Nextreme Thermal Solutions has announced securing $13 million in Series B financing. The round was led by Chart Venture Partners and included previous investors Redshift Venture Partners, Harris & Harris Group, Inc., In-Q-Tel and RTI International as well as Japan-based ITOCHU Corporation (JP:8001) and ITOCHU Technology Ventures, Inc.
The funding will be used to ramp Nextreme’s products into full production in 2009 in response to demand from the photonics and military markets, and to develop new products for the computing, consumer and mobile markets.
Nextreme is focused on solving the thermal issues that are becoming more widespread in the electronics industry. As an example, a major producer of graphics processors said recently that some of its notebook-use graphics chips failed because the packaging materials could not withstand the “extreme thermal environments” brought about by a combination of inadequate thermal management and frequent power cycling seen in notebook computers. This environment is particularly challenging for complex graphics processors. The company will take a one-time charge of $150M-$200M during its second quarter (2008) to resolve the problem with its customers.
