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Home > News > Old Company Press Releases > Nanolayers News

Nanolayers Closes Seed Finance Round For Organic Semiconductor Development

Jerusalem. September 30th, 2002

Nanolayers Ltd., an innovative organic semiconductor company, announced today the closing of a seed financing round. The round was led by the Millenium Materials Technology Fund. Other investors participating in this round included Intel Capital and Summit Technology. Financial details were not disclosed.

Nanolayers' ultra-thin film enabling technology constitutes an important advancement in the fields of organic materials and molecular electronics. The company has demonstrated the performance and scalability requirements necessary to enable a broad range of high-performance organic circuitry and devices. Nanolayers' organic semiconducting materials hold the potential for lowering microelectronic production costs and expanding device configurations. Initial applications may include flat-panel displays (TFT-LCD and OLED) and semiconductor ICs.

"We are very excited about this funding round and by the participation of Millenium, Intel Capital and Summit," commented Ben-Tzion Spitz, CEO of Nanolayers. "We believe that Nanolayers could provide an essential building block to facilitate progress in the microelectronics industry, and we look forward to engaging with technology partners who can utilize this development for multiple applications currently available and those we have yet to envision."

Nanolayers (www.nanolayers.com) was formed in 2001 by Yissum, the Technology Transfer Company of The Hebrew University of Jerusalem, to develop and commercialize a deposition technology developed by Dr. Shlomo Yitzchaik, Senior Lecturer of Inorganic Chemistry at The Hebrew University. The technology, known to the scientific community as Molecular Layer Epitaxy (MLE), grants engineers the ability to form highly uniform and stable organic circuitry at less than one-hundredth the size previously attainable. Dr. Yitzchaik serves as the CTO of Nanolayers.

About Intel Capital

Intel Capital, Intel's strategic investment program, focuses on making equity investments and acquisitions to grow the Internet economy, including Internet infrastructure, content and services in support of Intel's strategic interests. In Israel, Intel Capital invests through Intel Atlantic Inc., a subsidiary of Intel Corporation. For information, visit http://www.intel.com/capital.

About Millennium Materials Technology Funds:

Millennium Materials Technology (MMT) is the leading Israeli Venture Capital firm specializing in Materials and Industrial Technology. MMT's managers have proven experience and success in managing hi-tech global operations, cutting-edge research and development, international marketing, intellectual rights, investment and financing. The fund has invested in over twenty materials technology companies. Investors in the fund include Bayer Innovation, NV Bekaert S.A., Boeing, Clal Industries, DSM, Henkel KGaA, Schott Glas Ltd., and Siemens Venture Capital. For more information, please visit http://www.mmtfund.com/.

About Summit Technology:

Summit is comprised of an international group of angel investors focusing on seed investments in 'breakthrough' technologies that show broad commercial potential.

About Yissum and The Hebrew University of Jerusalem:

Yissum is the Technology Transfer Company of The Hebrew University of Jerusalem. Yissum's goal is to create business arrangements with industry worldwide in order to commercialize the University's intellectual property, of which it is exclusive owner. Yissum's portfolio includes over 800 registered patents in fields such as: Biotechnology, Nanotechnology, Medicine, Pharmaceuticals, Materials, Agriculture & Nutrition, Environment and Computer Sciences. For more information please visit http://www.huji.ac.il/ or http://www.yissum.co.il/.

Corporate Contact:
Michael Weinstein
Nanolayers Ltd.
+972-2-563-3047
mw@nanolayers.com
www.nanolayers.com


Press Contact:
Daniel Epstein
summit advantage
972-67-222-319
daniel@summit.co.il


Reprinted with premission. Copyright Nanolayers Ltd.

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