Frog Capital doubles stake in German silicon recycling company SiC Processing

23 June 2009

London-based cleantech investor Frog Capital has doubled its stake in German recycling company SiC Processing through the purchase of holdings from other shareholders.

Established in 2000, SiC Processing operates in the recycling and supply of the wafer cutting fluids used to produce silicon wafers for solar panels and semiconductors. The company has production sites in the US, China, Germany, Norway and Italy.

SiC Processing raised €53m in a financing round led by Merrill Lynch and Zouk Ventures in 2007, and expects revenues approaching €100m this year, according to a statement.

Iyad Omari, who leads Frog’s cleantech investments, said, ‘We are delighted to be raising our stake in SiC Processing. The Company has performed very well since our investment in 2007 and is a shining example of the profitable growth that can be achieved in cleantech.’

Frog’s cleantech portfolio comprises companies in rapidly developing and sustainable sectors, ranging from industrial waste recycling to water treatment, energy and energy efficiency.

Frog Capital rebranded earlier this year at the same time as increasing its funds for investment from €60m to €100m.

While the size of its new investment in SiC Processing is not being disclosed, Frog leads or works in partnership on deals from between €2m to €20m with growth stage companies.

Copyright © 2009 NewNet

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

This story was published on Tuesday, June 23rd, 2009 at 10:17 am and is filed under Europe, deals, 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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