Genoa Color Technologies Secures Additional Round of Financing

Genoa Color Technologies Secures Additional Round of Financing

ColorPeak(TM) Developer Gets $5 Million From Vertex Venture Capital

HERZLIYA, Israel, June 15 /PRNewswire/ -- Genoa Color Technologies, a developer of innovative next generation color technologies, announced today the closing of a $5 million round of financing. Vertex Venture Capital led the round that included existing investors.

Genoa, an Israeli startup whose ColorPeak(TM) Multi-Primary Color (MPC) television display system was honored by Popular Science magazine as 2004's best new home entertainment technology, has recently been granted its first U.S. patent for that innovation.

"Vertex strengthens our investor group," said Ilan Ben-David, Genoa's co-founder and CEO "There is a good fit between our business and the Vertex network and its understanding of the markets in the Asia Pacific region."

The company will use the additional capital to accelerate the arrival of displays integrating ColorPeak(TM) MPC to the market and to further expand its team support of customers in Asia.

"The production of flat panel displays, especially LCD TVs, is one of the fastest growing industries," said Yoram Oron, founder and managing partner of Vertex Venture Capital. "We believe that Genoa can become the market leader in improving the viewing experience of consumers using the new displays. We were impressed by the technical and commercial achievements of Genoa and its management team."

About Genoa Color Technologies

Genoa Color Technologies develops technologies to significantly enhance the image quality of a wide range of displays. The company supplies chips to major electronics companies for integration into their product lines. Genoa's R&D is based in Herzlia, Israel, and the company is supported by VCs and private investors. For more information about Genoa, please visit http://www.genoacolor.com/

Source: Genoa Color Technologies

CONTACT: Mark Bruce of HiTechPR, +1-914-967-6932 Ext. 200,
mbruce@hitechpr.com, for Genoa Color Technologies

Web site: http://www.genoacolor.com/
http://www.hitechpr.com/

-------
Profile: intent