SOURCE: Blue Ridge Numerics

May 04, 2006 08:15 ET

Blue Ridge Numerics Receives Strategic Working Capital Investment

Company to Continue Rapid Growth in Upfront CFD Market

CHARLOTTESVILLE, VA -- (MARKET WIRE) -- May 4, 2006 -- Blue Ridge Numerics, Inc., the fastest growing CFD software company in the world, today announced it received a significant infusion of working capital from the Global Environment Fund ("GEF"). The funds will be used by the company to further expand sales and marketing efforts worldwide and to support research and development of CFdesign® upfront CFD software.

"Today's financial investment along with the on-going strategic support of GEF provides Blue Ridge Numerics the working capital and resources necessary to fully realize our business mission," stated Blue Ridge president, Ed Williams. "Today we are better positioned to accelerate the rate of innovation to benefit our customers and to capitalize on future opportunities such as acquisitions and a public offering."

"Blue Ridge Numerics impressed us with its legacy of self-funded, profitable growth," stated H. Jeffrey Leonard, President and CEO of GEF. "Our research indicates the Upfront CFD market is still in its infancy and Blue Ridge has the vision, technology and personnel to sustain long-term leadership within this high-growth industry."

About Blue Ridge Numerics

Blue Ridge Numerics (www.cfdesign.com) puts comprehensive fluid flow and heat transfer simulation upfront in the product development process where it creates tremendous value for small, medium, and large companies around the world. Our rapidly growing global customer list includes leaders in major vertical industries including aerospace, appliances, automotive, electronics, food & drug, HVAC, material processing, medical, military & defense, plumbing, and power generation.

First introduced in 1992, our unique Upfront CFD vision, supported by the proprietary CFdesign technology platform, saves customers money and time by reducing the amount of wind tunnel and flow bench testing necessary to validate new designs. Listed on the Inc. 500 and Deloitte Technology Fast 500, Blue Ridge Numerics is one of the fastest growing technology companies in America and the fastest growing CFD software company in the world.

About GEF

Global Environment Fund (www.globalenvironmentfund.com) is an international investment firm that manages private equity funds totaling approximately $800 million. GEF's limited partners include prominent endowments, foundations, family offices and pension funds.

Contact Information

  • Contact:
    Jim Spann
    Vice President, Marketing
    434.977.2764 ext.120