Advanced Infrastructure Technologies Announces Closing of Series A Financing

ORONO, Maine, Feb. 3 /PRNewswire/ -- Advanced Infrastructure Technologies, Inc. (AIT) today announced the completion of its Series A round of financing. The funding will be used to accelerate the launch of its advanced composite arch tube technology for bridge construction. The round was led by Sandpiper Capital Management, LLC of Naples, Florida.

"We believe new technologies are critical to repairing and/or replacing over 152,000(1) deficient bridges with a more cost effective, longer lasting product compared to traditional construction," said Brit E. Svoboda, President and Chief Executive Officer of AIT.  "This funding underscores the positive response we received from the marketplace for our two prototype bridges and will enable us to begin servicing the market's demand for our highly efficient, sustainable, and safe bridges."

AIT composite arch tubes facilitate a systematic approach to bridge construction that is proven to reduce construction time, minimize the need for heavy equipment, lower transportation and labor costs, and generally eliminate the need for steel rebar inside the structure. The Company's bridges generate approximately half the carbon footprint of conventional bridge construction and are anticipated to deliver up to 2x the lifetime of today's steel and concrete bridges offering engineers a better option for both replacement bridges and new construction.

The Company's arch tubes are superstructure components that efficiently carry bridge loads. Initially, the arch tubes consist of a proprietary combination of flexible materials, including a specialized braided carbon fiber fabric. The light, compact arch assemblies are easily transported to the construction site where the arch tubes are inflated, shaped to the required geometry and infused with resin.  After the resin sets, the hardened arches are positioned on the bridge and filled with concrete. The carbon fiber tubes provide several functions – they act as a form for the concrete, they act as reinforcement for the concrete and they protect the concrete from corrosion.

"We look forward to our partnership with AIT," said Gary A. Swords, President of Sandpiper Capital Management. "This is a great example of a new technology and application that offers a cost-efficient solution to a substantial real-world problem."

"We are excited to have received this investment and sponsorship from Sandpiper Capital Management," stated Brit E. Svoboda. "Sandpiper brings a level of expertise and support that is essential at this stage in our company's development."

About AIT

AIT is revolutionizing bridge construction through advancements in technology. The Company's fully-tested, innovative, advanced-composite materials facilitate an efficient and systematic approach to bridge construction offering engineers a cost effective longer-lasting option for both replacement bridges and new construction. The Company's technology was recently featured in The New York Times and Popular Science.

To learn more, visit http://www.aitbridges.com

About Sandpiper Capital Management, LLC

Sandpiper Capital Management, LLC makes investments in private equity, real estate, debt instruments, and public securities through various funds that it manages.

To learn more, visit http://www.scmfunds.com

(1) Source: AASHTO –  Bridging the Gap, July 2008

SOURCE Advanced Infrastructure Technologies, Inc.