SHANGHAI, China and SAN FRANCISCO, Calif., Mar. 10, 2010
—Advanced Micro-Fabrication Equipment, Inc. (AMEC) today announced that it has closed its Series D financing round by securing $46 million from existing investors. They include: Shanghai Venture Capital Co. Ltd., , Walden International, Lightspeed Venture Partners, Goldman Sachs, Redpoint Ventures, Global Catalyst Partners, InterWest Partners, Bay Partners and Qualcomm Ventures.
Since its inception in 2004, the company has raised more than $150 million from venture capital sources.
"I am very pleased that AMEC held its ground during the severe economic crisis and semiconductor industry downturn," said Pingao Wang, President of Shanghai Venture Capital Co. Ltd. "The company has made major progress in plasma Etch equipment development and achieved good product positioning momentum. At the same time, they have played a leading role in the development of China's semiconductor equipment industry. Looking ahead, I believe that AMEC is very well positioned to ramp up volume production and provide the best equipment solution along with excellent technical support to IC makers. Shanghai Venture Capital Co. Ltd. will continue to support AMEC's execution of its business and technology strategy."
Lip-Bu Tan, Chairman of Walden International, noted, "As the semiconductor industry moves to advanced device nodes (32/22-nm process), foundries are expanding capacity to keep pace with stringent new technology requirements. AMEC raised sufficient capital to build a tool that offers the best performance, highest yield and lowest cost of operation for this advanced production environment. I'm confident that the management team will rise to the challenge and help the industry meet the new demands."
"AMEC's management team continued to execute on its business plan through the downturn and has emerged with a compelling offering at a time when capital equipment demand is growing," said Chris Schaepe, Managing Director of Lightspeed Venture Partners. "The steady adoption of the company's technology by leading chipmakers is very encouraging, as is the company's product roadmap. We look forward to AMEC's continued growth as the industry rebounds and demand for the company's differentiated Etch product continues to rise."
"The financing provides extra bandwidth to further position our product and accelerate volume production," said AMEC's Chairman and CEO, Dr. Gerald Z. Yin. "Despite tight capital markets and a generally difficult environment for start-ups, we kept our aggressive innovation initiatives on track. This enabled us to deliver a best-in-class plasma Etch tool to customers working on very advanced devices. With its industry-leading productivity, performance and cost advantages, the tool has gained a strong foothold in fabs across Asia. We're grateful to our investors and customers for their confidence and continued support."
Since the last funding round, AMEC has focused on positioning its Primo D-RIE™ Etch tool at customer sites. Today, five companies in Asia have installed the system. They include foundries and memory IC companies fabricating devices at nodes of 65 nm and 45 nm, with extendibility to 32 nm and beyond. Repeat orders have already been received and smooth system start-ups are underway at the customers' respective fabs. Additional tools are slated for delivery throughout 2010. Some will go to existing customers for volume-production; others are bound for new customers.
Chipmakers are drawn to the PRIMO D-RIE system for its novel architecture—a cluster tool with a dual-station chamber with single-station independent control—along with its very high radio frequency Decoupled Reactive Ion Etch (D-RIE) technology. When combined with superior engineering design and high-quality manufacturing, these features make AMEC's Primo D-RIE one of the most productive, reliable and cost-efficient Etch tools on the market. Last year, the system received the 2009 Best Product Award from leading US trade publication, Semiconductor International. In addition, AMEC and its technology received nine other regional awards during this time.
Other recent corporate developments include the settlement of all outstanding disputes with Applied Materials, with a mutual commitment to evaluate collaboration opportunities. About Advanced Micro-Fabrication Equipment, Inc.
Advanced Micro-Fabrication Equipment, Inc. (AMEC) is a leading Asia-based semiconductor equipment company with proprietary wafer fabrication solutions designed to advance technology, increase productivity and reduce manufacturing costs for leading global semiconductor manufacturers. AMEC's systems combine unique technology solutions with economic innovations for the 65- 45- and 32-nm nodes and beyond. The company maintains R&D, manufacturing, business and support operations in China, with sales and support organizations in Japan, Korea, Singapore and Taiwan. To learn more, please visit www.amec-inc.com.