VALHALLA, N.Y., Sept. 30, 2008 (GLOBE NEWSWIRE) -- Advantage Capital Partners, a leading venture capital and small business finance firm, has made an investment in SOMS Technologies LLC, the manufacturer of the microGreen(tm) vehicle engine oil filter. The microGreen filter is a "green" product that utilizes a patented filter technology designed to keep engine oil cleaner, extending the oil life up to 30,000 miles. The funding will be used to support the company's continued growth.
"This financing comes at a crucial time, as we prepare to expand our marketing and sales efforts," said Miles Flamenbaum, CEO of SOMS Technologies. "Advantage Capital's investment will enable our company to continue to grow, helping more customers save time and money on their oil changes. Our microGreen oil filter helps customers protect the environment by reducing oil consumption and the generation of hazardous waste."
The microGreen Extended Performance Oil Filter has a patented design that provides two filters within a standard spin-on filter canister. It has the same specifications as a conventional oil filter; therefore, it does not require any modifications to the engine, nor does it affect the vehicle warranty. By continuously filtering a small portion of the engine oil through the patented microfilter system, the microGreen filter allows a vehicle to operate up to 30,000 miles without changing the engine oil. The microGreen filter reduces oil use by 70 percent and filter use by 50 percent, providing end users with economic and environmental value. To learn more about the benefits of this new product, visit www.microgreenfilter.com.
"The microGreen oil filter is revolutionizing the oil change process," said Scott Murphy, Advantage Capital managing director. "The microGreen filter is one of those unique "green" products that helps the environment and saves money."
Advantage Capital's investment was raised in connection with New York's Certified Capital Company program, which encourages the flow of investment capital to promising companies located in the state. A total of 20 new jobs are expected to be created as the company grows.
About Advantage Capital Partners
Advantage Capital Partners (www.advantagecap.com) is a venture capital and small business finance firm focused on early stage companies and other investments supporting state and local economic development. With offices in New York, Louisiana, Missouri and other states, Advantage Capital has raised more than $1 billion in capital since 1992 and invested in companies located in geographic areas underserved by traditional venture capital.
About the Certified Capital Company program
Advantage Capital Partners is a leading participant in the Certified Capital Company (CAPCO) program, a state economic development tool designed to strengthen state economies by stimulating the flow of investment capital to local small businesses, creating high-paying jobs and increasing state tax revenues. For more information, visit http://www.advantagecap.com/state_investment_programs.htm.