SWITCH Materials closes $7.5M in Series B

Almost missed this financing announcement last week.

Burnaby’s SWITCH Materials Inc., an advanced materials company developing energy saving SMART window solutions, raised $7.5 Million in Series B financing. The Business Development Bank of Canada (BDC Venture Capital) led the investment, with participation from existing investors GrowthWorks, Pangaea Ventures and Ventures West.

Proceeds will be used for continuing R&D and to complete product commercialization.

A timely raise as SWITCH was the recipient of the Best Early Stage Company award in the Cleantech & Advanced Technology category at the 2009 Canadian Financing Forum.

The 2010 Canadian Financing Forum is next week in Vancouver.