Growth and Expansion

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NovaSol has experienced phenomenal growth since its founding in late 1998. The company began with a small incubator facility at the Manoa Innovation Center in Honolulu and a borrowed office in San Diego. Today, NovaSol's facilities comprise 12,000 square feet of corporate and technical offices and laboratories at the Pacific Guardian Building 733 Bishop Street in downtown Honolulu, a 3,000-square-foot optical center in San Diego, and a real-time software and systems analysis center in Los Angeles.

Revenue grew by 2,000 percent from the first year to the third, and revenue continues to increase at a rate of about 20 percent annually. NovaSol has been profitable since the second quarter of its second year. Employment growth has been significant with a current staff of more than 50 in Hawaii and more than 65 company-wide. NovaSol is particularly proud to have achieved this expansion without relying on outside equity capital or debt financing.