Sweden’s power semiconductor firm Ascatron said on Wednesday it has raised additional 4 million euros for finalising development of its energy-saving chips, and was closing its A round with the new funding.
Ascatron develops power semiconductors based on Silicon Carbide (SiC) that radically reduce losses in electrical transformers. Losses can be up to 20 percent when electricity is converted to adjust voltage and frequency with conventional technolog. Ascatron focuses on high voltage applications where the energy savings will be very large by using SiC.
Of the latest 3 million euros went into equity, and 1 million was an innovation grant from the European Institute of Innovation and Technology (EIT) through KIC InnoEnergy. The A-round investors are from Italy and China, including the four venture capital investors Quadrivio, Como Venture, Rise Leader Investment and InteBridge Technology, together with the equipment producer LPE.