European venture capital firm Cleantech Invest ups stake in SiC Processing

17 November 2009

Cleantech Invest, a Berne and Frankfurt stock exchange listed venture capital fund focusing on cleantech investments in the German-speaking region, has increased its stake in SiC Processing.

SiC Processing operates in the recovery and processing of sawing slurry in the wafer production for the photovoltaic and semiconductor industries. The company’s recycling process helps wafer manufacturers to reduce production costs and reduces the disposal costs for used sawing slurry. Established in 2000 in Hirschau, Germany, the company has production facilities in the US, China, Germany, Norway and Italy.

SiC Processing is currently expanding its global processing capacity and said that it expects revenues of approximately €100m in fiscal year 2009.

Cleantech Invest has been a shareholder of SiC Processing AG for almost two years. Through the purchase of additional shares from an existing shareholder, the fund was able to double its stake in SiC Processing and has now invested a total of €1.19m in the company.

Thomas Heckmann, CEO of SiC Processing AG, said, ‘We appreciate the confidence of Cleantech Invest and are confident to achieve our ambitious goals with the support of our investors.’

Jürgen Habichler, chairman of the board of directors of Cleantech Invest, added, ‘We are very pleased with the development of the company since our initial investment nearly two years ago. The business model of SiC Processing contributes to cost reduction in the photovoltaic industry and as a global market leader in their field the company is very well positioned.’

Mountain Cleantech is headquartered in Waedenswil/ Zurich, and is the investment advisor of Cleantech Invest, and was was founded in the beginning of 2007.

Copyright © 2009 NewNet

Tags: photovoltaic, private equity, recycling, solar, venture capital

This story was published on Tuesday, November 17th, 2009 at 10:16 am and is filed under Europe, deals, energy efficiency, solar. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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