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eoSemi to develop revolutionary timing device

posted 30 Jun 2010, 00:04 by RiDO Rotherham
Rotherham-based semiconductor company eoSemi is set to revolutionise old crystal-based timing methods after securing £3 million in an investment round.

eoSemi is taking to market a new timing device based entirely on silicon circuitry, which is set to replace the old quartz crystal mechanism still used in even the newest consumer and industrial devices. Although other technology has developed rapidly, timing mechanisms used in all varieties of electronic systems are still largely reliant on old twentieth century quartz technology. 

From its base at the AMP Technology Centre, eoSemi has developed an all-silicon replacement for quartz crystals allowing a move away from physically-vibrating quartz devices. Traditional quartz crystals have high manufacturing costs, can be bulky in size and are susceptible to shock damage. eoSemi’s new silicon approach allows a timing reference to be placed directly onto the existing silicon of the device, reducing the number of parts required for each device and therefore the cost and size. 
  
The new technology looks set to replace quartz crystals in a wide range of consumer goods from mobile phones to televisions, as well as in industrial & automotive systems and wireless applications. 

Ian Macbeth, CEO of eoSemi, said: “This investment represents a major milestone for eoSemi as we make the transition from a successful early-stage technology start-up into a commercial enterprise facing a tremendous global market. We welcome NESTA and Capital-E who join Enterprise Ventures in supporting the business and in providing the opportunity to move forward. This is an investor group with great outreach that can clearly help place eoSemi on a strong footing.” 

The £3m funding round was led by NESTA Investments and Capital-E alongside existing investors Enterprise Ventures (“EV”) via its RisingStars Growth Fund II and South Yorkshire Investment Fund. 

Libby Kinsey, Investment Manager, at NESTA investments said:  ‘We have worked with eoSemi for a year and are proud to be part of a company that combines a billion dollar addressable market with a world-class technical and commercial team. Standing on the shoulders of the UK's successful microelectronics industry this deal shows that there are great opportunities for investors in the sector and demonstrates NESTA'S commitment to investing in the UK's most promising technology based businesses.’