Axus Technology Secures $12.5 Million in Capital Funding

CHANDLER, Ariz., May 29, 2024 (GLOBE NEWSWIRE) -- Axus Technology, a leading global provider of chemical mechanical planarization (CMP) equipment, critical for manufacturing semiconductors and compound semiconductors, today announced it has received $12.5 million in capital funding from growth capital firm IntrinSiC Investment LLC. In addition, the company has secured a significant revolving and term line of credit from a leading national bank.

As an established equipment manufacturer with a strong installed base and leadership in advanced silicon carbide (SiC) semiconductor processing, Axus Technology has developed a core understanding of technologies related to CMP – specifically, semiconductor wafer polishing, thinning and cleaning. As a result, the company is extremely well positioned to drive toward volume sales of, and enter new markets with, its highly differentiated Capstone^® and Aquarius™ platforms. The company will use the equity funds to further these efforts, leveraging its strong capitalization to pursue and fulfill high-volume orders from semiconductor and compound semiconductor manufacturers around the world.

“We are thrilled to partner with IntrinSiC Investment to secure funding that supports our expansion. With this additional funding, we are strongly positioned to support our rapidly growing installed base of high-performance Capstone CMP systems, particularly with our leading-edge, high-volume customers,” said Axus Technology CEO Dan Trojan. “In addition to strengthening our balance sheet, we expect to significantly benefit from the interaction, support and contribution of IntrinSiC’s principals, whose skill and experience in the semiconductor industry and impressive track record will greatly benefit Axus Technology’s continued growth and evolution.”

Johannes Froehling, general partner, IntrinSiC Investment, noted, “We have been engaged in the compound semiconductor ecosystem for more than a decade. Over the past two years, we have made strategic investments in companies with a strong focus on SiC, as well as gallium nitride, or GaN. Our approach is to seek recommendations from leading chipmakers for companies with a solid, technically differentiated product portfolio that are well positioned to move to high-volume manufacturing once capitalized. Axus Technology was cited across the board as a company that met or exceeded these characteristics. We’re excited to play a role in enabling the next phase of their success.”

About Axus Technology
Led by its state-of-the-art Capstone^® CMP and Aquarius™ wafer-cleaning platforms, Axus Technology is a recognized industry leader in designing and building modern, flexible next-generation equipment and providing custom process-development services. Axus enables companies of all sizes, from startups to high-volume manufacturers, to test, develop, and implement leading-edge solutions—particularly for novel and emerging materials—process integration schemes, products and applications. Axus’s equipment solutions range from low cost-of-ownership entry-level tools to state-of-the-art high-volume manufacturing systems. Process testing, development, optimization, and scaling are supported by our process applications lab and foundry, which includes a full array of process equipment and supporting metrology, and is staffed by the industry’s most experienced CMP team. For more information, please visit www.axustech.com

About IntrinSiC Investment
IntrinSiC Investment LLC (Palo Alto, Calif.) is a private equity firm that is investing in suppliers of key enabling technology for semiconductor material silicon carbide (SiC) to accelerate the market penetration of SiC-based solutions targeting power electronics applications such as vehicle electrification, renewables, 5G communications, data centers, and beyond. Founded and led by semiconductor industry veterans with strong backgrounds in the semiconductor capital equipment ecosystem, IntrinSiC Investment is focused on SiC and other compound semiconductors due to their rapid growth, superior material properties compared to silicon, and significant market opportunities.

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