Synova secures USD 8.1 million to drive global expansion efforts
"This funding comes at a pivotal time for Synova," said its chief executive officer, Bernold Richerzhagen. "Laser MicroJet has experienced phenomenal traction in recent years, and our global expansion efforts are aligned with the market's demand for innovative cutting technology. Our MMCs will allow us to effectively anticipate and serve the needs of our global customer base as we further penetrate not only the semiconductor market, but also burgeoning, precision-centric sectors such as inkjet print-head MEMS, hard disk drives (HDDs) and organic light-emitting diodes (OLEDs)."
According to leading market research firm IDC, the expected compound annual growth rate for the inkjet print-head MEMSand HDD markets are forecast at 8.8 percent through 2008 and 15.5 percent through 2009, respectively. In addition, the OLED market is forecasted to grow at a phenomenal compound annual rate of 74 percent by next year alone.
Last month, Synova announced that its first MMC, located in the Silicon Valley, will open in January 2007. This MMC will feature an applications laboratory with Synova's most recent Laser MicroJet tool -- the LDS 300 A. Future MMCs, planned to open throughout 2007 and 2008, will house similar tools.
