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SemiSouth further boosted by $5m venture fund

Just one week after opening its new SiC device fab, SemiSouth secures a further $5 million investment.

SemiSouth Laboratories, the Mississippi company that opened its SiC device facility just last week, has accepted another $5 million in venture finance.

The new investment has been provided by existing SemiSouth financiers Delta Capital Management and Southern Appalachian Fund, and will be delivered in two stages over the next three months.

A variety of Mississippi-based institutions also took part in the latest funding, prompting SemiSouth CEO and co-founder Jeff Casady to acknowledge the role of the local state governer - Haley Barbour - in drawing in investment capital for high-tech applications in Mississippi.

The extra $5 million will help SemiSouth to further invest in its Starkville fab, which also houses a wafer facility managed by materials specialist II-VI.

SiC-based power electronics is expected to become a key new application area for compound semiconductors, as the technology can improve the operational efficiency of power supplies and the batteries used in hybrid electric vehicles.

US-based Cree and the Swedish company Norstel have also opened SiC fabs within the past few weeks.

•John Palmour from Cree and Will Draper from SemiSouth are among the speakers participatng in this year s Key Conference, which takes place Novermber 13-14 in San Antonio, TX.

To check the Key Conference agenda and ensure your early-bird rate to attend this event, click here.

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