Silecs Raises US$16 Million of Venture Capital Funding for Int…

SINGAPORE, May 18, 2011 /PRNewswire-Asia-AsiaNet/ –

Singapore’s EDBI Leads Series E Investment Round

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

SOURCE Silecs International Pte Ltd