Nitronex Lands Additional Venture Capital

Raleigh, NC. Nitronex Corporation, a Raleigh, NC based semiconductor startup, is receiving $500,000 in venture capital from Centennial Venture Partners, a $10 million venture fund started by NC State to help launch start-up companies affiliated with the university.

Nitronex is set to begin scaling their proprietary technology for the integration of gallium nitride onto silicon. "This technology will enable the development of a heretofore inaccessible area of semiconductor products," said Mark Johnson Nitronex Chief Executive Officer, who, along with three other NC State graduates, founded Nitronex in 1998.

"By pooling the talents of the founders, in conjunction with the university s transfer program, this innovative team is positioned to use its leadership in perfecting the quality and PENDEO(TM) growth of gallium nitride material and transform these achievements into viable commercial products," said Kevin Linthicum, Vice President of Materials Development. "Within the next few years, this will be seen in the next-generation components found in technologies like DVDs and wireless communications, as well as products not yet even envisioned."

"The PENDEO(TM) process allows us to fundamentally combine gallium nitride, which has the highest demonstrated properties of any semiconductor, with silicon, the most widespread semiconductor and basis of the entire information era," stated Mark. "The long term opportunities for this technology are staggering," he continues, "In wireless applications alone, this combination is an opportunity to integrate the digital circuit functionality of silicon with the power amplification of gallium nitride. As the demand for bandwidth and wireless connectivity continues the exponential rate of growth, the PENDEO(TM) process will become the backbone of this advanced technology."

Over the past year Nitronex has worked closely with the initial developers of the PENDEO(TM) process at NC State. The team collaborated closely with NC State to file patents and license the critical intellectual property.

Created in the fall of 1998, Centennial Venture Partners is one of only a few venture capital funds nationwide investing specifically in start-up companies associated with a university. In its first year, CVP invested in 10 start-up companies.

University leaders say the fund furthers NC State s mission to improve the local, state and regional economy by creating jobs and transferring technological innovations from university labs to the marketplace. It is especially important as a source of venture capital in a state where seed/early-stage funding has traditionally been hard to find.

Nitronex Announces New, Expanded Headquarters in Raleigh, N.C.

Relocation will accommodate wafer fabrication, R&D, sales, marketing and support operations

Raleigh, NC., Nitronex Corporation, a leading developer of gallium nitride PENDEO(TM) material, announced today a new and expanded headquarters in Raleigh, NC.

The new facility will accommodate expansion of the company s research & development, sales, marketing and support operations. Construction on a new wafer fabrication cleanroom is underway at the facility.

Nitronex is the first start-up company to "graduate" from the small business incubator at NC State s Centennial Campus. Nitronex was one of the first companies to open an office in the Entrepreneurial Development Center at NC State, a small business incubator that opened in September. Developed and managed by the N.C. Technological Development Authority (NC-TDA), the incubator offers furnished office and laboratory incubator suites for start-up companies, including several - like Nitronex - with close ties to the university.

By pulling the talents of the founders, this innovative team is positioned to use its leadership in perfecting the quality and growth of gallium nitride material and transform these laboratory achievements into viable commercial products," said Kevin Linthicum, Vice President of Materials Development. "Within the next few years, this proprietary process will be the key to advancing the next-generation components found in technologies like DVDs and wireless communications."

Centennial Campus is NC State s 1,000-acre research park, which the university envisions as the campus of the future - a "technopolis" of university, corporate and government R&D facilities and business incubators.

"Our new headquarters will accommodate our growth and improve our efficiency. Work on our new clean room has started and will allow us to put our R&D, fabrication, and sales & marketing under one roof," said Mark Johnson, Nitronex Chief Executive Officer. "Working with NC State has been a tremendous benefit to both organizations. We ve been able to address the R&D issues which we can now rapidly transfer into production at our new facility." Nitronex s new headquarters, is located at 616 Hutton Street, in Raleigh. The facility is located adjacent to the NC State campus, from which there is shared development efforts in progress.

Contact:,
Nitronex, Raleigh Bob Lynch, 919/807-9100;
bob@nitronex.com