SOURCE: Velocity Financial Group

Velocity Financial Group

May 20, 2010 11:02 ET

Velocity Financial Group Provides Financing for Alphion®

BOSTON, MA--(Marketwire - May 20, 2010) -  Velocity Financial Group, Inc. announced today the close of a venture debt facility to Alphion® Corporation, a developer and manufacturer of optical communications access systems and components. Alphion is headquartered in Princeton Junction, NJ and is backed by Tallwood Ventures, Narra Ventures and ICCP. 

Alphion's carrier-class Gigabit Passive Optical Network ("GPON") systems enable a full range of Fiber-to-the-Premises ("FTTP") triple play services for homes, small businesses and multi-dwelling apartments. The PON.ext™ utilizes the Company's proprietary Qlight® technology platform to dramatically extend the reach and bandwidth of existing passive optical networks. Alphion's PON.ext™ technology reduces carrier operating expenditures by as much as 60%, while providing nine times more service coverage from existing infrastructures.

"Alphion is a welcome addition to our portfolio," said JP Marchette, Principal of Velocity. "The Company's carrier-class PON.ext™ technology can extend the length between network endpoints by 300% while servicing up to 400% more users per network port. Alphion's suite of GPON products is critical to servicing the tremendous growth in global data traffic, which has been validated through Alphion's selection by leading international carriers such as BSNL."

"We have found a great long-term financing partner in Velocity that shares our passion for success," said Dr. Bharat P. Dave, Chairman, President & CEO of Alphion. "The entire team took the time to learn about our business as well as our mission to solve acute infrastructure pain points for major global carriers. As a result, Velocity customized a facility designed to help support our specific capital requirements as we continue our rapid growth. The Velocity team ran a thorough yet efficient due diligence process which allowed us to continue to focus on our day to day operations."

About Velocity Financial Group: Velocity Financial Group, Inc. (VFG) is a specialty finance company formed to serve middle-market and venture-backed companies. VFG's Ventures division is dedicated to helping entrepreneurs by providing less dilutive, more flexible forms of capital. With offices in Boston and Silicon Valley, VFG's Ventures Group has built a broad client base consisting of technology, life sciences and clean energy companies. Clients range from pre-revenue companies with dedicated entrepreneurs to late stage, proven businesses seeking more efficient growth capital. VFG is backed by a diverse group of global financial institutions. For more information, please visit www.velocityfg.com.

About Alphion Corporation: Alphion Corporation develops, manufactures and markets communications systems, subsystems, integrated and discrete photonic components based on its proprietary QLight® technology platform. Alphion products are sold world wide to service providers and OEMs in the Fiber-to-the-Premises (FTTP), telecommunications, CATV, fiber optic sensing, test & measurement, medical imaging, and defense system markets. Alphion offers a growing line of broadband access products, which support complete end-to-end GPON network solutions. The AOLT-4000 Optical Line Terminal, AONT-1000/2000/3000 Optical Network Terminal family, and Passive Optical Splitter family are in full compliance with the International Telecommunications Union's standard for GPON equipment (ITU-T G.984). This ensures that the Alphion product family meets the stringent carrier-class requirements and interoperates with a broad spectrum of other manufacturers' GPON equipment. Alphion is member of both FSAN (www.fsanweb.org) -- a consortium of carriers and equipment suppliers developing tomorrow's broadband network standards and the ITU (www.itu.int). For more information please visit www.alphion.com.

Contact Information

  • Contact Information:
    Leah Toussaint
    Velocity Financial Group
    781.486.6600
    Email Contact