Elephantech borrows for ‘green’ PCBs after signing with Lite-on

Elephantech borrows for ‘green’ PCBs after signing with Lite-on

Business news |
By Peter Clarke

Elephantech Inc. (Tokyo, Japan), a developer of reduced-material processes for the creation of PCBs, has borrowed two billion yen (about US$13.5 million) from Mizuho Bank Ltd.

The loan has been provided under a Japanese government backed debt guarantee scheme. And it brings the total capital raised by Elephantech to 12 billion yen (about US$81 billion) comprising 6.5 billion yen in capital increase, 5.4 billion yen in loans and subsidies.Elephantech is a 2014 startup that manufactures flexible and rigid PCBs using metal inkjet printing to reduce waste water, other materials and energy consumption in-process.

In November 2023 Elephantech signed a memorandum of understanding with Lite-On Technology Corp. (Taipei, Taiwan) to promote the mass production of low-carbon PCBs. Under the agreement both companies agreed to work on business development for Elephantech PCBs and their integration within Lite-On products.

Also in November Elephantech announced it had closed its Series D funding round at 3.9 billion yen (about US$26.4 million).

At that the time the company said it would use the funds to expand the mass production of its P-Flex flexible printed circuit boards, further develop metal inkjet printing technology and strengthen the company’s domestic and international sales structure.

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