Anvil gains GBP1m funding to commercialise low cost SiC power switch devices
Led by founder Dr Peter Ward, the Coventry-based company has developed a ground-breaking epitaxial technology that promises a step reduction in the cost of manufacturing silicon carbide (SiC) power switches, enabling the technology to open up high volume SiC device markets.
The benefit of SiC power switches are their increased efficiency, which results in reduced carbon emissions and running costs. Anvil’s long-term objective is to enable the production of SiC materials and devices at a cost that rivals conventional forms of silicon, while also offering substantial energy saving benefits.
The funding round was led by the Low Carbon Innovation Fund (LCIF), a venture capital fund managed by specialist energy and environment merchant bank, Turquoise International, and included Ntensive angel investor group, Cambridge Capital Group, several individual angel investors as well as existing investors Midven and Minerva Business Angels.
Jill Shaw, CEO of Anvil Semiconductors, said: “This LCIF investment will enable us to further develop our innovative technology and demonstrate its cost and efficiency benefits to the market. With the demand for power electronics and electricity continuously growing, the development of low cost silicon carbide technology provides a low carbon and energy efficient alternative to current power electronics.”
LCIF is a venture capital fund which is managed by Turquoise International on behalf of the Low Carbon Group at the University of East Anglia and supported by the European Regional Development Fund (ERDF). The fund has more than £20m of ERDF funding that will be combined with some £30m of private sector capital to generate more than £50k of low carbon investments.
Visit Anvil Semiconductors at www.anvil-semi.co.uk
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