Thursday, December 24, 2009

News: Timely investment for eoSemi

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eoSemi, a high-tech semiconductor company based on the Advanced Manufacturing Park (AMP) in Rotherham, is set to revolutionise the way electronic devices keep time after receiving its first venture capital investment.

A vibrating crystal is still used in nearly every electronic device on the planet to provide a stable timing reference. eoSemi will use the new investment to bring a new timing device to market, based entirely on silicon circuitry.

Enterprise Ventures completed the investment in the company via its RisingStars Growth Fund and alongside the South Yorkshire Investment Fund's Seedcorn Fund.

eoSemi has developed a patent pending silicon solution that replaces quartz crystals, allowing a move away from physically-vibrating devices and the associated high manufacturing cost, large package size and susceptibility to shock.

The silicon solution also allows the timing reference to be incorporated onto the existing silicon of the device for the first time, reducing the number of parts and therefore, the size and costs.

This new technology could be applied to a wide range of markets, from consumer goods, industrial & automotive systems and wireless applications, to more basic applications such as clocks and timers.

Ian Macbeth of eoSemi, said: "We approached a number of investors looking for help to explore the potential of our technology. EV provided invaluable assistance in exploring the alternative commercial routes going forward.

"EV's investment has given us the opportunity to commercialise our technology. There are few investors that would have taken such a keen interest in the company and its technology at this proof of concept stage."

Jonathan Diggines, CEO at EV said: "There aren't many semi-condutor businesses anywhere in the UK, so it is particularly significant to see eoSemi, a company with such potential, developing in the Yorkshire region. We will give eoSemi our full support."

eoSemi website


Images: eosemi.com

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