Energetiq Technology Secures Series C Financing Proceeds to Advance Development of Novel Short-Wavelength Light Sources
Woburn, MA – January 6, 2009– Energetiq Technology, Inc., a developer and manufacturer of specialized short-wavelength light products for advanced technology applications, today announced that it has raised additional capital in its Series C round of financing. The financing was led by a new investor, Ushio Inc. (TSE: 6925), and supported by existing investors including Intel Capital and Shea Ventures.
Paul Blackborow, Energetiq’s CEO stated, “We are extremely pleased to have the strong support of these investment partners as we grow our sales and advance our R&D efforts in short wavelength light source technology. This funding will enable us to aggressively pursue the development of our latest light source innovation, the Laser-Drive Light Source (LDLS™), for which we were recently granted a US patent. We plan to adapt this new light source technology for use in life science analytical instrument applications and semiconductor manufacturing.”
Tatsushi Igarashi, Executive Vice President for Technology at Ushio commented, “We at Ushio were impressed by Energetiq’s ability to rapidly develop and commercialize valuable new technologies in the advanced light source area. We are pleased to participate in Energetiq’s growth.”
Since its beginnings in 2004, Energetiq has achieved significant success with customer adoption of its Extreme Ultraviolet (EUV) and Deep Ultraviolet (DUV) light source products in major research and manufacturing centers across the United States, Europe and Asia. Using patented technology, the Energetiq products have proven to be highly repeatable, reliable and cost-effective sources of short-wavelength light necessary in the production of the world’s next generation nano-scale devices.
About Ushio Inc.
Established in 1964, Ushio Inc. (Head Office: Tokyo; TSE: 6925) is the foremost manufacturer of lamps for lighting, halogen lamps for office automation equipment, UV lamps used for exposure systems in semiconductor/LCD fabrication, and discharge lamps for data projectors. It also manufactures and markets optical equipment and cinema projectors that incorporate its lamps, and many of its products have achieved impressive market shares. The company employs a workforce of 4,700, including employees of overseas consolidated subsidiaries. Consolidated sales for the fiscal year that ended in March 2007 reached 151.5 billion yen. For further information, visit: www.ushio.co.jp/enAbout Intel Capital
Intel Capital, Intel’s global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, home, mobility, health, consumer internet, semiconductor manufacturing and cleantech. Since 1991, Intel Capital has invested more than US$7.5 billion in approximately 1,000 companies in 45 countries. In that timeframe, 168 portfolio companies have gone public on various exchanges around the world and 212 were acquired or participated in a merger. In 2007, Intel Capital invested about US$639 million in 166 deals with approximately 37 percent of funds invested outside of the United States. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com
About Shea Ventures
Shea Ventures has been investing in early-stage venture capital since 1968, and today makes investments in venture capital, private equity, and alternative assets. Based in Southern California, Shea Ventures is affiliated with Shea Homes, Shea Properties, and Shea Construction. For more information, visit www.jfshea.com
About Energetiq Technology, Inc.
Energetiq Technology is the world’s leading developer and manufacturer of ultra-bright broadband light sources for a wide variety of advanced applications in life and materials sciences, semiconductor manufacturing, and R&D. Energetiq's light sources are based on a revolutionary laser-driven light source technology that generates high brightness across the spectrum, with high reliability and long operating life in a compact package. More information about Energetiq is available at www.energetiq.com.