Willamette Angel Conference announces investment in Dune Sciences
The Willamette Angel Conference has announced a new, $380,000 investment in Dune Sciences, a Eugene startup company that makes & sells an antimicrobial fabric treatment which prevents odor and reduces the spread of disease.
During the Willamette Angel Conference (WAC) held last May at the Ford Alumni Center, the group’s investors announced that a $265,000 investment would go to Energy Storage Systems (ESS). Subsequent to the Conference, ESS and WAC were unable to agree on terms in the face of other investor opportunities becoming available to ESS. As a result, the WAC will shift their investment to the equally qualified candidate Dune Sciences.
CEO Richard Geiger says, “Dune Sciences is thrilled to receive the 2014 Willamette Angel Conference investment. The WAC’s endorsement, support and their investment will be instrumental as Dune Sciences moves forward. Ultimately, this investment will protect the environment and save lives by reducing the transmission of odor and disease causing bacteria with the added benefit of promoting the economy of the Willamette Valley.”
After months of due diligence, a member vote is held prior to the May Conference to determine which company is a worthy investment.
“A virtual tie had occurred during the member vote with the tie breaker going to ESS at the time,” explains Jens Andersen, managing member of the investment group, “Dune Sciences remained an excellent investment opportunity and now, with ESS stepping aside, Dune Sciences will receive the group’s investment of $380,000.”
The new investment in Dune Sciences represents a 43% increase in the group’s original investment offering to EES, indicative of the WAC’s support for their new investment selection.
Dune Sciences is currently in the final weeks of RAIN Eugene’s 12-week accelerator program.
About the WAC
The Willamette Angel Conference is of the largest angel group in the state of Oregon. We increase the amount of seed capital and angel funds available in the Willamette Valley by connecting early-stage companies with the capital they need to grow. The 2015 Willamette Angel Conference will be held on Thursday, May 14 at the CH2M Hill Alumni Center in Corvallis, Oregon. Company applications open in December 2014.
More information about the Willamette Angel Conference can be accessed online at www.willametteconference.com or by contacting the Eugene Area Chamber of Commerce at ( 541) 484-1314.