Aventa Technologies Receives Strategic Investment from Applied Ventures to Support High Temperature Superconductor Technology
(Thomson Reuters ONE Via Acquire Media NewsEdge)
DANVERS, MA, December 21, 2012 - Aventa Technologies, Inc., a provider of
manufacturing equipment for emerging alternative energy markets such as high-
temperature superconductors (HTS), announced today that Applied Ventures, LLC,
the venture capital arm of Applied Materials, Inc., has made a strategic
investment in its series A financing. The investment will be used to support its
operation to commercialize the equipment the HTS industry needs to meet growing
HTS technology promises to significantly improve power distribution by enabling
the lossless transmission of electrical power over long distances. Several
applications of HTS wires are expected to move from demonstration to large-scale
projects in the near future. As old grid infrastructures get upgraded with more
advanced technologies to increase efficiency, substantial adoption of
superconducting fault current limiters and HTS cables is expected. For example,
China plans to spend $530B in this decade to build a strong and smart grid,
according to the China Greentech Initiative.
Aventa Technologies offers a comprehensive set of systems for manufacturing
advanced HTS wires. The company's advanced vacuum deposition tools can
accelerate the adoption of HTS solutions by increasing the productivity of HTS
"Applied Materials' core expertise will greatly benefit us as we scale our
technology which is key to the cost-effective, high-volume manufacture of HTS
wire," said Piero Sferlazzo, president and CEO of Aventa Technologies. "This
financing provides us with the capital to strengthen our product line and scale
manufacturing capabilities to meet our customers' requirements."
"We are excited about Aventa's progress in developing critical manufacturing
technology for this emerging alternative energy sector," said J. Christopher
Moran, corporate vice president and general manager of Applied Ventures. "HTS
technology has tremendous potential, and we are pleased that this investment
will be used to make advanced grid solutions more affordable."
About Aventa Technologies
Aventa Technologies is a manufacturer of thin film deposition equipment for
alternative energy markets, specializing in highly customized advanced vacuum
deposition tools. For more information, visit www.aventatech.com.
About Applied Ventures
Applied Ventures, LLC, a subsidiary of Applied Materials, Inc., invests in early
stage technology companies with high growth potential that provide a window on
technologies that advance or complement Applied Materials' core expertise.
Applied Ventures' investments help develop technologies and markets that provide
natural extensions of Applied Materials' businesses and can stimulate the growth
of applications for its products and services. Applied Materials, Inc. is the
global leader in providing innovative equipment, services and software to enable
the manufacture of advanced semiconductor, flat panel display and solar
photovoltaic products. Learn more at www.appliedventures.com.
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Connie Duncan (editorial/media) 408.563.6209
Michael Sullivan (financial community) 408.986.7977
Photo: Aventa Technologies system for manufacturing HTS wires 1/2:
Photo: Aventa Technologies system for manufacturing HTS wires 2/2:
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Source: Applied Materials via Thomson Reuters ONE
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