Energy & Critical Metals
CGD aims to build a sustainable world with £15.7m Series B funding
Cambridge GaN Devices (CGD), the fabless semiconductor company spun out of the renowned power device group at the University of Cambridge’s Engineering…
Cambridge GaN Devices (CGD), the fabless semiconductor company spun out of the renowned power device group at the University of Cambridge’s Engineering Department in 2016, has raised $19m (£15.7m) in Series B funding to accelerate mass production of its range of GaN transistors.
The investment was led by Parkwalk Advisors and BGF, with support from IQ Capital, CIC, Foresight Williams Technology, and Martlet Capital.
Dr Giorgia Longobardi, Co-Founder and CEO of CGD, said: “CGD is poised to become one of the leaders in enabling a sustainable world. As we move to a net-zero carbon society with rapidly increasing levels of electrification, we need clean, renewable sources of electricity and more efficient conversion methods.
“GaN provides the optimum conversion solution, reducing power losses by more than 50% and increasing energy conversion efficiency to above 99%.
“To take just one application example, if all data centres were to adopt GaN, this would save 12.4TWh of electricity per year or 9 million tons of CO2 – the equivalent of taking 1.9 million internal combustion engine vehicles off the road for a year.”
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CGD has already made significant progress developing new intellectual property and launching its new ICeGaN Gallium Nitride transistor family to address the $50bn (£41.2bn) global power semiconductor market.
The company is uniquely positioned to disrupt multiple industries such as consumer and industrial power supplies, lighting, data centres, and automotive Hybrid-Electric and pure-Electric vehicles. CGD’s innovative and easy-to-use technology provides efficient, sustainable, and more cost-effective power solutions for electronic equipment.
Dennis Atkinson, Investor at BGF, commented: “CGD has the power to help society significantly reduce its reliance on old fossil fuel burning technologies and move towards new energy-efficient solutions.
“Climate tech is at the heart of BGF’s growth strategy, and we’re excited to be providing further investment to CGD which will enable the business to deliver widespread production of its GaN transistor family and contribute to the global sustainability movement.”
The post CGD aims to build a sustainable world with £15.7m Series B funding appeared first on Business Leader.
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