Anvil Drops the Hammer on £1m to Develop Low-Cost SiC Power Devices

Anvil Semiconductors Ltd., a spin-out from the School of Engineering of the University of Warwick, has secured £1 million funding to help develop and commercialize its silicon-carbide (SiC) power device technology. Led by founder Dr Peter Ward, the company has developed a technology that promises a step reduction in the cost of manufacturing SiC power switches, enabling it to open up high-volume SiC device markets. Anvil's unique epitaxial technology is expected to open up the prospect of devices offering silicon carbide performance at the cost of silicon. Anvil's long-term objective is to enable the production of SiC materials and devices at a cost that rivals conventional forms of silicon, while also offering substantial energy saving benefits.

The funding round was led by the Low Carbon Innovation Fund (LCIF), a venture capital fund managed by specialist energy and environment merchant bank, Turquoise International, and included Ntensive angel investor group, Cambridge Capital Group, several individual angel investors as well as existing investors Midven and Minerva Business Angels.

Jill Shaw, CEO of Anvil Semiconductors, comments: “We are delighted with the funding we have received through the LCIF. This investment will enable us to further develop our innovative technology and demonstrate its cost and efficiency benefits to the market. With the demand for power electronics and electricity continuously growing, the development of low cost silicon carbide technology provides a low carbon and energy efficient alternative to current power electronics.”

Noel Forrest, manager at Turquoise International, which oversees the LCIF fund, comments: “Anvil is the inventor of a highly ‘disruptive’ technology applicable in a large and growing market. The management team has both technical and commercial strengths and we wish them every success.”

LCIF is a venture capital fund which is managed by Turquoise International on behalf of the Low Carbon Group at the University of East Anglia and supported by the European Regional Development Fund (ERDF). It has more than £20m of ERDF funding that will be combined with some £30m of private sector capital to generate more than £50k of low carbon investments.