MGCC Announces Support for Auriga Microwave

PRESS RELEASE

CONTACT   Karen Brann, MGCC
617 – 523 - 6262 Ext. 221

Massachusetts Growth Capital Corporation Announces Support for Auriga Microwave

MGCC provides capital and advice for small businesses to create and retain jobs in Massachusetts

Lowell, MA – June 15, 2011 – The Massachusetts Growth Capital Corporation (MGCC) announced today that it provided a new credit line for working capital purposes to Auriga Measurement Systems (dba Auriga Microwave) of Lowell, Massachusetts

“Auriga is a great company with extra ordinary leading-edge technology in high-performance RF amplifiers and customized component test systems for use in military and commercial application. With a new management team and a sharp focus, it has successfully navigated the difficult economic environment, made the tough choices, and has achieved consistent profitability over the last seven quarters. MGCC is pleased to provide a credit line that will help the company continue its strong growth and attract private sector financing going forward.” Charles T. Grigsby, MGCC Interim President.  

Moosa E. Moosa, Auriga’s Chief Financial Officer said, “The financing from the Massachusetts Growth Capital Corporation has provided Auriga with the working capital necessary to continue its growth and will allow us to create the new jobs necessary to support our development strategies. The MGCC is a perfect example of the type of organization that is needed to support small businesses in Massachusetts. We are pleased to be associated with the organization."

Founded in 2004, Auriga Microwave designs and supplies customized high-power and high-efficiency microwave systems focused on radar and mobile communication systems. Auriga also designs and supplies custom test systems that radically changes the dynamics of making complex, multi-state RF measurements. The Company is committed to being the international leader in designing and manufacturing innovative RF/microwave solutions. At Auriga, we push the limits of science and technology to surpass the performance goals of our customers. Since its launch, the Company has 10 patents created by Auriga Microwave personnel.

The Mission of Massachusetts Growth Capital Corporation is to provide capital to Massachusetts small businesses, women and minority owned businesses and local development efforts, in flexible financing programs, by supplementing the capital available from private financial institutions, including non-bank lenders, in order to promote the creation and maintenance of good jobs for Massachusetts residents.

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