Friday, 30 September 2016
Last updated 11 hours ago
Dec 7 2009 | 6:46am ET
Swiss investment fund Cleantech Invest AG has doubled its stake in SiC Processing AG, a company that recovers and processes the slurry from wafer production for the photovoltaic and semiconductor industries. The recent share purchase has brought the fund’s total investment in SiC to EUR 1.19 million ($1.77 million).
SiC’s patented recycling process helps wafer manufacturers to achieve significant savings in production costs and reduces disposal costs for used sawing slurry. Established in 2000 in Hirschau, Germany, the company has production facilities in the U.S., China, Germany, Norway and Italy. SiC is currently expanding its global processing capacity and expects revenues of approximately EUR 100 million ($149 million) in fiscal year 2009.
Cleantech Invest board chair Jürgen Habichler, said in a statement, “The business model of SiC Processing AG contributes to cost reduction in the photovoltaic industry and as a global market leader in their field the company is very well positioned. The investment exemplifies our focus on established, high-growth cleantech companies in the German-speaking region.”