“ In a very difficult funding environment, this financing reflects the customer traction and technical progress that has been made at FLX,” said Bob Lynch, President and CEO. “The funds will be used to further commercialize silicon carbide micromachining by porting the process developed at Case Western Reserve University to an additional MEMS fabrication facility. We also plan to add product engineers to allow us to leverage our proprietary processes at the product level in close collaboration with our established customer base.”

“We were attracted to the FLX opportunity based upon its strong management team, which has substantial entrepreneurial experience,” stated Curtis Crocker, Managing Partner of Reservoir Venture Partners. “We were also impressed by the value proposition of their innovative technology platform, which has the potential to significantly alter the playing field in a wide variety of large and growing markets.”