Rubicon Technology Raises $9.5 Million

July 26, 2002
CHICAGO, IL, July 26, 2002 -- Rubicon Technology, Inc., a Chicago-area manufacturer of exotic optical-grade materials for the optoelectronics market, raised $9.5 million in its second round of investment. The investment was syndicated by four leading venture firms

CHICAGO, IL, July 26, 2002 -- Rubicon Technology, Inc., a Chicago-area manufacturer of exotic optical-grade materials for the optoelectronics market, raised $9.5 million in its second round of investment. The investment was syndicated by four leading venture firms, including international venture capital firm Cross Atlantic Capital Partners, Chicago-based KB Partners, Cincinnati-based River Cities Capital Funds, and lead investor, Indianapolis-based Gazelle TechVentures.

Rubicon will use the funds to continue to expand production of single crystal sapphire substrates-materials used in the manufacturing of optoelectronic devices, as well as compound semiconductors, and optical and laser applications. Specifically, Rubicon will use the funds to meet market demands by increasing its production capabilities and furthering its technology development of larger diameter sapphires and new exotic materials.

Single crystal sapphire substrates-commonly used in light emitting diodes or LEDs for public signage and video displays-also are used in products expected to replace white light and incandescent light bulbs and will be available to consumers within the next three years.

LEDs have the potential to capture significant market share of the general illumination market because of their durability and significantly lower energy consumption. Sapphire materials also are increasingly used in the defense industry because of their optical properties and resistance to heat, impact, and chemical abrasion.

Rubicon Technology is a materials science solutions provider in research, manufacturing, marketing, and distribution of high-quality single-crystal sapphire and other advanced technology materials. Chicago manufacturing facilities house the company's crystal growth furnaces, state-of-the-art fabrication equipment, and the latest quality control methodology. Rubicon, founded in 1995, provides materials to the opto-electronics, compound semiconductor, optical and laser, semiconductor fabrication, and telecommunications market.

For more information, go to www.rubitech.net.

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