Block Engineering Announces Major Equity Investment
Marlborough, MA – April 4, 2011
Block Engineering, a leading developer of Quantum Cascade Laser (QCL) based spectrometers, announced today that Michael L. Bickford, of Vero Beach, Florida, has made a major equity investment and has become a Director. Daniel J. Cavicchio, Jr., Executive Chairman, said: "I am very pleased that Michael has decided to join our company. Block is now positioned to expand its commercial markets and is prepared for rapid growth, which fits with Michael's investment objectives. In addition to bringing growth capital, Michael brings significant business experience and expertise in spectroscopy markets."
Petros Kotidis, CEO, commented, "In the past few years we have won over $17 million in government product development contracts for microelectromechanical and QCL based spectrometers to detect chemical agents and explosives for the Department of Defense. However, we needed private investment funds to take these next generation technologies into billion dollar commercial markets. Michael's investment will go a long way toward developing these commercial applications and achieving our business growth plans."
Michael Bickford added, "Block has developed core technologies that are on the cutting edge and is receiving orders for its new QCL based products. Block has the management team and engineering professionals that are critical to make significant contributions to the pharmaceutical, chemical, medical, and semiconductor industries, as well as defense, security and public safety. I am most interested in the contributions Block is making to improvements in our lives, and I look forward to a prosperous partnership with Block Engineering."
About Block Engineering:
Founded in 1956, Block Engineering is a leading developer of high performance Quantum Cascade Laser (QCL) and FTIR spectrometers for chemical detection and analysis to military, government, commercial, and industrial customers. Block's Mobile Chemical Agent Detector (MCAD) system, a fixed site, passive FTIR spectrometer offered in partnership with Northrop Grumman Corp., and PORTHOS™, a portable, passive FTIR spectrometer system, remotely detect chemical threats as far as 3 miles and protect against chemical warfare agents and weapons of mass destruction. Following the success of those products, Block has applied its extensive knowledge of spectroscopy and chemical detection towards the commercialization of its high performance QCL based spectrometers, such as the LaserScan™ Analyzer. In addition, Block is developing a revolutionary MEMS-based, miniaturized spectrometer, the ChemPen™, which is a low cost, FTIR chemical gas detector the size of a fountain pen.