Launch of NanoVance, New MEMs and Nanotechnology Device Developer - News Item

A team of veterans from the nanotechnology field and the micro-electro-mechanical systems (MEMS) and semiconductor industries, today announced the launch of NanoVance Inc., a company that integrates those technologies to provide  nanodevices.

NanoVance’s business model uniquely addresses the challenges of commercializing nanodevices, such as the high costs of design and fabrication. Bringing an unprecedented level of cohesion to these fragmented industries, the company utilizes its network of best-in-class partners to design, develop, manufacture, package and test its customers’ devices.

NanoVance’s management team includes two former executives of the New Jersey Nanotechnology Consortium (NJNC), a former leader of Rosemount Inc.’s MEMS technical development and fabrication programs, and executives with nearly 100 years of combined experience in the semiconductor industry.

“We give both engineers and entrepreneurs the means to bring viable nano-device ideas to the marketplace,” said Ellery R. Buchanan, chairman, chief executive officer and co-founder of NanoVance. “Until now, limited resources and cost barriers have stalled many potentially successful nano projects. Our business model leads customers past those barriers and positions us as the ‘go-to’ device maker for this rapidly emerging technology market.”

Buchanan is the former executive vice president of the NJNC. He also was the founder, chairman and chief executive officer of Integrated Solutions Inc. He led that company to sales of $75 million and 330 employees. He also is a former senior vice president of marketing and corporate development for Ultratech Inc., which purchased Integrated Solutions in 1998.

Daniel S. Nelson, president, chief operating officer and co-founder of NanoVance, noted that the company leverages the fab capacity and technical expertise of its partners to develop and manufacture customer devices.

“This unique approach enables NanoVance to cost-effectively offer a suite of technical resources unmatched in the industry,” Nelson said. “Our business model mitigates risk for our customers by properly matching the need with the resources - with NanoVance taking full responsibility from design through packaging.”

Nelson, who most recently was director of strategic marketing and corporate development for August Technology Inc., served for nine years with Rosemount Inc., leading its MEMS technical development and fabrication programs for military and aerospace applications.

Larry Thompson, the former chief executive officer of the NJNC, is NanoVance’s chief technology officer. He worked in Bell Labs for 25 years, and holds 28 patents in the areas of semiconductor processing and materials engineering.

NanoVance initially will focus on several high growth areas: medical/biotech, IT and data storage, and wireless communications. Devices developed for these industries also will have potential applications in defence, aerospace, automotive and consumer technologies.

Posted 27th April 2004

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