Innov-X Systems - Innov-X Systems Receives Investment from Mass Capital Resource Company

Store this angel in big sizeWOBURN, MA - June 23, 2009 – Innov-X Systems, Inc., a arch provider of basal analyzers to the industrial, transportation, security, environmental, recycling and activity markets, today appear that it has accustomed an investment of $4,500,000. Massachusetts Capital Resource Company (MCRC) led the investment with accord from Rand Capital (NASDAQ: RAND) of Buffalo, NY and added absolute investors. For added than 30 years, MCRC, a clandestine investment aggregation has provided balustrade basic and abiding debt to baby and average sized businesses with operations in Massachusetts.

Founded in 2001, Innov-X is a avant-garde in the development of carriageable X-ray fluorescence (XRF) technology for basal analysis. Innov-X is a abreast held, profitable, and growing close that operates worldwide, with offices in North America, Europe, Australia and Asia. Innov-X’s articles use XRF technology to bound actuate the actinic agreement of a substance, thereby anecdotic the actuality of adorable or abominable elements. Innov-X’s analyzers accept been acclimated for a advanced array of applications, alignment from admixture and fluids analysis, mining and mineral exploration, ecology website investigation, nuclear non-proliferation and chump artefact screening.

The company’s articles are aswell frequently acclimated in manufacturing, compliance, and oil and gas formulation. Innov-X apparel the maritime, oil and gas analysis and distribution, and ability industries with XRF systems for optimal use and ecology of fuels and lubricants.

“Innov-X’s mission from the alpha has been to ascertain new means to administer carriageable XRF technology. Our activated avant-garde articles accept accustomed the aggregation to become a baton in our industry,” said Don Sackett, CEO & President of Innov-X. “We are captivated to accept MCRC as an broker and attending advanced to a connected amplification of our artefact line, including added top achievement XRF articles featuring our patented diffractive eyes technology.”

“We are aflame to acceptable Innov-X to Mass Capital’s ancestors of arch technology companies,” said Kenneth J. Lavery, Vice President of MCRC. “Innov-X has the appropriate alloy of research, different technology, and all-around ability to abide its able-bodied growth.”

About Innov-X Systems
Innov-X Systems is a all-around baton in rapid, real-time, non-destructive on-site XRF measurements. Their abounding apartment of on-site XRF articles provides top achievement basal appraisal for Mg thru U, ppm to 100%. Innov-X Systems has the across of XRF acquaintance and ambit of artefact offerings to accommodate field-hardened, top achievement XRF systems for around any area and basal measurement. Innov-X Systems is a aboriginal chic all-around account alignment with common operations, sales, and service. Headquartered in the U.S. with R&D and accomplishment facilities, they accept offices in Europe, Asia and Australia. In addition, sales and account (including accession & training) is accessible in over 100 countries.

More aggregation advice is accessible at www.innovx.com/copr.

About MCRC (Massachusetts Capital Resource Company)
Massachusetts Capital Resource Company was accustomed in 1977 as a bound affiliation abreast endemic and adjourned by Massachusetts-based activity allowance companies. The Company’s mission was to actualize a antecedent of accident basic to ample the chief debt to disinterestedness allotment “gap” accomplished by growing companies. Their investment action complements, rather than competes with, the costs provided by chief lenders and disinterestedness investors. Mass. Capital provides college accident advance and accretion basic to manufacturing, distribution, account and technology companies. They focus on arising advance and average bazaar companies with operations in Massachusetts. Their investments are structured to fit the specific needs of portfolio companies and to accompaniment allotment accessible from chief lenders and disinterestedness investors.
More aggregation advice is accessible at: www.masscapital.com/company

Innov-X Systems
100 Sylvan Road, Suite 500
Woburn, MA 01801 USA
781 938 5005 (ph)
781 938 0128 (fax)
www.innovx.com

Carrie-Ann Doucette
Director of Corporate Marketing Communications
cdoucette@innovx.com