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At the beginning of August, Group IV Semiconductor Inc of Ottawa, Canada received a ‘substantial’ new round of investment. The round was led by Montreal-based Garage Technology Ventures Canada together with Applied Ventures LLC (a subsidiary of process equipment maker Applied Materials Inc of Santa Clara, CA, USA), plus existing investors including Khosla Ventures of Menlo Park, CA, USA and Canada-based BDC Venture Capital. The funding will further expand Group IV’s program to develop its silicon-based nanofilm light-emitting technology, which use a single-chip, AC-powered process intended to reduce the cost of solid-state lighting.
“Group IV fits our model of identifying true innovation that has the clear potential to materially impact or redefine existing or emerging markets,” says Tom Sweeney, managing director and general partner of Garage Technology Ventures Canada.
“Our vision is to create silicon-based light engines - many times more efficient than conventional bulbs and much more economical than today’s LED alternatives,” says CEO Stephen Naor.
Group IV will also collaborate with Applied Materials to develop a low-cost manufacturing process that should enable it to accelerate its technology towards product commercialization and production. Since production cost is generally considered to be the last remaining hurdle for mass adoption of solid-state lighting, Group IV projects that its materials system will provide an advantage in creating high-efficiency, long-life lighting products that outperform incandescent, compact fluorescent and fluorescent lighting.
“We believe that Group IV has significant technology that complements Applied Materials’ work in developing cost-effective nanomanufacturing technology solutions,” says J. Christopher Moran, VP and General Manager of Applied Ventures.
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