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WHO’S GETTING THE CASH IN NANOMANUFACTURING?

WHO’S GETTING THE CASH IN NANOMANUFACTURING?. Douglas W. Jamison Harris & Harris Group, Inc. One Rockefeller Center, Suite 1430 New York, NY 10020 (212) 332-3600 doug@TinyTechVC.com. PRESENTATION:. 1.) Present a framework in which to think about nanomanufacturing investments.

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WHO’S GETTING THE CASH IN NANOMANUFACTURING?

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  1. WHO’S GETTING THE CASH IN NANOMANUFACTURING? Douglas W. Jamison Harris & Harris Group, Inc. One Rockefeller Center, Suite 1430 New York, NY 10020 (212) 332-3600 doug@TinyTechVC.com

  2. PRESENTATION: 1.) Present a framework in which to think about nanomanufacturing investments. 2.) Comment on where some of the established firms are focusing. 3.) Comment on the survey of nanomanufacturing firms. 4.) Revisit the framework of investment opportunities.

  3. FRAMEWORK: Why is presenting a survey of firms important? • First, it provides a visual picture to help an investor or start-up map the landscape and develop a strategy. • Second, it allows you to guard against capital market myopia. • Third, it provide investors and start-ups with a set of companies to compare against when deciding if their start-up has the right type of technology to be successful in its specific industry dynamic.

  4. SURVEY SUMMARY: • Approximately 115 “Tool Companies” in the database at this point. • Approximately 20+ are considered “incumbents.” • Approximately 90 + are start-ups, small firms, or firms with a new division focused on nanomanufacturing. • 14+ companies focused on SEMs and TEMs. • 34+ companies focused on SPMs. • An additional 12+ firms supplying accessories for SPMs. • 18+ Lithography companies • 5+ in NIL; 5+ in E-Beam; 2+ in EUV; 1 in X-ray lithography • 6+ companies focusing on self-assembling manufacturing.

  5. CURRENT FIRMS DEVELOPING NANOMANUFACTURING CAPABILITIES: “THE INCUMBENTS”

  6. COMPANY: WEB SITE: TECHNOLOGY: Applied Materials Inc. http://www.appliedmaterials.com/about/index.html Manufactures wafer fabrication equipment with CVD and PVD steps. Inspection and metrology equipment. ASM Lithography Holding NV http://www.asml.com/NASApp/asmldotcom/show.do?GXHC_JSESSIONID=383da70197aa2e53&rid=1839&ctx=238 Lithography techniques for Silicon integrated circuits. Research electron/ion and extreme UV lithography with resolutions below 100nm. Canon http://www.canon.com/technology/index.html X-ray lithographic technology with resolution of 130nm by 2003 and 100nm by 2005. FEI Corp. http://www.feicompany.com/eng/products/list.html Manufactures products based on focused charged particle beam technology including TEMs, SEMs and focused ion beam systems. HP http://www.hpl.hp.com/ Research into soft lithography. HP’s Quantum Science research group is working on a molecular electronics program for defect tolerant architectures. Hitachi Scientific Instruments http://www.hii-hitachi.com/ Supplies SEMs, focused ion beam milling systems, TEMs, and electron beam lithography systems. JEOL http://www.jeol.com/products.html Manufacture a variety of material analysis instruments including SEMs and TEMs.

  7. JMAR Technologies Inc. http://www.jmar.com/prod.html Produce programmable, high resolution, AFM- based integrated inspection systems for semiconductors, biochips, and hard disks. Laser and X-ray source and the positioning systems are proprietary to JMAR. KLA-Tencor Corp. http://www.kla-tencor.com/products/browse.html Manufactures yield management solutions, process monitoring systems, and tools to identify defects. LEO Electron Microscopy http://www.leo-em.co.uk/ Manufacture SEMs and TEMs. Zeiss subsidiary. NEC http://www.nec.com/global/rd/index.html R&D projects include electron beam nanolithography and atom holography. Nikon http://www.nikonusa.com/usa_category/category_instr.jsp Electron projection lithography and AFM applications. Novellus Systems Inc. http://www.novellus.com/products/prosetup.asp Manufactures automated wafer fabrication systems for thin film deposition. Provides CVD, PVD, photoresist and residual removal. Olympus http://www.olympus.com/global/industrial_global.htm Produce cantilever tips for scanning tip microscopes (STMs) and near field optical microscopes.

  8. Rudolph Technologies Inc. http://www.rudolphtech.com/products/index.html Manufactures process control metrology systems including a metrology line for opaque and transparent films. Seiko Instruments http://www.sii.co.jp/info/eg/index.html Manufactures analytical equipment including scanning probe microscopes, focused ion beam machines and SEMs. Ultratech Stepper Inc. http://www.ultratech.com/products/index.shtml Manufactures photolithography equipment. Veeco Instruments Inc. Digital Instruments http://www.veeco.com/html/product_bymarket.asp Manufactures process equipment and metrology tools including etch and deposition systems and surface measurement systems. DI manufactures scanning probe microscopes, AFMs, near field scanning optical microscopes, and related peripherals. Zeiss http://www.zeiss.com/us/home.nsf/Contents-FrameDHTML/F2F21D215D97061C85256CAD0054C9B3 Manufacturer of optical microscopes, SPMs and SEMs. LEO is a subsidiary.

  9. CURRENT FIRMS DEVELOPING NANOMANUFACTURING CAPABILITIES: “THE UP AND COMING?”

  10. COMPANY: LOCATION: WEB SITE: MARKET SPACE: TECHNOLOGY: INVESTORS: MicroMagnetics Fall River, MA http://www.micromagnetics.com/ Analytical Equipment Employs magnetic fields generated by a current to determine the amount of current in a circuit on an IC. Sensitivity approaching SQUID and can resolve features smaller than 50 nm. Nano-Or Israel http://www.nano-or.com/ Analytical Equipment Non-contact, non-destructive 3-D measurement system. Company has incorporated interferometer metrology performance into a white-light microscope. First round investment funds from Jerusalem Global Ventures, STI Ventures, Dellet VC, and private investors Burleigh Analytical Equipment Manufacturer of instruments for testing, measurement and automation in the photonics market. Produces positioning systems with nanometer precision. Cameca Analytical Equipment Develops instrumentation for surface and interface analysis and microprobes. Evotec Biosystems UK and Germany http://www.evotecoai.com/servlet/page?_pageid=77&_dad=portal30&_schema=PORTAL30 Analytical Equipment Development of single molecule spectroscopy Image Metrology Denmark http://www.imagemet.com/ Analytical Equipment Produce software for Scanning probe microscope data and analysis. Integrated Nanosystems, Inc. Sunnyvale, CA http://intnano.com/ Analytical Equipment Bio application Developed a process for the manufacture of a carbon nanotube probe for use in semiconducting metrology and the biomedical market Jasco Corp. Japan http://www.nni.nikkei.co.jp/FR/AWG/recs/JPManuf0033929.html Analytical Equipment Manufacturer of analytical instrumentation with an emphasis on advanced optical systems. Micro Materials Burr Ridge, IL http://www.micromaterialsresearch.com/ Analytical Equipment Manufacturer of mechanical testing instruments at nano and micro scale, especially nanoindentation, scratch and impact testing. Photometrics Inc. Huntington Beach, CA http://www.photometrics.net/ Analytical Equipment Laboratory dedicated to solving production and failure analysis. Ion TOF Germany http://www.ion-tof.com/ Analytical Equipment. Manufacture secondary ion mass spectrometry systems.

  11. Positron Systems Inc. Boise, ID http://www.positronsystems.com/ Metrology and Inspection Tool Non-destructive technology for identifying nanoscale defects called Photon Induced Positron Annihilation System. Rave LLC Delray Beach, FL http://www.ravellc.com/careers.html Metrology and Inspection Tool. Developing a scanning probe microscope tool for mask and semiconductor repair. Nano World Technologies Metrology/ Inspection Tool Electron beam nanolithography used to inspect and repair semiconductor photomasks. Nanometrology New York Metrology/ Inspection Tool CD-SEM calibration and line-edge roughness metrology tool to help technicians calibrate multiple CD-SEMs for increased yields. NLine Corp. Austin, TX http://www.nline.com/ Metrology/ Inspection Tool Digital holography to peer into narrow and deep spaces such as contacts and trench capacitors on semiconductor wafers. Tool detects defects that are smaller than the wavelength of deep ultraviolet light. Targeted at 90 nm process technology. $7.4 million second round included Advanced Micro Devices, Hat Creek Partners, Intel Capital, Sensor Technology Development Fund, SG Cowen Venture Partners, TAT Capital Partners Ltd., and Thomas Weisel Partners. The $7.4 million raised brings the total equity investment in nLine to $18.4M. Therma-Wave SanFrancisco, CA http://www.thermawave.com/ Metrology/ Inspection Tool Develop a real time, critical dimension system to scatterometrically measure 130 nm photoresist features for polysilicon gate and shallow trench applications. Established since 1982 Hysitron Minneapolis, MN http://www.hysitron.com/ Metrology/ Inspection Tool Manufactures nanomechanical testing instruments especially tailored to measure hardness, elastic modulus, friction, wear resistance, fatigue, nanoscratch and indentation.

  12. Zyvex Corporation Richardson, TX http://www.zyvex.com/ Molecular Self-Assembly Assembly-based systems approach to integrating macro, micro and nanodevices, with a strong emphasis on self-assembly. Released S100 Nanomanipulator System for positioning and testing tools for nanotech research and development applications. Molecular Electronics Corp. Hilton Head, SC http://www.molecularelectronics.com/ Molecular Self-Assembly R&D company working on commercializing nanoelectronics with their main focus on self-assembly $7.65 million originally from Angel investors. NanoFrames LLC Boston, MA http://www.nanoframes.com/ Molecular Self-Assembly Perform research on the use of rod-like tails of viruses for building blocks in nanoscale self-assembly. Nanolayers Israel http://www.nanolayers.com/about.shtml Molecular Self-Assembly Developed a proprietary organic thin-film technology for the enhancement of microelectronic components. Millenium Materials Technology Fund Nanosys Inc. Palo Alto, CA www.nanosysinc.com Molecular Self-Assembly Synthesize 0 and 1 dimensional nanostructures for applications in photovoltaics, macroelectronics, and chemical sensing. ARCH Ventures, CW Group, Polaris ventures, Venrock Associates, etc. Mound laser and Photonics center Miamisburg, OH http://www.mlpc.com/ Micromachining Develop applications for laser micromachining and fabrication.

  13. Molecular Imprints Austin, TX http://www.molecularimprints.com/aboutmi.html Nanoimprint Lithography Step & Flash Imprint Lithography. Imprio 100 has a price tag of $2 million. $12 million in VC funding from Alloy Ventures, Asset Management, DFJ, Huntington Ventures, KT Venture Group, Lam research and Motorola Ventures Nanonex Corp. Princeton, NJ http://www.nanonex.com/ Nanoimprint Lithography Shipping nanoimprint lithography tools ranging in price from $300-700K. undisclosed Obducat AB Malmo, Sweden http://www.obducat.com/sida_2.asp Nanoimprint Lithography Develop and supply technologies for the production of advanced micro and nano structures for research and manufacturing including electron beam writers, electron microscopes and nanolithography. Sold 5 pilot production NIL machines with 20-25 to be delivered to customers in 2003. Public company EV Group Austria http://www.evgroup.com/products/hotembossing.htm Nanoimprint Lithography A semiconductor and MEMS production equipment maker. EV Group has three nanoimprint lithography systems, the hot embossing device that works at high temperatures and precise pressure, a device that solidifies the polymer material with UV light and a microcontacting printing process that uses a flexible stamp to deposit patterns on surfaces with existing topographical features. LumArray Cambridge, MA http://www.lumarray.com/index.htm Next Generation Lithography Maskless zone plate array lithography controlled by Microsystems. Technology is extendable to 10-20 nm. Advantest Japan http://www.advantest.co.jp/products/en-index.shtml Next Generation Lithography Manufacture electronic measuring instruments, automatic test equipment and electron beam lithography systems for ICs. AMO GmbH Germany http://www.amo.de/amo/welcome_en.html Next Generation Lithography Develop interference lithography and nanoimprint technology NanoInk Chicago, IL http://www.nanoink.net/home.html Next generation Lithography AFM based dip-pen lithography* Raised approximately $6 million Galway partners and Lorie Investment Fund

  14. Quantiscript Canada http://www.quantiscript.com/english/intro.htm Next Generation Lithography E-Beam Developer of electron beam lithography. Raith GmbH Germany http://www.raith.de/intro.html Next generation Lithography E-Beam Manufacturer of electron beam lithography systems. JC Nability Lithography Systems Next Generation Lithography – E beam Manufacture an interface for performing e beam lithography with SEMs and STMs. Applied Physics Technologies Inc. Next Generation Lithography – E-Beam Produces metal carbide tips that emit a thin beam of electrons with potential for use in electron beam lithography. Mapper Lithography Delft University http://www.mapperlithography.com/ Next generation Lithography - Electron Beam Lithography Technology based on a combination of e-beam writing and conventional optical imaging that enables high resolution and high-speed lithography without a conventional photomask. Designed pattern is imaged on a converter plate rather than on the wafer directly. Developing a wafer stepper for 22-45 nm semiconductor lithography. July, 2001 $2.2 million from Residex Venture Capital Network and Delft University. In August 2002 KT Ventures also invested. Molecular Robotics Robotic manipulation Researching conversion of the atomic force microscope into a production robot with atomic manipulation capabilities. Chemat Technology Northridge, CA http://www.chemat.com/ Self-Assembly via sol-gel Manufacture and sell a wide range of precursor materials for sol-gel. They have developed a new form of anti-reflective coating using a sol-gel based spin-on process.

  15. Imago Scientific Instruments Corp. Madison, WI http://www.imago.com/# Imaging and Manipulation Developing proprietary Nanolytical™ equipment to meet the characterization needs of the nanotechnology revolution. Imago’s premier product, the LEAP™ microscope, provides unsurpassed three-dimensional materials analysis at the nanoscale. $7 million in VC funding from DFJ, Infineon Ventures, Draper Triangle Ventures, Stanford Management Company Nanoscience Instruments Inc. Phoenix, AZ http://www.nanoscience.com/ Imaging and Manipulation Scanning probe image processor product permitting researchers to add 3-D animation tools to scanning probe microscope images. National Instruments worldwide http://www.ni.com/ Imaging and Manipulation Bio applications Manufacture a piezo tuning wizard for motion control. Permits developers to easily tune and control piezo-based motors for high-precision applications such as wafer alignment and biotech microarray handling. Nion Co. Kirkland, WA http://www.nion.com/ Imaging and Manipulation Specializes in precision optical instrumentation such as aberration correctors, imaging filters, slow scan CCD cameras, parallel electron energy loss spectroscopy and STMs. Established for some time 3rdtech Inc. Chapel Hill, NC http://www.3rdtech.com/ Imaging and Manipulation Produces the NanoManipulator, a set of virtual reality interface tools for TM scanning probe microscopes. Accurion Menlo Park, CA http://www.accurion.com/ Imaging and Manipulation Produces AFMs, SPM and some optical measurement instruments Adept Technology Livermore, CA http://www.adept.com/main/index.html Imaging and Manipulation Producer of nanopositioning equipment Angstrovision California http://www.angstrovision.com/ Imaging and Manipulation Exploiting interferometry to allow rapid-frame-rate 3-D imaging at nanoscale. Arryx Chicago, IL http://www.arryx.com/home.html Imaging and Manipulation Bio applications Develops and commercializes a technology for the manipulation of nano-objects with focused beams of laser light. Raised $7.2 million from DFJ, Fahnestock Fund and ARCH Development Fund

  16. Asylum research Santa Barbara, CA http://www.asylumresearch.com/ Imaging and Manipulation Seller of scanning probe microscopes and related materials. Atomic Force F&E GmbH Germany http://www.af-fe.de/ Imaging and Manipulation Producer of microscope accessories such as cantilevers, SEM accessories, surface profile measuring instruments and layer thickness measuring instruments. Attocube Systems Germany http://www.attocube.com/ Imaging and Manipulation Develops nanopositioning actuators Atos Imaging and Manipulation Surface topography equipment seller – AFM, near field scanning optical microscopes, SPM and nanoindenter. BioForce Nanosciences www.bioforcenano.com Imaging and Manipulation Bio applications Developer of AFMs for biological applications. Camscan Electron Optics Great Britain http://www.camscan.co.uk/ Imaging and Manipulation Manufacturer of SEMs. Danish Micro Engineering DME Denmark http://www.dme-spm.dk/ Imaging and Manipulation Manufactures AFMs and near field scanning optical microscopes. Focus GmbH Germany http://www.focus-gmbh.com/ Imaging and Manipulation Manufacturer of instruments for electron microscopy. Fries Research & Technology Germany http://www.frt-gmbh.com/home/home.php3?sprache=uk Imaging and Manipulation Develops processes and tools for the production and modification of nanostructures with ion beams. General Nanotechnology Berkeley CA http://www.gennano.com/ Imaging and Manipulation Produces imaging and operating software for AFMs and optical microscopes. Independent research Engineering Group Imaging and Manipulation Scanning probe microscope manufacturer. Infinitesima Bristol, UK Imaging and Manipulation Bio applications Develops systems for improving scanning probe microscope performance in applications of biology and polymer science.

  17. JPK Instruments Berlin, Germany http://www.jpk.com/index2.htm Imaging and Manipulation Bio application Maker of dual function microscopes, designed for use in biological fields. Kelvin Nanotechnology Glasgow, Scotland http://www.elec.gla.ac.uk/knt/ Imaging and Manipulation Bio application Semiconductor fabrication and processing for electronics and biology, including e beam writing and molecular beam epitaxy. Kleindiek Nanotechnik Germany http://www.nanotechnik.com/ Imaging and Manipulation Manufacturer of nanopositioning equipment. K-Tek International Inc. Portland, OR http://www.ktekintl.com/ Imaging and Manipulation Accessories Manufacturer of AFM cantilevers and gratings. Mikromasch http://www.mikromasch.com/ Imaging and Manipulation Accessories Manufacturer of Scanning probe microscope tips, cantilevers and calibrating samples. Minus K Inglewood, CA http://www.minusk.com/ Imaging and Manipulation Manufacture vibration isolation systems for scanning probe microscopes. Molecular Devices & Tools for Nanotechnology Moscow, Russia http://www.ntmdt.ru/ Imaging and Manipulation Produce scanning probe microscopes and related accessories for surface characterization in gas, air and liquid environments. Molecular Imaging Tempe, AZ http://www.molec.com/ Imaging and Manipulation Design and produce scanning tunneling microscopes, AFMs, peripherals and scanning probes. Nanodevices Inc. Santa Barbara, CA http://www.nanodevices.com/ Imaging and Manipulation Accessories Manufactures AFM cantilevers. NanoFab ColumbiaMD http://www.nanofab.com/ Imaging and Manipulation Manufacturer of high voltage focused ion beam devices Nanofactory Instruments Sweden http://www.nanofactory.com/ Imaging and Manipulation Manufacture an instrument that features STM as well as TEM technology for 3-D manipulation of nanoscale objects. Nanofilm Westlake Village, CA http://www.nanofilm.com/ Imaging and Manipulation Manufacture instrument accessories for analysis and microscopy of surfaces. Nanomagnetics Instruments UK http://www.nanomagnetics-inst.com/products.htm Imaging and Manipulation Developing scanning Hall probe microscopes for quantitative and non-invasive imaging of magnetic materials with nanoscale resolution.

  18. Nanomechanics LLC Worcester, MA http://www.nanomechanics.com/ Imaging and Manipulation Accessories Developer of algorithms for the simulation of AFM behavior. Nanometrics worldwide http://www.nanometrics.com/ Imaging and Manipulation Produce equipment for the mapping of thin film properties for applications in semiconductors and flat panel displays. Nanomotion Ltd. Israel http://www.avem.org/MemDirF/Nanomotion.html Imaging and Manipulation Developing nanopositioning systems. Nanonics Imaging Ltd. Israel http://www.nanonics.co.il/ Imaging and Manipulation Commercializing advancements in near field optical microscopy. Nanosensors Switzerland http://www.nanosensors.com/ Imaging and Manipulation Accessories Manufacturer of scanning probe microscope cantilevers and calibration tools. Nanosurf Switzerland http://www.nanosurf.com/ Imaging and Manipulation Developer of scanning probe microscope systems Nanotec Electronics SL Spain http://www.nanotec.es/staff.htm Imaging and Manipulation Manufacturer of scanning probe microscopes Nanotools Germany http://www.nano-tools.com/ Imaging and Manipulation Accessories Manufacturer of silicon AFM tips coated with diamond like amorphous carbon. Nanowave Santa Clara, CA http://www.nanowave.com/ Imaging and Manipulation Produce positioning systems based on scanning probe microscope technology. Neolim Ltd. Imaging and Manipulation Develop nanopositioning equipment Norsam Santa Fe, NM http://www.norsam.com/about.htm Imaging and Manipulation Commercialize sub 20 nm resolution ion beam technology.

  19. Omicron Germany http://www.omicron-instruments.com/ Imaging and Manipulation Manufacturer of scanning tunneling microscopes. Orsay Physics France http://www.orsayphysics.com/ Imaging and Manipulation Producer of focused ion beam columns in partnership with LEO. Pacific Nanotechnology Inc. Santa Clara, CA http://www.pacificnanotech.com/ Imaging and Manipulation High performance inexpensive AFM with intuitive imaging capabilities. Physical Electronics Inc. Germany http://www.phi.com/ Imaging and Manipulation Manufacture a variety of surface science instruments. Piezomax(now nPoint) Madison, WI http://www.piezomax.com/ Imaging and Manipulation Manufacture scanning probe tips and nanopositioning devices. PSIA Korea http://www.psia.co.kr/ Imaging and Manipulation Accessories Manufacture SPMs and cantilevers. Queensgate Imaging and Manipulation Manufacturer of nanopositioning systems. Quesant Instruments Corp. worldwide http://www.quesant.com/ Imaging and Manipulation Manufacturer of scanning probe microscopes. RHK Technology Troy, MI http://www.rhk-tech.com/ Imaging and Manipulation Manufacturer of UHV AFM/STM systems for molecular imaging. Surface Imaging Systems Germany http://www.sis-gmbh.com/ Imaging and Manipulation Manufacturer of scanning probe microscope peripherals. Triple-O Microscopy Germany http://www.triple-o.de/Triple-O.Microscopy.html Imaging and Manipulation Manufacturer of SPM. Visitec Germany http://www.visitec-em.de/ Imaging and Manipulation Very large chamber SEM producer.

  20. WHERE SOME MAY FIND POSSIBILITIES: • SPM manipulation devices for biological applications – 5-6 companies and none of the “incumbents” yet. • BioForce Nanosciences, National Instruments, Kelvin Nanotechnology • Companies with a very specific focus and expertise with customers lined up. • NanoFab in Maryland focusing on high voltage focused ion beam devices. • Pacific Nanotechnologies, Inc. – low priced SPM niche. • Imago Scientific Instruments – 3-D imaging capabilities

  21. EXCITING POSSIBILITIES:

  22. REVISITING THE FRAMEWORK FOR INVESTMENT OPPORTUNITIES: • Source of a Visual Picture for Strategy Purposes: • Found some nanoimprint lithography techniques that may be disruptive. Found a lot of “tool” companies trying to compete against the incumbents with sustaining technologies. • Most technologies are still “top-down” manufacturing processes, that don’t fully take advantage of the opportunities that will some day be enabled at the nanoscale. A bit early for “bottom-up” promises. • Great companies are selling applications (Nanosys, NanoGram Devices) • The excitement for nanotech tools may be leading us to capital market myopia. • Good due diligence is critical as this field has matured quickly. There is significant intellectual property and plenty of companies that are already in business.

  23. CONCLUSION: • The opportunities for specialized firms in nanomanufacturing – what they will need. • The opportunities for a firm such as Harris & Harris Group, Inc. • Strategies and rules are often designed to then be broken or proven incorrect. However, then at least one has been conscious of the process and knows what one is getting into.

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