ZettaCore, Inc., a developer of molecular materials and
technology for semiconductor products, announced
that it has completed a $21 million Series C financing that will help the
company to bring its technology to market.
The Denver, Colorado-based company’s technology is meant to optimize costs, performance and energy use in electronics.
However, CEO Subodh Toprani told the Cleantech Group the company is also developing ionic liquids for heat storage in solar thermal power plants.
The company reportedly will release more details on this initiative after securing customers.
New investorsin the latest round of funding include
Panasonic Ventures–the investment arm of electronics corporation Panasonic (NYSE: PC)–and Itochu Technology Ventures–investment arm of major Japanese trading house Itochu Corporation (ITOCF.PK).
Others include Globis Capital Partners, Yasuda Enterprise Development and Epic Ventures. Previous investors include Draper Fisher Jurvetson, Kleiner
Perkins Caufield & Byers, Radius Ventures, Oxford Biosciences, Access Ventures,
Garrett Capital, and Stanford University.
"ZettaCore’s molecular technology has the potential for broad use in the electronics
industry," said Satoshi Kabasawa, Councilor in the
Technology Strategy Group of the Corporate R&D Strategy Office of Panasonic
Corporation.
Toprani said, "With the new funds we will be expanding
internationally, creating new product offerings and ramping commercial production of
our technology.”
A new study by the American Council for an Energy-Efficient Economy (ACEEE) found that advancements in semiconductor technologies are the key to economy wide energy efficiency improvements.
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