1366 Technologies, a Bedford, MA-based silicon wafer manufacturer, received a $10m in venture capital.
Hanwha Investment Corporation, a Korean private equity/venture capital firm with more than $500m under management, made the investment.
The funds will be used toward the construction of its first large-scale commercial factory, scheduled to be online in 2017.
Led by Frank van Mierlo, CEO, 1366 Technologies has pioneered a manufacturing process that makes wafers in a single step, pulling them directly from molten silicon instead of today’s multi-step, energy- and capital-intensive approach, resulting in significant cost savings.
FinSMEs
05/05/2016