Solar Startup Reaps $15 Million in New Funding
Ottawa's Cyrium Technologies as raised $15 million in new funding to make solar cell generation competitive with power generated by coal, nuclear, water and other electricity sources. Cyrium chief executive Steve Eglash said yesterday that the the investments from a key new California investor and others will fund development of high volume production of concentrator photovoltaic cells (CPV).
The technology uses optical mirrors to maximize energy production from the sun compared to solar silicon wafers used by an older solar technology. "We are very close to our first commercial product." Mr. Eglash said. "Six customers are currently sampling a prototype." Cyrium founder and chief technology officer Simon Fafard said the "investment is what Cyrium needs to commercialize its solar cells and enable CPV to be more competitive, thus promoting massive deployment of renewable solar energy."
The former National Research Council optical expert started Cyrium five years ago. It had previously raised about $3 million in funding.
The new round was led by The Quercus Trust of Costa Mesa, California with several previous investors participating, including BDC Venture Capital, Chrysalix Energy Venture Capital and Pangaea Ventures Ltd.
The Quercus Trust is a privately-held family trust which invests in the alternative energy sector. Mr. Eglash, who joined Cyrium about a year ago, has set up a Sunnyvale, California office to tap the strong West Coast solar industry. The company has nine employees and plans to hire more in Ottawa and California.
Cyrium and some partners also got $4.6 million in separate project funding this week from the federal government through Sustainable
Development Technology Canada. The Cybium funding is the second involving an Ottawa-area startup this week. Diablo Technologies, a Gatineau semiconductor startup, also raised $15 million in new funding to expand product lines.
(c) The Ottawa Citizen 2008
Canadian Photonics Fabrication Center Receives $22 Million in Additional Funding from Canadian Government
Posted: Wednesday, February 6, 2008
Date: January 29, 2008
Source: The Ottawa Citizen
Byline: Vito Pilieci
Page: 20
Photonics centre gets $22.3M boost - NRC spreads $118M
among several research 'clusters'
When the telecommunications industry collapsed in 2002, Ottawa appeared to have lost its nascent photonics industry.
Companies such as Nortel Networks Corp. and JDS Uniphase Corp. were forced to slash production, consolidate office space and sell cutting-edge equipment for pennies on the dollar. But officials at the Ottawa headquarters of the National Research Council watched the photonics fire sale and saw an opportunity.
"We were able to capitalize on market conditions and buy equipment at huge discounts," said Pierre Coulombe, president of the NRC.
The equipment would find a home at the Canadian Photonics Fabrication Centre, which opened on Montreal Road in 2005 at a cost of $30 million.
"If we were to build this facility today, at today's prices, it would cost between $150 million and $200 million," said Mr. Coulombe.
Yesterday, the centre got a further $22.3-million boost in federal funding as part of a $118-million investment in NRC facilities across Canada aimed at helping to foster the growth of small technology companies. The NRC has split its scientific expertise into several "clusters." For example, it conducts its research into nanotechnology in Edmonton, while research into fuel cell technologies is done in Vancouver. The Edmonton nanotechnology facilities will see an additional $35 million in funding as a result of yesterday's announcement. The remainder will be split between research facilities in Vancouver, Saskatoon, Winnipeg and the Saguenay-Lac-Saint-Jean region near Quebec City.
Each facility works with businesses and universities in its area to help create new commercial technologies and educate future generations of researchers."This is not a free lunch," said Mr. Coulombe. "We need to get results." Mr. Coulombe said the NRC has had to find innovative ways -- such as picking up the photonics gear -- to stretch its government financing.
Photonics is the field of transferring information as light. The technology is used in everything from DVD players and lighting systems to high-speed Internet transmissions. With the Ottawa facility's high-end equipment, it can offer prototype manufacturing services for cutting edge technologies or to small startup companies for a fraction of what they would pay if they tried to acquire the equipment and build the products themselves.
"For any development stage company, prototyping is expensive, consuming millions of dollars in capital," said Stephen Naor, chief executive of Ottawa startup Group IV Semiconductor Inc. "In our early days we faced these challenges.
"Lots of engineering work to do and very limited funds with which to do it. We reached out to the photonics centre about three years ago and it was a hugely important step for us." Group IV used the facilities to make prototypes of its high-tech lighting products, which it then sent to potential customers and investors to gauge interest.
The company attracted an undisclosed amount of funding from a group of investors in August. The funding will be used to help Group IV step up production.
Mr. Coulombe said Group IV's example is only one of many success stories that the photonics fabrication facility has helped to create. He said the facility is running at full capacity and a second shift may be added to meet demand.
He said the new federal money will be used to hire more researchers and expand the facility's teaching programs over the next three years. Staff levels at the facility vary depending on the project researchers are working on.
After 2011, the facility will re-evaluate its operations and re-apply for more federal funding. Diane Ablonczy, Canada's secretary of state for small business and tourism, said supplying the NRC with the money is one way the federal government can help fledgling businesses get on their feet, possibly creating
the next Nortel or Cognos.
"Canada's private sector is dominated by small and medium-sized enterprises that are looking for partners to share risks and investment, allowing them to take full advantage of opportunities that could make them key international players," she said.
CPFC To Hold Photonics Commercialization Symposium - June 5, 2008
Posted: Wednesday, February 6, 2008
Lighting the Future. A high-level international event that brings together Senior Executives from leading photonics corporations together with high ranking government officials who will present their perspective on the commercialization of photonics. Presenters will also showcase emerging commercial opportunities in optics and photonics and show how these technologies are changing the way we live.
This is a one day symposium where CTOs, CEOs, VPs of Engineering, high-ranking government officials, venture capitalists and industry analysts will provide their perspectives on the most rapidly evolving markets and how photonics will provide solutions to problems of global economic importance. The speakers will share their privileged view of the evolving photonics markets and the commercialization of new photonics technologies that will enable next generation applications.
Photonics is both an industry in its own right and a far-reaching enabling technology. Photonics technology is everywhere - in medical diagnostics, solid-state lighting, data communications, energy conservation, national defence, telecommunications and other applications, which will be addressed by the symposium speakers. This meeting will provide investors, business leaders, government officials, entrepreneurs and other key decision makers with a unique opportunity to network with a select group of invited speakers in an exclusive forum. We invite you to register soon for this exclusive event and discover what will be...Lighting the Future.
Program and registration information can be found HERE. For more information, call (613) 993-6040.
Register Now to Exhibit at Photonics North 2008
Posted: Tuesday, December 11 2007
REGISTER
NOW TO EXHIBIT
To
ensure the best location ACT NOW!
PRODUCT SHOWCASE
June 3- 4 , 2008
Register to exhibit now on-line at
http://www.photonicsnorth.com
For more information please contact:
Photonics
North
Michel Walters
Exhibits Coordinator
+ 418-522-8182 -
800-618-8182
PRIORITY ALLOCATION OF SPACE
Criteria 1:
Corporate Sponsors
All
those companies who are Photonics North 2008 Corporate
Sponsors will be offered first selection of booth space.
They have until December 31, 2007 to submit an application
for exhibit space and February 29, 2008 to effect payment.
Space will be assigned in the order in which applications
are received.
Criteria
2:
Repeating exhibitors,
but not Corporate Sponsors, will have until January 31,
2008 to submit an application for exhibit space and March
31, 2008 to effect payment. Space will be assigned in the
order in which applications are received, after Criteria 1
exhibitors have been placed and also considering
seniority
Criteria 3:
Others
All
those companies not meeting the criteria 1 or 2 exhibitors
will be assigned space in the order in which their
applications are received. Payment is to be submitted
according to the Exhibitor registration form.
Plan now to exhibit at Photonics North
2 – 4 June 2008
http://www.photonicsnorth.com
For more information please contact:
Photonics
North
Michel Walters
Exhibits Coordinator
+ 418-522-8182 OR 800-618-8182
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