Nitride Solutions Inc. of Wichita Kansas, a developer and producer of nitride substrates for LEDs, power electronics, and lasers reported reported closing $3M in new funding. Hansol Chemical, Greenpoint Global Mittelstand Fund, and Silicon Pastures Angel Investment Network joined the company’s investor group. The company plans to use the funds to expand production of its aluminum nitride substrate offerings and accelerate market introduction of its thermal management coatings.
Nitride Solutions CEO Jeremy Jones said he is extremely pleased to have Hansol and Greenpoint as investors. “With Hansol we are gaining an important partner in Korea and Japan to exclusively represent our products and share critical customer feedback,” Jones said. “Greenpoint brings deep knowledge of companies in Asia that are seeking U.S. manufacturing capability.”
Yeunjoo Cho is the vice president of strategic planning for Hansol Chemical. Hansol Chemical is part of Hansol Group and is a leading manufacturer of specialty chemicals in Korea. “We believe that Nitride Solutions’ technologies for UV LEDs is truly next-generation and are very excited about this investment and partnership,” Cho said. “A partnership of this nature will help us accelerate toward technical leadership in electronic chemicals. In return, Nitride Solutions will gain partnership in the high-demand markets of Asia and will be able to maximize the growth of the company.”
Silicon Pastures Angel Investment Network, Hansol Chemical, and Greenpoint Global Mittelstand Fund join the company’s existing national investment group including angel investors from Alaska, California, Kansas, Nebraska, Oklahoma, Washington (D.C.).