TranSiC AB raises Euro 44 Million with First Round Financing
Source/Type: Press Releases - As issued by company

November 10, 2006... TranSiC AB raises Euro 44 Million with First Round Financing

Silicon Carbide Power Transistor Manufacturer Closes Successful First Round

Kista, Sweden--TranSiC AB, developer of power transistors in the wide bandgap material Silicon Carbide today announced that it has raised SEK 4 million ($ 6 million, EUR 0,44 million) venture capital in a first round financing led by Volvo Technology Transfer Corporation of Sweden, and co-led by Midroc New Technology AB of Sweden.

"We are very happay and pleased to have VTT and Midroc as our financial partners and with both of their organisation´s strong industrial background. This investment will enable us to bring to our customers power bipolar junction transistors (BJTs) in silicon carbide (SiC). The first transistors will be rated for 1200 V and offer advantages in terms of low power losses, fast switching and excellent ruggedness. We are also planning for a package technology that can withstand temperatures up to 225 ºC" according to Bo Hammarlund, CEO.

TranSiC develops and manufactures power bipolar junction transistors (BJTs) in Silicon Carbide, under the trademark BitSiC ®. Key advantages of the BitSiC® are higher current gains and faster switching compared to silicon power bipolar junction transistors. In addition, the BitSiC® chip operates well at temperatures exceeding 250 ºC, and this opens up for new applications after development of a suitable package technology.

Development and device fabrication is performed in the Electrum Laboratory in Kista, Sweden, where a four inch line suited to SiC device technology, is available. TranSiC has also access to excellent device characterization facilities and to testing in applications through cooperation with pilot customers.

"TranSiC is the first company to offer power transistors in silicon carbide on the market. They also have a technical road map which looks very exciting for the next coming years. We feel confident that TranSiC in the R&D environment in Electrum will provide the industry with new and innovative silicon carbide solutions. We are very impressed by the TranSiC team and pleased to be part of their exciting growth world wide", says Göran Linder Managing Director at Midroc New Technology AB.

“For the automotive industry, managing power electronics is an increasing challenge. The TranSiC products increase design flexibility and efficiency of for example hybrid drivelines. We are exited to join this team in commercialising this novel technology," said Johan M Carlsson, Investment Director at VTT.

For further information please contact
Bo Hammarlund, CEO TranSiC AB,
phone +46 70 7412622

Johan M Carlsson, Investment Director Volvo Technology Transfer Corporation, Göran Linder, Managing Director Midroc New Technology AB,

About TranSiC

TranSiC (www.transic.se) is a start up from the Royal Institute of Technology, Kista, Sweden and was founded in Dec 2005 by Mikael Östling, Martin Domeij and Bo Hammarlund. TranSiC was initially supported financially by Vinnova (Swedish Governmental Agency for Innovation Systems) and Energimyndigheten ( Swedish Energy Agency) . TranSiC has from the start been coached by STING, Stockholm Innovation and Growth. TranSiCs mission is to supply the industry with the first generation of power transistors in Silicon Carbide. Targeted applications are compact motor drives exceeding 1 kW e.g. for future Hybrid-Electrical- Vehicles ( HEV), distributed power generation on the grid, high temperature capable power electronics and high-frequency high voltage applications.


• Professor Östling has been running silicon carbide R&D at KTH since 1992.
• Martin Domeij Ph D is the leader for a silicon carbide power BJT project since 1999.
• Bo Hammarlund M Sc has a R&D background and 15 years S&M with e.g. Lucent

Micro Electronics .
About Volvo Technology Transfer Corporation

Volvo Technology Transfer (VTT) www.volvo.com/venturetech is AB Volvo’s corporate venture capital company. VTT creates value for Volvo shareholders and the organisation by investing in new technologies and emerging business opportunities with relevance to Volvo.

About Midroc New Technology AB

Midroc New Technology AB is a Swedish Private Equity Company that invests at an early stage in emerging technologies with demonstrated potential for substantial and international break-through. All portfolio companies are accompanied by persistent and professional support to promote high rates of successful exits. The company is a member of the Midroc Group in Scandinavia and wholly-owned by Mohammed H. Al Amoudi.

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