Continuing to build upon its evolving portfolio of technology companies, Hercules Technology Growth Capital, Inc. (NASDAQ:HTGC), today announced that on July 24, 2007, it provided $10 million of venture debt to SiCortex, Inc., a leader in the high performance computing industry.
Hercules, a leading specialty finance company providing growth capital in the form of venture debt and equity to venture capital and private equity backed technology and life science companies at all stages of development, provided the funding to expand SiCortex’s sales force as well as advance the company’s product development.
“SiCortex designed an advanced technological solution that addresses major critical issues in the high performance computing industry,” said Roy Liu, managing director at Hercules. “The market response has affirmed that the company has anticipated key drivers in the technological market and designed a world class product that recognizes those needs. Hercules is confident that this capital will lead SiCortex into a new and exciting phase of their business.”
SiCortex has introduced a new concept in high performance computing, limiting power consumption and physical size to gain performance. The company has implemented a complete cluster node on a chip, including six 64-bit processors, multiple memory controllers, a high performance cluster interconnect and a PCIexpress connection to storage and internetworking. A SiCortex cluster node consumes 15 watts of power, an order of magnitude less than the 250 watts used in a conventional cluster node. The SC5832 can perform six trillion operations per second in a cabinet that is less than one-third the size of conventional clusters.