NMCC Invests in TruTouch Industries, Inc.
November 10, 2005
Albuquerque, NM - New Mexico Community Capital announced today that it has made its second investment since the close of its fund last May. NMCC was part of a consortium of investors in TruTouch Technologies, Inc., an Albuquerque-based company that has developed a non-invasive blood-alcohol testing device based on near infrared spectroscopy, which also features biometric identity verification capabilities.
The TruTouch value proposition is a faster and less expensive method for blood-alcohol monitoring, which will allow testing to become more widespread and readily available in the law enforcement, workplace and transportation industries. Follow-on products may include touch-based, driver-specific, non-intrusive ignition interlocks.
"NMCC is excited to put our capital to work for a company that can truly increase the health and safety of our communities," says Tom Keleher, NMCC's Managing Director. "We believe the device will provide an effective method for reducing drunk-driving which has had a devastating effect on so many people. The technology may enable the monitoring of alcohol levels in school bus drivers, heavy equipment operators, etc. which will increase worker and public safety."
NMCC was a co-investor in a consortium of investors lead by Albuquerque-based venture fund Verge and included Flywheel Ventures and Fort Washington Capital Partners.
About NMCC:
New Mexico Community Capital was formed in late 2004 by business and community leaders to provide equity capital and management resources to qualifying businesses throughout New Mexico, particularly in rural and underinvested areas. The objectives of the fund are to stimulate job growth, strengthen local economies, enhance the entrepreneurial capacity of business owners, and generate attractive returns for our investors in order to increase the available pool of capital for future investment.