August 15, 2006 – Synova, a privately held Swiss developer of water jet-guided laser technology, has secured an additional $8.1 million (CHF 10 million) in funding from Swiss banks, to help fuel its push to create several micromachining centers in key high-tech regions around the world.

Synova claims to have more than 50 of its flagship MicroJet machines running in full production at 30 different customer sites, and is seeking to develop the localized centers to enable faster, more responsive support for customers. The funding will also allow the company to address other industries and applications for its technology.

The company’s “laser microjet” technology replaces traditional cutting technologies such as conventional lasers and diamond blade saws, for applications in inkjet print head MEMS, HDDs, and OLEDs to help prevent damaging the materials due to their thermo-mechanical stress sensitivity. Synova is positioning its water-driven laser vs. competitive techniques for high-speed slotting of silicon wafers to be diced into barrier chips for inkjet print heads, touting cutting times of 2.6 sec/slot and with no damage.

Last month Synova said it is preparing to open a micromachining center in Silicon Valley by early 2007, to tap into local growth markets including inkjet printer head MEMS, hard disk drive (HDD) and organic light emitting diodes (OLEDs). The company forecasts compound annual growth rates (CAGR) for inkjet printer head MEMS and HDDs at 8.8% through 2008 and 15.5% through 2009, while OLEDs are seen growing by 74% over the next year.