Thursday, 26 January 2012

TeraView Secures $5.5m to Fund Growth in Key Markets

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TeraView, Cambridge, United Kingdom – 26th January 2012


TeraView (http://www.teraview.com/), the pioneer and leader in Terahertz systems and solutions, is pleased to announce that it has secured $5.5m of investment from a consortium of US, Asian and EU based institutional and corporate investors.

The investment will allow TeraView to accelerate the growth of its semiconductor, industrial and analytical business in Asia, the US and the EU. Key areas for focus include sales and marketing in Asia, as well as further product development in its semiconductor inspection market. Funding will also be used to enhance support and collaborations with existing customers in these markets.
This investment has been secured at a time when TeraView has successfully demonstrated Terahertz applications across a variety of different industries, and there is a growing business need for the unique capabilities of Terahertz light. This need is driven, for example, by the mobile phone and consumer electronics industries, which aim to overcome limitations in the speed and functionality of current integrated circuits (ICs). Terahertz can be utilised in the development and manufacturing of both existing and new generations of semiconductor ICs, which are now widely used in mobile phones and tablet computers. Intel and other major semiconductor manufacturers currently use TeraView’s products.
TeraView has successfully secured customer funding to develop products in these and other markets. With the new capital from investors, TeraView will scale up its product delivery and manufacturing to meet increasing order patterns from current and new customers.
The funding round was led by New Hill Management and Full Circle Investments in the US, together with YFM Equity Partners and Turquoise International in the UK and other investors. Turquoise International invested on behalf of the UK Low Carbon Innovation Fund (LCIF), based at the University of East Anglia. 

Richard Harvey, Chair of the LCIF Investment Committee commented ‘We are delighted to support this patented technology which offers carbon saving technology to high growth markets, which will bring jobs and growth to the region.’

David Livesley, Investment Director at YFM Equity Partners said: “We have been following TeraView’s progress for a number of years. As one of Britain’s most innovative technology businesses we are delighted that the opportunity has arisen for YFM Equity Partners’ funds to help accelerate its growth. We look forward to building our relationship with the Company and management team as they continue their international expansion working with major multinational clients.”

Don Arnone, TeraView’s CEO stated: ”We are delighted to have attracted support from new investors, including some of our key customers. The geographical spread of our investors – US, Asia, EU - also reflects the global nature of our business. Customers are deploying our products at their production sites across the world, and this investment greatly enhances our ability to support those customers, as well as expand our product development and sales and marketing activities in strategic areas such as the Asian semiconductor market.”


About Terahertz and TeraView (www.teraview.com)

Terahertz waves sit in the spectrum between infra red and microwave and as such have unique properties.

TeraView is the world’s first company devoted to the application of Terahertz light for imaging and spectroscopy. TeraView’s proprietary platform uses the Terahertz spectrum between light and radio waves and offers the advantage of being non-invasive and non-destructive. A key application of the technology is the detection of faults and quality variations in semiconductor integrated circuits. In addition, studies have demonstrated how Terahertz uniquely and non invasively provides 3 dimensional structural and chemical information in a diverse range of applications, including weapons/explosives hidden below clothing, the contents of tablets and capsules in the pharmaceutical industry, and other objects normally invisible to conventional detection techniques. Other markets for the technology exist in medical imaging of cancer and industrial inspection which are explored via commercial partners. Headquartered in Cambridge, UK, TeraView was spun-out of the Toshiba Cambridge Research Laboratory in April 2001. Sales and support are available throughout Europe, North America and the Far East either directly or through a network of distributors.

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