Silecs Raises US$16 Million of Venture Capital Funding for International Expansion

Singapore's EDBI Leads Series E Investment Round

SINGAPORE, May 18, 2011 /PRNewswire-Asia/ -- Silecs International Pte Ltd, a venture-backed developer and manufacturer of advanced Siloxane polymers, announced today the closing of a new US$16M Series E financing round. Having more than trebled its revenues in two years with its cutting edge semiconductor materials, Silecs is now poised to expand its research, production, and customer support capabilities from its traditional base in Finland into Asia, where it has established its new corporate headquarters in Singapore.

Singapore's leading global fund, EDBI (EDB Investments Pte Ltd), led the investment round with strong support from established European investors Tempo Capital Partners, Innovations Kapital, and Finnish Industry Investment.

Mr. Teo Kok Whee, CEO of Silecs International commented: "Silecs has become an acknowledged pioneer in advanced electronic materials, enabling customers' processes with our nano-engineered polymers.  We appreciate the confidence bestowed on us by the world's leading semiconductor makers.  Today, we also acknowledge the confidence shown by both our current investors and EDBI.  This new funding will greatly enhance Silecs' global operational capabilities, and accelerate our technology development to address the fast emerging needs of electronic world, especially that of advanced packaging and opto-electronic applications."

Ms. Chu Swee Yeok, CEO of EDBI, who joined the Board, said: "Silecs' traction with its customers is notable, given the stringent qualification cycle of the semi-conductor industry. Locating its global headquarters and production capabilities in Singapore will significantly strengthen its Asian presence, while its synergistic collaboration with A*STAR's Institute of Microelectronics will advance its Siloxane polymers as enablers for a wider range of applications, including in clean technology. Silecs will also be able to leverage EDBI's international networks to become a leading player in the electronic materials sector."

About Silecs International

Silecs develops and produces advanced polymers for use in semiconductor mask-making, fabrication and packaging, as well as in displays and solar applications.  With major customers in Korea, Taiwan, Japan, Singapore, the US, and Europe, its state-of-the-art research and production capabilities have propelled it rapidly to the leading edge of microelectronics. It is headquartered in Singapore, with major offices also in Espoo, Finland.  

For more information on Silecs, please visit http://www.silecs.com.

About EDBI

EDBI (EDB Investments) is a leading strategic investment firm headquartered in Singapore with a worldwide presence investing to drive growth opportunities within the knowledge and innovation-intensive sectors of Biomedical Sciences, Clean Technologies, Internet & Digital Media, as well as other strategic industry clusters with commercial potential. As a value adding investor, EDBI creates sustainable and synergistic partnerships with its portfolio companies, leveraging on its broad network of resources and experience to facilitate the companies' growth in Asia and the world, through their operations in Singapore.

For more information on EDBI, please visit http://www.edbi.com.

Media Contact:
Sari Pietarinen
Email: Sari.Pietarinen@silecs.com
Tel:   +358 20 792 9818