16th May 2008

Evince Technology is pleased to announce that it has secured seed funding worth £500,000 from NorthStar Equity Investors, Low Carbon Seed Fund, and Imperial Innovations.

Founded in 2004 Evince Technology has pioneered a semiconductor device with the potential to dramatically improve the performance of sustainable energy sources such as wind turbines and fuel cells by enabling the direct connection of power electronic systems to the main electricity grid, thereby driving down costs and improving efficiency. The technology reduces the power needed by motors which in turn significantly decreases CO2 emissions. Evince will use the investment over the next 12 months to further develop Intellectual Property relating to its proprietary semiconductor technology with a view to ultimately raising a series A investment.

Evince’s Commercial Director, Neil Loxley commented: “The effective utilisation of electrical energy at the point of transfer is now seen as a linchpin to the future of sustainable power. The semiconductor technology we are developing is inherently able to operate at grid voltages and could have a huge impact on the energy sector at the points of generation and utilisation.”