06 June 2007
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Point 35 Microstructures Announces Initial Equity Funding by Close Ventures |
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Edinburgh, June 6th 2007 |
Point 35 Microstructures (http://www.pt35.com/), the established leading supplier of refurbished semiconductor wafer processing equipment and proprietary MEMS (Micro-Electro-Mechanical Systems) wafer processing equipment in Europe, is pleased to announce that it has received significant initial equity funding from Close Ventures (http://www.closeventures.co.uk/).
Based across two sites in Livingston and Edinburgh, Point 35 Microstructures have developed the memsstar® platform, the only Etch and Deposition system that enables the high levels of control, repeatability and yield seen in the semiconductor industry to be achieved in MEMS manufacturing. Using its proprietary vapour flow control technology, memsstar® provides a major enhancement over current vapour and wet etching technologies by bringing semiconductor style manufacturing technology to the MEMS industry. This significantly increases the throughput and yield over current approaches and enables cost effective volume production. The systems are therefore matched to the increasingly sophisticated needs of MEMS developers and manufacturers, as well as being fully compatible with existing semiconductor facilities.
The investment will allow memsstar® to accelerate the roll out of its SVRTM and SPDTM systems specifically targeted on the needs of the MEMS manufacturing community. It also increases investment on additional applications development for the memsstar® systems. In addition, this capital injection will provide extra service and technology products for the highly successful business which supplies full specification used equipment solutions to the semiconductor and MEMS industries.
Mike Leavy, CEO of Point 35 and its memsstar® Technology division, said: "Point 35 and memsstar® are already proven and successful complementary businesses built upon our core competencies of etch and deposition process technology. We have consolidated an enviable reputation both for the capability and quality of our products in the MEMS and semiconductor industries. This new partnership with Close Ventures provides the basis for the worldwide roll out of our products and services along with the development of additional product capabilities. We are exceptionally pleased to have found in Close Ventures an investor with broad technological experience and extensive business development experience to help maximise the value of our proposition"
Andrew Elder, Investment Manager, Close Ventures said: "The market for MEMS devices is large and growing fast. Point 35 Microstructures have created a platform to enable further growth of this exciting market by enabling MEMS devices to become lower cost and higher functionality as well as allowing existing chip manufacturers to diversify into MEMS production with minimal additional investment. We have been very impressed by the highly experienced management team's understanding of where opportunities in the industry lie and their commitment to exploiting them to their maximum potential."
ENDS
For further information please contact:
Point 35 Microstructures
Peter Connock, (Business & Technical media)
Tel: 031 70 5145 767
Keith Rutter, (Financial)
Tel: 01506 409 160
Close Ventures
Andrew Elder
Tel: 020 7422 7830
About Point 35 Microstructures
Point 35, headquartered in Livingston, UK, is a global technology, engineering, and service organization servicing the semiconductor and nano-technology industries. Point 35 offers a complete range of technology based services including fabrication equipment, applications support, system installations, warranty and post-warranty coverage. Additional information about the company can be found at http://www.pt35.com/. Point 35 wholly owns its trading division Memsstar® Technology and globally supplies it's memsstar® product range through it's global network of offices and partners. Additional information about the company can be found at http://www.memsstar.com/
About Close Ventures
Close Ventures is one of largest and most successful providers of venture capital in the UK. Formed in 1996 as part of Close Brothers Group plc, Close Ventures currently manages a portfolio of six VCTs, with funds under management of £255 million. In 2005 and 2006 it was named VCT Provider of the Year at the Professional Adviser Awards and VCT Fund Manager of the Year at the Growth Company Awards.
The core investment strategy of all of the seven funds is to offer investors lower investment risk, whilst providing higher dividend yield and sustained capital growth. Close Venture's funding capability ranges from £0.75 million to £10 million. Larger investments tend to be strongly asset-backed while at the smaller end of the funding scale Close Ventures looks at second or third round technology propositions. Finally, in the middle ground (investments of between £1 and £5 million) Close is focused on mainstream growth capital and smaller MBOs. Close Ventures is authorised and regulated by the Financial Services Authority.