Sunday, March 28, 2010

ATEL Ventures invests $3.5 million in semiconductor CMP pad technology

SAN FRANCISCO, USA: ATEL Ventures, a provider of secured financing to emerging growth companies, has provided $3.5 million in venture debt financing to NexPlanar, a developer of next-generation chemical mechanical planarization (CMP) pads for the semiconductor device industry. The financing will be used for capacity expansion to support increased customer demand.

“NexPlanar faces a fantastic challenge to keep pace with increasing global demand for its recently-commercialized technology,” said Steve Rea, Executive Vice President, ATEL Ventures. “We look forward to supporting the NexPlenar team through its growth in the US, Asia and beyond.”

“The semiconductor industry responded favorably to our Q3 2009 launch of the NexPlanar Element family, and we’ve already opened a representative office in Taipei respond to new demand from Taiwan and South East Asia,” said Jim LaCasse, President and CEO, NexPlanar. “This debt investment from ATEL will help us scale appropriately to meet the demands of our global customer base, while continuing to advance our technology.”

Headquartered in Hillsboro, Oregon, NexPlanar is venture-backed by BlueRun Ventures, InterWest Partners, SmartForest Ventures, Fina Ventures, Intel Capital and Entegris.

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