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DANVERS, MA, Dec 22, 2012 - (ACN Newswire) - 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 global demand.
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 wire manufacturing.
"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 .
Contact:
Connie Duncan (editorial/media) +1-408-563-6209
Michael Sullivan (financial community) +1-408-986-7977
Photo: Aventa Technologies system for manufacturing HTS wires 1/2
http://hugin.info/143724/R/1667219/541207.jpg
Photo: Aventa Technologies system for manufacturing HTS wires 2/2
http://hugin.info/143724/R/1667219/541208.jpg
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Source: Applied Materials via Thomson Reuters ONE
Topic: Press release summary
Source: Applied Materials, Inc.
https://www.acnnewswire.com
From the Asia Corporate News Network
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