Birmingham University spin-out Irresistible Materials (IM), a UK-based materials tech firm, has raised an additional £290k ($440k) in funding and announced a new chairman.
The latest funds come from a combination of investing shareholder Mercia Fund Management as well as new angel investors from both the UK and the US.
The new chairman, Stuart McIntosh, comes from a semiconductor background with 40 years in the sector. He was previously president of semi-conductor tools supplier ASML.
Stuart McIntosh said: “The semiconductor industry has spent many billions developing EUV technologies for 2016 production lines. Recently, ASML, the largest supplier of lithography tools to the global semiconductor markets, publically announced a significant investment by three of the largest semiconductor companies in the world to support R&D programmes necessary to produce the technologies the industry has laid out in the road map for lithography. IM has one of these critical technology components for EUV chip production and I’m pleased and excited to be working with this team of highly motivated people, who have successfully developed a leading technology using Fullerene materials and structures. ”
IM was founded in 2010 to commercialise fullerene-based photo-resist technology developed at the University of Birmingham.
