Friday, February 20, 2009

COPAN Claims Strong Demand

Longmont, Colorado-based COPAN Systems is claiming this year that it had "strong results" for the year, fresh off a $18.5M venture capital round, saying Thursday that it had a 40 percent sales increase for 2008. Actual financial results for the privately held firm were not announced. The firm said it expects "to continue to see strong demand" for the firm's technology through 2009 and beyond, attributing the outlook to efforts by companies to reduce costs and energy consumption. COPAN develops power-optimized storage hardware, which use disk drives for backup and archival storage. The hardware powers down disks drives when not in use, saving a significant amount of power. COPAN said it now has over 250 installs worldwide, in the healthcare, media & entertainment, technology, financial services and government areas.