Dutch venture capital investment fund Innovation Industries has added Tempress to its portfolio. The manufacturer of furnace and deposition equipment for semiconductor and solar applications was made an independent entity at the beginning of this year when former parent company Amtech failed to solicit satisfactory offers for the company. Amtech announced its intention to divest all of its solar activities in April 2019.
“We’re impressed with the people, products and knowledge at Tempress,” says newly appointed managing director Pieter de Groot. “With Innovation Industries as an investor, we can speed up our solution development and solidly grow our business with recently introduced platforms for semiconductor, solar and special coating industries,” he adds.
Innovation Industries is linked to the four Dutch technical universities and applied research institute TNO, and focuses on high tech, medtech and agritech. With the addition of Tempress, the fund’s portfolio now contains 16 companies.