Contact Information: Contact: Layla McHale for Crocus Technology (408) 981-6394
Crocus Announces New Investor: Holding Entreprises et Patrimoine
| Source: Crocus Technology
SUNNYVALE, CA--(Marketwire - June 18, 2009) - Crocus Technology, a premier
developer of Magnetic Random
Access Memory (MRAM), today announced that Holding Entreprises et
Patrimoine, a French investment Company, has made an initial investment
into the company. The proceeds of Entreprises et Patrimoine's 1.3 million
Euros investment will be used to support Crocus' development and market
introduction of its first MRAM products.
Crocus simultaneously announced that manufacturing partner Tower
Semiconductor has also made an equity investment of $1.25 million in the
company. Taken together, both investments add more than $3 million to
Crocus' balance sheet.
"The attention and support of Entreprises et Patrimoine reaffirms our
confidence in the production worthiness of our MRAM technology and in our
understanding of the magnitude and characteristics of the MRAM market,"
said Jean-Pierre Braun, founder and CEO of Crocus Technology. "This is a
very exciting time for Crocus having recently closed a comprehensive
foundry agreement and additional investment with Tower Semiconductor."
"Crocus has demonstrated significant progress in the development of its
proprietary MRAM technology and we are impressed with the work they are
doing to bring this to market," said Christophe Bavière, President of
Entreprises et Patrimoine. "In this difficult economic climate, Crocus
represents an excellent balance of risk and potentially high reward."
About Magnetic Random Access Memory
MRAM's unique characteristics make it particularly suitable to a wide
variety of telecommunication, networking, computing and handheld
applications currently using SRAM and/or flash memory technology. It is the
only proven new memory technology providing non-volatility,
unlimited-write-endurance,
high-density, and symmetrical read / write
high-speed. It is particularly
well-suited to applications requiring high data reliability and high
performance, and has the unique potential of becoming the universal
embedded memory technology for systems-on-chip devices.
About Crocus
Crocus Technology is an early-stage developer of MRAM technology for dense,
non-volatile, high-speed, scalable RAM memories. Its MRAM technology was
conceived in the Grenoble-based Spintec laboratory, a world leading R&D
center in Spintronics affiliated with two famous French labs, CEA and CNRS.
Crocus' MRAM technology is covered by a comprehensive patent portfolio. The
company licenses its technology for standalone and embedded chip
applications in a wide variety of telecommunication, networking, storage,
computing and handheld applications. Crocus is backed by VC firms AGF, CDC
Enterprises, NanoDimension, Sofinnova Partners, Sofinnova Ventures, and
Ventech and has operations in Grenoble, France, and Sunnyvale, California.
For more information, please visit www.crocustechnology.com.
About Entreprises et Patrimoine
Holding Entreprises et Patrimoine is a French investment company with EUR
10 M of equity that was launched in may 2009. It will invest into small and
medium companies across Europe in the ICT, Health and Cleantech sectors.