Fri, Mar 17, 2006
Increased Demand for Aviation Safety Using EVS Drives Company
Momentum
Max-Viz has completed its third
round of financing totaling $6 million. Proceeds will be used to
accelerate growth in the company's Enhanced Vision Systems (EVS)
product line for fixed and rotary wing corporate, commercial,
military and transport aircraft.
The Series C venture financing was led by OVP Venture Partners
(OVP) and included returning investors Alexander Hutton Venture
Partners (AHVP) and Buerk Dale Victor LLC (BDV). All of the
investors are based in the Pacific Northwest, an area well-known
for its innovation in aviation technology.
"Our products are focused on saving lives," said Max-Viz
President Jim Tuttle.
"Customer demand for our EVS systems for aviation safety is
accelerating. This financing round allows us to fulfill EVS market
demand on airframes already certified by the FAA for Max-Viz
products, and target more FAA certifications on additional
airframes. In addition, we are stepping up development on our
Advanced Technology Next Generation Synthetic Vision aircraft
guidance and flight environment sensing products."
Gerry Langeler, a General Partner in
OVP's Portland office and Board Chair at Max-Viz added, "It is
gratifying to back a growing company delivering products that play
such an important role in enhancing aviation safety. Once pilots
and aircraft owners see the benefits of seeing clearly with EVS, no
one wants to go back."
Max-Viz systems use real-time infrared sensors, signal
processing, and a cockpit display to provide flight crews with
actual images of terrain, runways, taxiways, aircraft and other
potential obstacles during poor visibility conditions such as light
fog, haze, smoke, precipitation and darkness.
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