Bridge Bank Congratulates Serious Materials on Latest Accomplishments
Company Raises $60 Million of Capital
Named Environmental Innovation Award Winner
| Source: Bridge Capital Holdings
SAN JOSE, CA--(Marketwire - September 29, 2009) - Bridge Capital Holdings (NASDAQ : BBNK ), whose
subsidiary is Bridge Bank, National Association, a full-service
professional business bank headquartered in Silicon Valley, is proud to
congratulate its client, Serious Materials, on the following significant
accomplishments:
Serious Materials recently closed a $60 million equity round of Series C
financing. The successful round was led by Mesirow Financial, a
diversified financial services firm in Chicago. Additional new investors
included Enertech Capital, Cheyenne Partners, and Saints Capital. Previous
investors including New Enterprise Associates (NEA), Foundation Capital,
Rustic Canyon Partners, Navitas Capital, and Staenberg also participated in
this funding round, bringing Serious Materials' total raised capital to
more than $120 million. The funds will be used to accelerate the rapid
growth of the company and complete development of next generation,
energy-saving building products.
"Bridge Bank has helped Serious Materials grow every step along the way,"
said Kevin Surace, CEO of Serious Materials. "They have been there for us
since the beginning, providing advice well beyond traditional banking,
adding strategy and helping us to make important connections. I can't
imagine any growing company choosing a better bank than Bridge Bank."
The company was selected to receive the 2009 Wall Street Journal
Environmental Innovation Award. From among nearly 500 applications,
Serious Materials' EcoRock product was named among the Wall Street
Journal's top innovations of this year. This award adds to Serious
Materials' growing list of achievements, including Popular Science's Best
of What's New and selection for the first Aspen Institute award for
innovation in Energy Conservation. Serious Materials has also been
recognized by TIME/CNN, Fortune, BusinessWeek, GreenTech Media, and Red
Herring as one of the most promising green technology companies.
"We extend warm congratulations to Serious Materials for recognition of the
latest in a long line of company achievements," said Daniel P. Myers,
President and Chief Executive Officer of Bridge Bank and Bridge Capital
Holdings. "Bridge Bank has a long standing commitment to support
innovation among green industry businesses and we are pleased to support
Serious Materials through their development. We look forward to supporting
their growth and success in the years to come."
About Serious Materials
Serious Materials develops and manufactures sustainable green building
materials that save energy, save money, improve comfort, and aggressively
address climate change. Super-insulating full-frame R-value
SeriousWindows™ reduces heating and cooling energy costs by up to 50%.
SeriousGlass™ super-insulating commercial glass has been installed in
over 10,000 projects and offers the highest energy savings in the industry.
QuietRock® soundproof drywall reduces material use, enhance livability,
and support dense urban construction. EcoRock™, the only true green
alternative to gypsum drywall and five times more environmentally friendly,
uses 80% less energy in its core production and has the potential to save
billions of pounds of CO2 annually. Serious Materials products are
manufactured in the company's five facilities across North America.
SeriousWindows and SeriousGlass support energy efficiency funding programs
as outlined under the American Recovery & Reinvestment Act (ARRA) including
Weatherization (WAP), Green Federal Buildings, State Energy Program (SEP),
Energy Efficiency - Conservation Block Grants, Energy Tax Credit for
Consumers, and Tax Deductions for Commercial Buildings. The company was
commended by both President Obama and Vice President Biden for its advanced
energy-saving materials and the work it is doing to re-create American
green manufacturing jobs. For more information, visit
www.SeriousMaterials.com.
About Bridge Capital Holdings
Bridge Capital Holdings is the holding company for Bridge Bank, National
Association. Bridge Capital Holdings was formed on October 1, 2004 and
holds a Global Select listing on The NASDAQ Stock Market under the trading
symbol BBNK. For additional information, visit the Bridge Capital Holdings
website at www.bridgecapitalholdings.com.
About Bridge Bank, N.A.
Bridge Bank, N.A. is Silicon Valley's full-service professional business
bank. The Bank is dedicated to meeting the financial needs of small and
middle-market businesses in Silicon Valley, Northern California, and the
Nation. Bridge Bank provides its clients with a comprehensive package of
business banking solutions delivered through experienced, professional
bankers. For additional information, visit the Bridge Bank website at
www.bridgebank.com.
About Bridge Bank Technology Banking Division
The Bridge Bank Technology Banking Division serves venture and non-venture
backed companies from inception to IPO. The Division's product offering
includes growth capital loans, equipment and working capital financing,
along with a full line of treasury management solutions, International
products and services, and financing secured by domestic, government, and
foreign receivables. In today's virtual world, you can count on Bridge
Bank for responsive and personalized service anywhere you do business.
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in general economic, real estate and financial market conditions, either
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