GaN Secures Series A

Chrysalix Energy Venture Capital has backed GaN Systems, a provider of next generation power conversion semiconductors for cleantech applications. The firm’s investment from its CELP III Fund led the Series A round for the start-up and is joined by Rockport Capital.

PRESS RELEASE

Today, Chrysalix Energy Venture Capital, the world’s most active cleantech venture
capital firm in 2010, announced its investment in GaN Systems, provider of next generation power conversion semiconductors
for cleantech applications. The Firm’s investment from its CELP III Fund led the Series A round for the start-up and is joined by
Rockport Capital.
“At Chrysalix, we believe the time has come for gallium nitride to be a superior material
alternative to silicon for power electronics overcoming many of the limitations silicon
approaches face today. Now thanks to GaN Systems’ technology, cost parity is finally
possible paving the way for a future of improved power devices and renewable energy
solutions,” remarked Mike Sherman, Managing Director at Chrysalix. “We’re proud
to support a management team with a successful track record of company building and
exits, and believe we have found the right company and place to invest in the power
electronics value chain.”
GaN Systems is an Ottawa-based start-up building a product line of highly efficient,
low-loss diodes, transistors, and integrated systems. They also partner with other
semiconductor companies looking to leverage the strengths of gallium nitride using
their patented designs and layouts. The company’s unique island-based topology is
based on over 10 years of process research stemming from the National Research
Council of Canada and will lead to power devices that are smaller, more efficient, and
lower cost. For cleantech applications specifically where power conversion efficiency is
a key requirement, their semiconductor solutions improve the economics by reducing
energy conversion losses and increasing power production.
For further details on GaN Systems, please visit http://www.gansystems.com.
About Chrysalix Energy Venture Capital
Chrysalix is a venture capital firm investing in technologies that will drive the new energy economy. The firm provides earlystage
financing, hands-on assistance, and strategic connections to innovative companies confronting the world’s most
important energy and environmental issues. In the past few years, the firm has consistently ranked among the top most active
clean energy technology venture capital firms in the world. The Chrysalix team has an exceptional track record in this still
young industry. Collectively, it has over 100 years of experience in the energy industry and over 100 years in the venture
capital business. The firm is backed by a strong group of blue-chip international industrial and financial Limited Partners, and
is headquartered in Vancouver, British Columbia. In total Chrysalix has approximately $300M in assets under management
from CELP III and earlier funds. For more information, please visit www.chrysalix.com.

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