Date
07/20/2011
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Amantys Limited (Amantys), an energy efficiency power electronics company, today announced the successful closure of a $7 million Series A round. The new funding enables Amantys to continue with the commercialisation of its digital power switching platform. The new funding round has been led by Moonray Investors, part of Fidelity International and ARM Holdings plc (ARM). Moonray Investors has additionally purchased certain of the remaining external minority interests in Amantys. Amantys, formed in 2010 by former ARM executives and an academic from Cambridge University, is developing a family of digital power platforms which will bring very high efficiency, reliable power switching and intelligence to power applications across the energy generation, transmission and consumption sectors. Nicky McCabe, COO at Moonray Investors said: "We have been impressed with the progress that Amantys has made in a short time and we have a shared vision of bringing disruptive power switching technology to wherever power is converted or transformed. The scale of the opportunity and the principle of early customer engagement are compelling and we are delighted to add Amantys to our growing portfolio." Pete Magowan, Amantys' Chairman said: "We are delighted to welcome Moonray Investors and ARM as shareholders in Amantys. Fidelity not only brings financial resources but also commercial connections in the sector." He added, "ARM is recognised as a world leading technology company with a shared passion for power-efficient electronics. With our advanced digital platform we believe we can address power losses all the way from wind and solar photovoltaic modules, transmission grids and transformers through to electric motors and electric vehicles. Our motivation is simple - Why Waste Watts?TM." Bruce Beckloff, ARM VP Corporate Business Development, commented: "The high-calibre Amantys founding team is well-placed to deliver a disruptive solution to address the problem of efficiency losses. We believe power efficiency needs to be tackled across the power supply-chain and not just at the device level and ARM has been impressed with what the team has achieved. We look forward to seeing the impact of Amantys' products on the market". Bryn Parry, Amantys CEO said: "The new round of funding, financed by two blue chip companies, will enable us to commercialise our digital power platform by launching our first products into the marketplace, significantly expand our team and work with our customers. We have been very encouraged with the results that we have been able to achieve with our product prototypes switching both silicon and silicon carbide devices and we look forward to bringing our first products to market." Advisors on the deal were: Simon Haworth of Team Kapital, Beachcroft LLP and Taylor Wessing LLP. About Amantys Amantys's mission is to improve dramatically the energy efficiency, effectiveness and reliability of power switching electronics by reducing the amount of waste energy dissipated as heat. Amantys are working with lead customers and will be announcing first products in Q42011. More information on Amantys is available at: www.amantys.com About Moonray Investors Moonray Investors is responsible for investing Fidelity International's balance sheet capital. This includes establishing new businesses and supporting existing companies, which combine a compelling commercial rationale with innovative technologies. Moonray Investors has a long-term outlook and seeks to build enterprises which will thrive and grow over generations. Fidelity International was established in 1969. It provides investment products and services to individuals and institutions in the UK, continental Europe, the Middle East and Asia Pacific. More information on Moonray Investors is available at: moonrayinvestors.com About ARM ARM designs the technology that lies at the heart of advanced digital products, from wireless, networking and consumer entertainment solutions to imaging, automotive, security and storage devices. ARM's comprehensive product offering includes 32-bit RISC microprocessors, graphics processors, video engines, enabling software, cell libraries, embedded memories, high-speed connectivity products, peripherals and development tools. Combined with comprehensive design services, training, support and maintenance, and the company's broad Partner community, they provide a total system solution that offers a fast, reliable path to market for leading electronics companies. www.arm.com
