News Article
Transphorm GaN Energises Efficiency with $38 million funding
The company offers a viable, commercial-scale solution to energy losses associated with high-voltage power conversion and has been backed by leading venture capital firms including Google Venture.
Transphorm is redefining energy efficiency with efficient and compact power conversion technology and has emerged from stealth mode at a private event at Google Ventures.
The firm announced that it has completed a $20 million Series C financing led by Google Ventures, with participation from existing venture investors Kleiner Perkins Caufield & Byers, Foundation Capital and Lux Capital. This brings the total capital raised from all rounds to $38 million.
Inefficient electric power conversion results in hundreds of terawatts of lost energy across the electrical grid, equivalent to 318 coal-fired power plants and costing the U.S. economy $40 billion a year.
Leveraging breakthroughs in modern materials and a world-class team, Transphorm's ultra-efficient and cost-competitive power GaN modules eliminate up to 90 % of all electric conversion losses. From HVACs to hybrids, from servers to solar panels, Transphorm enables significant energy savings across the grid.
“We founded Transphorm to re-imagine what enhanced efficiency in the generation and use of electrical energy can do for our economy,” said Umesh Mishra, CEO of Transphorm.
“Why put up with needless energy waste in every electrical system and device, when we can quickly and cost-effectively design products that are inherently energy efficient. Transphorm’s next-generation power modules cut waste, increase efficiency, reduce system size and simplify overall product design.”
“Since we deliver a complete solution from the original materials through to the final modules, we are in a position to rapidly innovate and deliver product in quick response to demand,” said Primit Parikh, President of Transphorm. “We look forward to helping our partners open a new era in ultra-efficient and compact power conversion.”
“Solving the enormous problem of power waste will create immediate, long-term shared value for Transphorm’s customers and investors,” said Randy Komisar, partner, Kleiner Perkins Caufield & Byers. “It was imperative for our firm to get behind Transphorm because it is the first company with a viable, commercial-scale solution to energy losses associated with high-voltage power conversion.”
Transphorm delivers custom-designed power modules that are easy to embed in virtually any electrical system, from consumer electronics products, to industrial motor drives, to inverters for solar panels and electric vehicles, and sells these modules to power equipment manufacturers. The company will unveil its first product at the upcoming APEC conference, taking place in Fort Worth, Tex. from Mar. 6 -10, 2011.
“We recognise the need to innovate to uncover new opportunities for optimal energy efficiency,” said Toshihiro Sawa, Managing Director, Technology & Development Division of Yaskawa Electric Corporation. “The time is right to develop power conversion technologies that can cut power waste and reduce excess heat, and Transphorm provides a viable solution today.”
“It is imperative that power conversion efficiency be increased both to cut unnecessary losses and to save energy, but also to reduce waste heat which has negative impact on volume, weight, cost and reliability,” said Leo Casey, CTO, Satcon Corporation. “The innovations made by Transphorm offer an attractive solution to this problem.”
