Odyssey Semiconductor Technologies has raised $5 million (1.25 million shares at $4.00 per share) in a common stock private placement to further fund the development and production of high-voltage vertically-conducting GaN power-switching devices. GP Nurmenkari, as consulted by Intuitive Venture Partners, acted as the exclusive placement agent.
“We welcome the new shareholders to Odyssey Semiconductor and their support in enabling more efficient and compact power conversion for applications such as electric vehicles,” said Alex Behfar, Chairman and CEO of Odyssey Semiconductor. “With the entire world focused on the adoption of clean energy and electric power, we’re excited about the advancements our technology can bring to the industry.”
Vertically-conducting GaN-based power devices outperform other devices fabricated using silicon (Si) and silicon carbide (SiC), but they have proven difficult to fabricate using standard methods. As a result, GaN power devices have been relegated to horizontal-conducting low-voltage, consumer electronics.
Odyssey has developed a proprietary GaN processing technology to produce high-voltage power-switching devices that will break down long-standing performance barriers for applications such as electric vehicles, solar inverters, industrial motors, and power grids.
The company plans to provide customers with engineering samples of the vertically-conducting GaN product and start qualifications under Joint Electron Device Engineering Council (JEDC) standard before the end of 2021.
Odyssey Semiconductor has also recently expanded its customer base using its foundry fabrication services. The Odyssey team has vast experience supporting diverse semiconductor applications, including power devices, integrated optoelectronics, chemical sensing, and spectroscopy. The Company provides support to its customers from prototype production to full foundry capabilities.
