SemiSouth Laboratories Announces a New $8 Million Credit Facility Provided by Ritchie Technology and Life Science Finance.STARKVILLE, Miss. -- A leader in the development of silicon carbide silicon carbide, chemical compound, SiC, that forms extremely hard, dark, iridescent crystals that are insoluble in water and other common solvents. Widely used as an abrasive, it is marketed under such familiar trade names as Carborundum and Crystolon. (SiC) power semiconductors and electronic materials, SemiSouth Laboratories today announced that it has closed on a new $8 million credit facility with Ritchie Technology and Life Science Finance, a division of Ritchie Capital Finance, to fund receivable growth and to finance forward capital equipment requirements. "We're extremely pleased to have secured this financing, which will help position the company for future growth," said Dr. Jeffrey B. Casady, president of SemiSouth. "We are equally impressed with Ritchie Technology and Life Science Finance's depth of understanding of our business and our corporate finance needs. This credit facility will provide us supplemental working capital and flexibility as we implement various strategic initiatives." "Silicon carbide's ability to reduce heat emission within computing and vehicle environments and enable future design applications with positive operating and environmental impact in both commercial and military applications, we view as very compelling," said Gail Fitzpatrick, Managing Director, Technology & Life Sciences Finance Division for Ritchie Capital Finance, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . "We see SemiSouth as an emerging leader in this technology and are pleased to have been selected as their lender." For additional information about SemiSouth Laboratories, visit http://www.SemiSouth.com. About SemiSouth Laboratories An industry leader in the technological development and manufacturing of silicon carbide (SiC) electrical components and materials for high-power, high-efficiency, harsh-environment power management and conversion applications, SemiSouth provides discrete power devices, simple ICs, and thin film SiC epitaxy epitaxy Process of growing a crystal of a particular orientation on top of another crystal. If both crystals are of the same material, the process is known as homoepitaxy; if the materials are different, it is known as heteroepitaxy. wafers to commercial and government entities. Founded in 2000 and based in Starkville, MS, this privately-held company has a strategic alliance with Mississippi State University Mississippi State University, at Mississippi State, near Starkville; land-grant and state supported; coeducational; chartered 1878 as an agricultural and mechanical college, opened 1880. From 1932 to 1958 it was known as Mississippi State College. and its ongoing SiC research programs. SiC-based semiconductor devices offer significant advantages over competing products based on silicon, GaAs and other materials for power based electronic applications. About Ritchie Capital Ritchie Capital is a diversified alternative asset management firm established in 1997 with interests in hedge funds, commodities, private equity, specialty lending units, venture capital, insurance, energy and real estate and with offices in Chicago and Geneva Geneva, canton and city, Switzerland Geneva (jənē`və), Fr. Genève, canton (1990 pop. 373,019), 109 sq mi (282 sq km), SW Switzerland, surrounding the southwest tip of the Lake of Geneva. IL, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , London, Bermuda, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. and Menlo Park Menlo Park. 1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. , CA. For additional information, visit http://www.ritchiecapital.com. |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion