1366 Technologies Raises $5M in Series C Financing

1366-Technologies-Logo1366 Technologies, a Bedford, MA-based silicon wafer manufacturer, completed a $5m extension to it Series C financing, bringing the round’s total to $22.5m.

The round was led by the China-based venture capital firm Haiyin Capital.

The company, which has raised $69.5m in total, intends to use the funds for the construction of its 250 MW full-scale manufacturing facility, which will initially produce 60 million standard silicon wafers per year.

Led by Frank van Mierlo, CEO, 1366 Technologies produces Direct Waferâ„¢ forms multi-crystalline wafers directly from molten silicon. The technology, which replaces several inefficient machines, uses 50% less silicon than traditional methods, creates environmental benefits by eliminating slurry (an abrasive liquid used during wafer cutting and polishing) and halving silicon waste.
The company is also preparing to build a 250 MW commercial facility in the United States.

FinSMEs

09/04/2015

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