DDD raises $10m for 3D TV
SANTA MONICA, Calif. (January 15, 2002) – DDD Group Plc (AIM:DDD) raised US$10 million and commenced trading on the UK’s Alternative Investment Market on January 3, 2002. Lead investors include Schroder Investment Management and Merrill Lynch.
DDD’s TriDefTM 3D TV enables 3D viewing without glasses. Available since June 2001, applications have included advertising, entertainment, oil and gas exploration, military visualization and 3D visualization.
“The fact that we were able to raise $10 million in such a difficult environment for capital markets is a testament to the strength of both our technology and our strategy to bring 3D TV to the mass market,” said Chris Yewdall, President and CEO of DDD. “We identified AIM as the best market for us in order to capitalize on international financing opportunities.”
AIM is the London Stock Exchange’s market for growth companies, with over 600 listed companies and a total market capitalization in excess of US$15 billion. Trading of DDD has been strong, with a gain of 26 percent after the first week of trading.
In November 2001, TriDef debuted in the consumer marketplace at Wherehouse Music in West Hollywood, and was also used over the holidays by the Venetian Hotel in Las Vegas to promote its Theaters of Sensation 3D motion adventure rides. TriDef has been in use on trade show floors since December 2000, by companies including Motorola, Intel and Pioneer.
DDD is transforming television with glasses-free 3D TV. Its patented technologies enable 3D viewing without glasses; supply of 3D content through 2D to 3D conversion; and 3D transmission over existing networks.
Michelle LaPaglia, Communications Manager