1366 Technologies Receives $10M in Venture Capital

1366-Technologies1366 Technologies, a Bedford, MA-based silicon wafer manufacturer, received a $10m in venture capital.

Hanwha Investment Corporation, a Korean private equity/venture capital firm with more than $500m under management, made the investment.

The funds will be used toward the construction of its first large-scale commercial factory, scheduled to be online in 2017.

Led by Frank van Mierlo, CEO, 1366 Technologies has pioneered a manufacturing process that makes wafers in a single step, pulling them directly from molten silicon instead of today’s multi-step, energy- and capital-intensive approach, resulting in significant cost savings.



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