Reno Sub-Systems (Reno) today announced that it has closed its first venture funding round with Intel Capital, early stage Canadian venture capital organization Innovacorp and other investors. Support from these investors will help Reno’s efforts to bring innovative technologies to market and enable next generation advanced semiconductor manufacturing process technology nodes.
Reno designs, develops and delivers sub-systems used to control process systems made by Original Equipment Manufacturers (OEMs), including vacuum-based chambers to deposit and etch specialty materials needed in advanced integrated circuit (IC) fabrication. Reno’s initial sub-system offerings provide RF-power generation and matching, process gas delivery and high-vacuum process control that radically changes the processing speed, range, development and total cost of ownership.
“Reno impresses us as a young company working to advance Moore’s Law,” said Bob Bruck, vice president and general manager of Global Supply Management at Intel. “We are pleased to support their efforts to develop innovative solutions for semiconductor capital equipment sub-systems.” Intel Capital’s investment was led by director Sean Doyle.
“Demand for integrated circuits continues to grow exponentially. Reno has developed evolutionary technologies that allow semiconductor manufacturers to fulfill market demand – faster and at a lower cost than the competition,” said Gregory Phipps, managing director of investment at Innovacorp. “Innovacorp is excited to join Intel Capital in supporting Reno and its growth and commercialization objectives.”
“We are very grateful that our investors understand and support our vision to create radically better solutions to address the manufacturing challenges facing the global micro-electronics industry,” said David Ferran, chief executive officer of Reno and a 34-year-veteran of the IC manufacturing industry. “New materials, new device structures and productivity excellence require new approaches to reduce costs and improve yields. The value proposition put forth by Reno’s founders is centered on the use of new technologies to lower system cost while also enabling next-generation performance.”
About Intel Capital
Intel Capital, Intel’s global investment organization makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, health, consumer internet, digital media and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$11 billion in over 1,400 companies in 57 countries. In that timeframe, 209 portfolio companies have gone public on various exchanges around the world and 363 were acquired or participated in a merger. In 2013, Intel Capital invested US$333 million in 146 investments with approximately 49 percent of funds invested outside North America. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com or follow @Intelcapital.
Based in Halifax, Innovacorp is Nova Scotia’s early stage venture capital organization. Its fund targets emerging Nova Scotia-based companies in the information technology, clean technology and life sciences industries.
About Reno Sub-Systems
Reno is an emerging company focused on new and disruptive technologies for semiconductor and other advanced micro-electronic industries. Reno’s core technologies include Vacuum Instrumentation, RF Power & Matching Systems, and Gas Delivery Systems. Reno’s global headquarters is located in Nova Scotia, Canada; its U.S. headquarters is located in San Diego; and Reno’s technology development centers are located in New Jersey, California, and Nevada. For more information on Reno Sub-Systems, please visit www.renosubsystems.com.
For more information, contact:
Bedford, Nova Scotia, November 5, 2014