SANTA CLARA, Calif., April 14, 2008 (PRIME NEWSWIRE) -- Redfern Integrated Optics, Inc. (RIO), the leading developer and manufacturer of high-performance low-cost transmitters for the fiber optic sensing and communication markets, today announced that it has secured an additional $7.5 million in funding. Led by Southern Cross Venture Partners, the round also included Tallwood Venture Capital and Jolimont Capital as investors.
In connection with the new equity financing, Dr. Larry Marshall, managing director at Southern Cross Venture Partners, joined RIO's board of directors. "We are very pleased to be working with the RIO team and with the other investors in RIO. Current market dynamics make the company an exciting opportunity," he remarked.
RIO's narrow line width and low-noise laser product series released in January 2008, combines high performance comparable to fiber lasers with simplicity, small size, low-power dissipation, stability, insensitivity to vibration and high reliability. These attributes make RIO's laser the ideal "set-and-forget" solution for a majority of fiber optic sensing systems that support market segments which are poised to enter a stage of high growth, driven primarily by energy industry and security applications.
"We continue to successfully execute RIO's business plan and strategy while maintaining our commitment to providing the preferred laser source solution for fiber optic sensing applications," said Dr. Radu Barsan, chairman, president and CEO of RIO. "This additional financing will allow us to deliver products and support of unsurpassed value to our customers worldwide."
This week at the 19th Optical Fiber Sensing Conference in Perth, Australia (April 14-18, 2008), RIO will be showcasing its products and also presenting a paper entitled, "Low Noise Planar External Cavity Laser for Interferometric Fiber Optic Sensors."
About RIO Inc.
Redfern Integrated Optics, Inc. (RIO) develops and manufactures optical transmitters based on its proprietary planar external cavity laser technology (PLANEX(tm)), which delivers unique price-performance advantages in multiple markets. RIO's product lines include 1550nm CW narrow-line width lasers and long-reach 2.5-10 Gbps directly modulated TOSAs, with DWDM wavelength stability, at low cost, small size and with low power dissipation. For more information, please visit www.rio-inc.com.