"Pressure Sensors to Improve Engine Performance"

   

Contact: Robert Chalfant

Chalfant@ComSenseTech.com

ComSense Technology Inc.

4415 Euclid Avenue

Suite 525

Cleveland, OH 44103

Phone 216-649-0348

Fax 216-649-0347

www.ComSenseTech.com

April 28, 2005

Bright Ideas Identified: JumpStart Inc. Announces Investment in ComSense Technology, Inc.

 

Cleveland - CLEVELAND -- JumpStart Inc., Northeast Ohio's entrepreneurial development and funding organization, announced an investment in ComSense Technology, Inc., (www.comsensetech.com) a manufacturer of innovative high temperature pressure sensors for harsh environments that enable more precise control of diesel, gasoline, and turbine engines resulting in improved fuel efficiency and reduced emissions. ComSense has qualified for $325,000 in this round of funding.

ShoreBank Enterprise has also committed $250,000 to the organization. 'We are excited about our investment in ComSense,' said JumpStart CEO Ray Leach. 'We believe that this company has great potential to succeed and along the way create new jobs in Northeast Ohio and leverage our region's expertise in sensor technologies.' 'We got interested in this deal when we started to learn about the technology,' said Barbara Nagy, Senior Vice President, Enterprise Finance Funds, ShoreBank Enterprise. 'The potential for wealth creation, job creation across skill levels, and environmental impact make this an ideal company for us to invest in.'

'JumpStart is smart money because of the ongoing experienced management support they provide,' said Robert Chalfant, President of ComSense Technology, Inc. 'I'm really looking forward to working with Mozelle Jackson, who will be my Executive-In-Residence. She's been a CEO and knows about a lot of problems I could run into - because she's already solved them.'

JumpStart's previous investments include Ayalogic, Inc., Day-Day, Ltd., Embrace Pet Insurance, PreEmptive Solutions, Inc., and Stanton Advanced Ceramics. JumpStart has received approximately 300 applications for funding since its founding in January of 2004. The next deadline for submitting business plans is July 1, 2005.

About ShoreBank Enterprise
ShoreBank Enterprise (www.shorebankenterprisegroup.org) is a nonprofit community and economic development organization with a mission of investing in people and their communities to create economic equity and a healthy environment. It supports business start-up and growth, job creation through access to capital, workforce recruitment and retention, and other business development services as part of its comprehensive approach.

About JumpStart Inc.
JumpStart (www.jumpstartinc.org) accelerates the growth of early-stage businesses and ideas into venture-ready companies by delivering vital, focused resources to entrepreneurs in Northeast Ohio. JumpStart identifies and invests in early-stage companies that have strong potential in the marketplace, solid prospects for high growth, and are likely to qualify for later-stage funding. Beyond investing, the JumpStart team provides a continuum of business development services to its client companies to help ensure their success.

Founded by Case Western Reserve University and NorTech, the JumpStart board, executive management group, and staff include experienced entrepreneurs, investors, and representatives from each public university in Northeast Ohio.
 

 

 

www.ComSenseTech.com  | Updated 05 May 2005
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