEW YORK – For the third consecutive month, the Dow Jones Economic Sentiment Indicator (ESI) rose modestly signaling an improving U.S. economy. For June, the ESI rose above 40 for the first time since 2008, hitting 40.3. The ESI is up slightly from 39.4 in May.
The ESI is determined by in-depth analysis of national news coverage across 15 daily newspapers.
Despite a drop in the U.S. National Unemployment Rate, coverage of the job market remained negative as articles focused on layoffs and workers struggling to find work.
Some of the more positive news topics throughout June, such as consumers benefiting from falling prices and improved economic activity, showed mixed results. The lower prices which spurred consumers to buy also pinched corporate profits.
Not out of the woods yet
“The ESI’s modest and steady rise over the last couple of months is a positive sign, but the U.S. is not out of the woods yet,” Dow Jones Newswires “Money Talks” Columnist Alen Mattich said. “Anxiety about the U.S.’s employment conditions and questions around Europe’s stability are key concerns that are unlikely to subside soon.”
The Dow Jones Economic Sentiment Indicator aims to predict the health of the U.S. economy by analyzing the coverage of 15 major daily newspapers in the U.S. Using a proprietary algorithm and derived data technology, the ESI examines every article in each of the newspapers for positive and negative sentiment about the economy.
The indicator is calculated through Dow Jones Insight, a media tracking and analysis tool. The technology used for the ESI also powers Dow Jones Lexicon, a proprietary dictionary that allows traders and analysts to determine sentiment, frequency and other relevant complex patterns within news to develop predictive trading strategies.
The ESI’s back-testing to 1990 shows that the ESI clearly highlighted the risk that the U.S. economy was sliding into recession in 2001 and 2008 and suggests the indicator can help predict economic turning points as much as seven months in advance of other indicators. More information about the Economic Sentiment Indicator and its development is available at www.dowjones.com/esi.
Tags: Dow Jones ESI, economy improving
Posted in Business Briefs, Studies, surveys, reports | Comments Off
Wednesday, June 30th, 2010
 C. Douglas While, OpGen CEO GAITHERSBURG, MD – OpGen, Inc., a genomics solutions company, has named C. Douglas White CEO. He replaces Evan Jones, managing member of jVen Capital and previous co-founder, chairman and CEO of Digene Corporation, who held the position on an interim basis.
In conjunction with this appointment, Jones remains a member of OpGen’s board of directors, and White also joins the board.
White brings more than two decades of global leadership experience in clinical diagnostics, including senior executive roles with BG Medicine, QIAGEN, Digene, Bayer Diagnostics and Chiron Diagnostics.
Jones commented, “Doug was an integral part of our success at Digene, guiding strategy and maximizing the value of the company’s technology, and I am confident that his considerable experience will provide invaluable insights as we seek to maximize the potential of OpGen’s Optical Mapping technology.”
Prior to joining OpGen, Mr. White served as executive vice president and general manager for the diagnostics division of BG Medicine, a commercial-stage company focused on the discovery and application of novel biomarkers associated with cardiovascular disease, central nervous system and autoimmune disorders.
White served as chair of the Americas Management Council and senior vice president of sales and marketing, Americas, for QIAGEN, N.V. He also served as senior vice president commercial operations, Americas and Asia Pacific, for Digene Corporation, prior to the company’s $1.6 billion acquisition by QIAGEN in July 2007.
Tags: C. Douglas White, genomics, Maryland, OpGen, People
Posted in Biotech, Maryland, People, Pharma, Potomac | Comments Off
Wednesday, June 30th, 2010
 BALTIMORE – Moodlerooms Inc., a company selling an e-learning management platform, has raised $7.15 million in equity, according to a regulatory filing. The company, which recently won the Maryland Incubator Company of the Year award for IT, has more than 700 customers.
We reported in February that the company raised $450,000.
Moodlerooms was founded in 2005 by former teachers Tom Murdock, Sheila Gatling and Gina Russell-Stevens. Its course management system, is based on the open source Moodle system, a free Web application that teachers use to create online learning sites.
Investors include Longworth Venture Partners, Kaplan Ventures, Frank A. Bonsal III, and New Markets Growth Fund.
CEO Martin Knott founded and funded numerous startups. Most recently, Knott established The Shepherd Group, a retained executive search firm, after serving as a managing director of three global search firms.
As a former teacher, we think the increasing use of technology by educators is overdue. The Potomac region is something of a hotbed for education tech. Industry giant Blackboard is located in DC and numerous startups have evolved there. Kaplan, although based in New York, is a Washington Post company.
The Moodlerooms Web site says it is the largest Moodle partner in the world and it has doubled in size from 2008 to 2009 while increasing revenue 100 percent since inception. Its joule product adds features such as reports, notifications, automated administration and content management to Moodle.
It was nurtured at the Baltimore Emerging Technologies Center.
The company disclosed the current financing in a filing with the U.S. Securities and Exchange Commission.
Contact Tech Journal South Editor and writer Allan Maurer: Allan at TechJournalSouth dot com.
Tags: education, financing, IT, Kaplan Ventures, Longworth Venture Partners, Maryland, Moodlerooms, New Markets Growth Fund
Posted in Education, Internet/New Media, IT, Maryland, Money, Potomac, Washington, DC | Comments Off
Wednesday, June 30th, 2010
 PONTE VEDRA BEACH, FL – Solar Energy Initiatives Inc. (OTCBB: SNRY), with businesses in solar project development, distribution and workforce training, today announced it has signed a letter of intent with a private developer to initiate a $4 million turn-key solar project in the State of Georgia.
Solar Energy Initiatives will serve as the developer of the project and will provide all of the solar equipment and balance of system to the commercial site. In addition to product sales and services, the Company will also receive revenue from the management of the sale of the newly generated solar electricity and solar renewable energy credits (SRECS) to the local utility, over a 10-year contract period.
SNRY plans to partner with a major funding source, as well as a recognized local solar installer, to launch the solar system. The project is designed to utilize approximately 4,250 solar panels totaling 1 megawatts of installed capacity and is projected to reduce hazardous carbon dioxide emissions by 1,500 tons, annually.
The company did not disclose the location of the site.
Tags: Florida, Georgia, solar energy, Solar Energy Initiatives
Posted in Energy, Florida, Georgia | Comments Off
Wednesday, June 30th, 2010
 By Stephen Johnson
HERNDON, Va. – June 30, 2010 – The Northern Virginia Technology Council (NVTC) announced on Thursday the winners of the 9th Annual NVTC Hot Ticket Awards, honoring the region’s best and brightest entrepreneurial technology companies.
Winners were selected in seven categories Hottest Social Buzz, Hottest Management Team, Hottest Bootstrap, Hottest Exit, Hottest Venture Capital Deal, Hottest Emerging Government Contractor, and Hottest International Company. The winners in each category are:
> Hottest Bootstrap: CustomInk.com, an e-commerce company that enables people to design and order custom decorated t-shirts and other products online for their groups and occasions. Clients range from
student groups, bands, and small businesses to charity walks, family reunions, and more.
> Hottest Social Buzz: ZoomSafer, a flexible policy management solution to ensure safe, legal and hands-free use of mobile phones while driving. ZoomSafer’s patented solution consists of three parts: (1) a web application to customize and administer safe driving policies, (2) a client application installed on mobile smart phones to enforce defined policies, and (3) a collection of enhanced hands-free services to call, text and email while driving.
> Hottest Exit: National Interest Security Company (NISC), a provider of information technology solutions, information management, and strategic consulting services in support of national interest and security initiatives. NISC distinguishes itself by aligning its services with the customer mission in five focused areas: Intelligence, Defense, Homeland Security, Energy, and Federal Health/Civilian agencies.
> Hottest Emerging Government Contractor: Agilex Technologies, an employee‐owned government services provider offering mission and technology consulting, software and solution development, and systems integration services. Agilex has delivered significant results for an impressive list of clients throughout the federal government. The company was established to address a significant need in the marketplace for a more solution-focused, outcome-oriented technology partner to key federal agencies.
> Hottest International Company: BroadSoft, A global provider of VoIP applications to the telecommunications industry, provides software that enables fixed-line, mobile and cable service providers to deliver voice and multimedia services over their IP-based networks. The company’s software, BroadWorks, enables more than 425 service providers in 65 countries to provide enterprises and consumers with a range of cloud-based, IP multimedia communications services, such as voice, HD voice, video calling, instant and text messaging, presence awareness, collaboration tools, call forwarding, extension dialing and video conferencing.
> Hottest Management Team: Zenoss, a commercial open source provider of service assurance and enterprise IT monitoring software. Zenoss Enterprise is a single model-based product that enables organizations to manage physical, virtual and cloud based IT infrastructure with unprecedented power, agility and value. Leveraging a commercial open source model, Zenoss products monitor over one million network and server devices daily and have been used in over 25,000 organizations in 180 countries around the world.
> Hottest Venture Capital Deal: LivingSocial, a company that works with merchants to feature a deal every day that allows users to save 50-70% on average at the hottest local restaurants, spas, fitness centers, bakeries, and more. Every morning the deal of the day is announced through Facebook, Twitter, the iPhone app, email newsletter and the LivingSocial Deals site.
The Northern Virginia Technology Council (NVTC) is the membership and trade association for the technology community in Northern Virginia. As the largest technology council in the nation, NVTC serves about 1,000 companies from all sectors of the technology industry, as well as service providers, universities, foreign embassies, non-profit organizations and governmental agencies.
Tags: Agilex Technologies, Blackboard, Custom Ink, Hot Ticket winners, Living Social, NVTC, ZoomSafer
Posted in Events, Government/Defense, Healthcare, IT, Potomac, Virginia, Washington, DC | Comments Off
Wednesday, June 30th, 2010
 RALEIGH, NC – Consert Inc., a company developing smart grid technology, has raised $17 million from Constellation Energy, GE Energy Financial Services, Verizon Ventures and private investors to expand its marketing, sales and technology. The company’s product lets customers use virtual timers to set energy-hungry appliances to shut down during times of peak consumption.
Consert employs 26 people and was founded in 2007. It raised $5 million in 2008 from private investors.
It conducted a pilot project with IBM and the Wake Electric Membership Corp. that saved customers an average of 17 percent by eliminating what the company calls “ghost consumption.”
“Consert’s technology connects homes and small businesses through existing communications networks, enabling utilities to balance electricity demand, increase energy efficiency and drive consumer savings,” said Kevin Skillern, managing director of venture capital at GE Energy Financial Services,
Consert sells the product to electric companies. It also works with power companies to improve their reliability and incorporate renewable energy sources.
The company is hiring and its Web site lists nine openings.
Tags: Consert Inc., Constellation Energy, financing, GE Energy Financial Services, NC, smart grid tech, Verizon Ventures
Posted in Carolinas, Energy, IT, Money, North Carolina | Comments Off
Tuesday, June 29th, 2010
 SOUTHEAST – Salient Federal Solutions of Fairfax, VA, information technology and engineering solutions company, founded in partnership with Frontenac Co., a private investment firm, has acquired SGIS, a federal government contracting firm, from Skillstorm. The firm says the acquisition supports the company’s aggressive growth plans to build a world-class federal IT and engineering solutions company.
Financial details were not disclosed.
San Diego, CA-based SGIS provides innovative technology-focused services and solutions in the following areas: information technology solutions, intelligence solutions, engineering, training and logistics services, and cyber security solutions with its primary focus on the intelligence community and Department of Defense markets.
Lifeforce Cryobank Sciences aquires assets of Cryobanks International
ALTAMONTE SPRINGS, FL – Lifeforce Cryobank Sciences Inc., a Delaware based corporation founded in 2009, has obtained the assets of Cryobanks International Inc., an umbilical cord blood and stem cell technology company located in Altamonte Springs, FL, and will continue all stem cell related operations at that location as Lifeforce Cryobanks, a Division of Lifeforce Cryobank Sciences Inc. Financial details of the deal were not disclosed.
Growth Technologies International buys BulovaTech Labs
TAMPA, FL – Growth Technologies International, Inc. (Pink Sheets:GRWT), has closed on its acquisition of BulovaTech Labs from Bulova Technologies Group. No financial details were disclosed.
Growth Technologies International Inc. focuses on disruptive technologies in the fields of defense, alternative energy, alternative healthcare, healthcare information, and construction and building materials.
In connection with the LABS acquisition agreement, the Company granted Bulova Technologies Group, Inc. a first right of refusal with respect to defense technologies.
The technologies are concentrated in the following fields:
Defense
Alternative Energy
Alternative Healthcare
Healthcare Information
Construction and Building Materials.
Tags: Acquisitions, defense, Florida, Growth Technologies International, IT, Lifeforce Cryobank Sciences, Salient Federal Solutions, stem cells, Virginia
Posted in Acquisitions, Florida, Government/Defense, IT, Potomac, Virginia | Comments Off
Tuesday, June 29th, 2010
 CHAPEL HILL, NC – To promote investment in clean energy, the U.S. Department of Energy has awarded $2.2 million to a national team that includes the Environmental Finance Center at the University of North Carolina at Chapel Hill and teams in DC and Kentucky.
Other members of the team are the Center for Climate Strategies (team leaders), and Ballard Spahr law firm, both based in Washington, D.C.; Northcross, Hill and Ach law firm in San Rafael, Calif., the University of Delaware Center for Energy and Environmental Policy in Newark, Del.; and the E.P. Systems Group in Covington, Ky. The project began in April and will continue through December 2012.
The group will provide technical assistance services to state and local recipients of 2009 American Recovery and Reinvestment Act funding through the Energy Efficiency and Conservation Block Grant and State Energy Program funds. The UNC center is coordinating this effort on behalf of the nationwide Environmental Finance Center Network.
To date, it has worked with the state governments of North Carolina, Hawaii, Missouri and Wisconsin and the municipal governments of Asheville, Charlotte and Greensboro, N.C.; Knoxville, Tenn., and Los Angeles, among others.
Although governments can use existing financing strategies to adopt clean energy projects in local communities, the process can be complex. The Environmental Finance Center helps local governments navigate the unique laws of their area and the requirements of local stakeholders. The center also identifies ways to leverage their efforts through private investment or projects that can recirculate funding, such as revolving loan programs that promote job creation.
Tags: Ballard Spahr, Center for Climate Strategies, Covington, DC, DOE grant, Environmental Finance Center, KY, Systems Group, UNC Chapel Hill
Posted in Carolinas, Energy, Government/Defense, Kentucky, Money, North Carolina, Other SE, Potomac, Washington, DC | Comments Off
Tuesday, June 29th, 2010
 PALO ALTO, CA – Elevation Partners has invested $120 million in Facebook stock, according to TechCrunch.
The report says Elevation purchased an additonal 5 million shares for $120 million on the secondary market.
Seven months ago, Elevation bought 2.5 million shares for $90 million.
Some reports suggest this may quell rumors about a looming Facebook IPO.
Recent reports pegged the social network’s profits at $800 million last year, a tidy sum by any reckoning.
Despite the fracas over privacy issues and the company’s messing with its interface, Facebook continues to grow, something evident to any regular users. We see new people signing up everyday, although we have noticed that less than a tenth of our rural high school graduating class has thus far become members.
Contact Tech Journal South Editor and writer Allan Maurer: Allan at TechJournalSouth dot com.
Tags: Elevation Partners, facebook, financing, Internet/New Media
Posted in Internet/New Media, Money, Viewpoint | Comments Off
Tuesday, June 29th, 2010
 BETHESDA, MD – Pervacio Inc., a company selling mobile device management software and services, has raised $3.6 million of a $5.3 million offering, according to a regulatory filing. The offering includes equity and conversion of debt into stock.
Founded in 2004, Pervacio raised a $500,000 first round. Founders Sanjay Kanodia, CEO and Alex Chernyakov are veteran software executives.Investors include Bethesda-based Vital Financial and Massachusetts-based Long River Ventures.
The company’s Revolution Device Management Platform is comprised of 13 individual products and 27 features, services and agents delivered over a Web interface. It is a device and network agnostic solution, and supports Windows Mobile, Palm OS, Windows Laptops, BlackBerry, Symbian, Android & iPhone based devices, while the server component runs within a SaaS environment.
With the explosion of smartphone use in companies, we suspect that Pervacio is poised to do well. According to news releases on its Web site, it weathered the economic downturn well.
Contact Tech Journal South Editor and writer Allan Maurer: Allan at TechJournalSouth dot com.
Tags: Alex Chernyakov, Bethesda, financing, Long River Ventures, Maryland, mobile device management, Pervacio, Sanjay Kanodia, telecom, Vital Financial
Posted in Internet/New Media, IT, Maryland, Money, Potomac, Telecommunications | Comments Off
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