SAN DIMAS, Calif., May 2, 2006 (PRIMEZONE) -- Wavestream (www.wavestream.com), a manufacturer of a new generation of compact high-efficiency solid-state power amplifiers, today announced a new round of funding in the amount of $28 million, led by Oak Investment Partners. Wavestream will use the new financing to expand their product line and move into new markets.
"We at Wavestream are pleased to have such a strong new partner," said Chris Branscum, Chairman and CEO of Wavestream. "The team at Oak Investment Partners are highly regarded strategists and investors. Their confidence and support highlights the strength of, and outlook for, Wavestream's products in communications, sensing systems and directed energy markets."
"Given the strength of their core technologies and the skill that management has demonstrated introducing attractive products into high-value markets, we at Oak believe Wavestream is well-positioned for significant growth," said David Walrod, General Partner of Oak Investment Partners. "The company's proprietary spatial power combining technologies and high-performance, small-footprint products have established Wavestream as a market leader."
Wavestream provides solutions for commercial and military applications, including satellite links, radar, terrestrial communications and directed energy. Wavestream's solid-state amplifiers use spatial power combining to provide high output power at higher efficiencies in more compact form factors than standard solid-state technology. Wavestream employs industry-standard, volume-capable manufacturing processes that keep product costs low. These features result in greater system link capability, reduced prime power and thermal loads, and smaller form factors in products delivered at attractive price points.
Wavestream's current product lines at Ku-band and Ka-band provide unparalleled solid-state efficiency and value. Wavestream continues to develop solid-state power amplifier solutions across a wide range of microwave and millimeter-wave frequencies with their Spatial Power Advantage(tm).
About Wavestream
Wavestream develops and produces high-power solid-state amplifiers that meet the needs of today's communications and sensing systems. Revolutionary spatial power combining technology enables higher amplifier output powers in smaller packages with greater efficiency and lower cost than previously possible. Wavestream currently offers industry-leading Ka-band and Ku-band SSPAs for satellite communications. At Wavestream, we are bringing solid-state solutions to systems requiring power, efficiency, and value with the Spatial Power Advantage(tm). For more information, please visit the company's website at www.wavestream.com.