A US-based semiconductor manufacturer with a manufacturing centre of excellence in west Belfast has secured funding which could allow it to float on the stock market.
It is largely thanks to a chance meeting with a London-based investor at the NI Investment Summit in September.
And the move is likely to create a major jobs boost for the IceMOS Belfast base at Hannahstown Hill.
IceMOS Technology, established in Arizona 2004 and which makes silicon wafers for devices ranging from IT servers, laptops, LED TV drivers and even electric cars, has secured vital pre-IPO funding, giving it a market capitalisation of $101 million (£80m) after floatation.
That will enable IceMOS to expand its Belfast team to more than 100 employees and increase its marketing and sales global footprint as it starts preparation for an initial public offering in the next 18 to 24 months.
“Our sensing and power technologies are paving the way for more energy-efficient and CO2-saving solutions that support decarbonisation,” according to Dr Samuel J Anderson, the company’s founder and chairman, a former Queen’s University MSc engineering graduate and who is originally from Ballymena.
“Adoption in applications such as artificial intelligence, assisted and autonomous driving, data center cloud and edge computing power supplies, rapid chargers for electric vehicles, Low Earth Orbit (LEO) satellites and deep space exploration, are at the tipping point, leading to dynamic market growth.
“Products based on our technology roadmap represent a new class of semiconductors, essential to serve the efficiency demands of this digital economy market.”
The connection between IceMOS and its would-be investor came at the Investment Summit, which hosted around 200 investors from across the world to visit Belfast with the aim of turbo-charging inward investment into the region.
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Secretary of State Chris Heaton-Harris said: “Congratulations to IceMOS and their London Investor on this productive new partnership.
“This fantastic multi-million-pound deal demonstrates the success of the Investment Summit, creating jobs and boosting investment into Northern Ireland.
“The event demonstrated Northern Ireland’s rich potential, and I’m confident the productive, global relationships it built will continue to benefit businesses and communities here for years to come.”
Invest NI’s interim chief executive Mel Chittock added: “This announcement by IceMOS Technology reaffirms the success of the summit, which laid the foundations for new partnerships to be forged.
“This deal will provide significant benefits for west Belfast and the Northern Ireland economy as a whole with IceMOS’ workforce exceeding 100 employees post funding.
“It will also function as a transformative catalyst for IceMOS’ ongoing growth, further cementing its position in the global semiconductor industry.”
IceMOS Technology is a global supplier of high-quality sensing and power technologies that are paving the way for energy-efficient solutions in power electronic systems.
As well as its manufacturing centre of excellence in Belfast, it has an advanced research innovation centre in Tempe, Arizona, and a design center in Tokyo, Japan.
