XTRION N.V. Completes First Investment Round in MicroGen
MicroGen Systems, Inc. (MicroGen) announced that XTRION N.V. (XTRION), a closely held holding company located in Tessenderloo, Belgium, completed the first investment round of the company. The oversubscribed raise was a total of $2.6M, which includes non-dilutive funds equaling $800K from a separate licensing agreement, and a contract with the NY State Energy Research Development Authority.
XTRION has holdings in multi-national semiconductor and MicroElectroMechanical Systems (MEMS) companies, including a presence in the United States, Europe and Asia.
XTRION Managing Director Rudi De Winter commented: "MicroGen's core principal devices will have a direct positive environmental impact. XTRION believes that the MEMS-based piezoelectric vibrational energy harvester (PZEH) technology being commercialized by MicroGen will play a significant role in wireless sensor markets within many different industries from industrial and automotive, to household and consumer markets as well."
Dr. Robert Andosca, CEO and Co-Founder, "MicroGen is now poised to move into production of our piezoelectric platform devices on a major scale for initial applications in the industrial and commercial markets. The relationship with a strong semiconductor investment house enables us to reach markets more readily, and to have resources that will enable a faster ramp for MicroGen."
The company also announced that Mr. De Winter has become a Director of the company, the third and the first external director.
MicroGen is bringing to market a suite of products based on its proprietary MEMS-based piezoelectric platform technology at X-FAB Silicon Foundries' production facility located north of Hamburg, Germany. The first product is a small wafer-level packaged PZEH or micro-power generator. These low cost, long lifetime (>20 years) devices that scavenge otherwise wasted ambient vibrational energy will replace or extend the lifetime of batteries in low power wireless sensor applications. Other piezoelectric platform devices such as integrated sensors will be unveiled as well.