Established in 2000, SiC Processing is the global leader in the management and recycling of used slurry from the solar and semiconductor wafer industries. The Company currently owns and operates recycling plants in Germany, Norway, Italy, USA and China. It applies its patented technology to recover silicon carbide and polyethylene glycol required in the wafer cutting process, generating substantial cost savings for its customers. The Company has also developed logistical solutions for storage and transportation of used and ready-to-use slurries.
Thomas Heckmann, CEO of SiC Processing, said, “We are delighted with the commitment from our new investors and are keen to leverage their experience to broaden our international operations. We are busy putting expansion plans against long-term customer contracts and this financing round will clearly support our efforts.”
Dr. Alois Flatz, Partner at zouk ventures, said, “We have been following SiC Processing for some time and have been impressed by their unique technology, focused delivery model and strong customer base. The Company fits well into our Cleantech investment approach, which is focused on proven technology companies with strong growth rates in large underlying markets. This is an impressive company and we look forward to working closely with the team.”
This deal is one of Europe’s largest Cleantech growth deals in 2007.