Evince Technology, which is developing technologies to enable the manufacture of electronics based on synthetic diamond, has closed its largest funding round to date.Evince Technology, which is developing technologies to enable the manufacture of electronics based on synthetic diamond, has closed its largest funding round to date.
According to the company, it has raised £750,240 from business angels and other private investors. The money, along with a £230,000 award from Innovate UK, will be used to strengthen parts of its technology development programme and its patent portfolio.
Evince chairman Phil Cammerman said: “This is a major milestone in the company’s development … and a significant endorsement for the company’s strategy and technology.
“Our aim is to work more closely with partners across a wide range of target applications where we believe our novel diamond technology has the potential to deliver the quantum leap in performance over silicon that the industry is urgently looking for.”
Lead investor James Morton said: “Diamond offers the potential to yield devices that are up to 100 times faster than silicon and could therefore revolutionise electronics across a broad range of industries and multi-billion dollar markets. Our investment decision was based, amongst other things, on the professionalism of the company’s approach, its passion and determination to succeed and, in particular, its rigorous development programme to deliver first prototype solid-state diamond electronic devices.”
Pic: Evince's CEO Dr Gareth Taylor with a processing tool being developed by the company
Author
Graham Pitcher
Source: www.newelectronics.co.uk