Tuesday, August 23, 2011

SIU Carbondale spin-out company receives $4.6 million venture capital investment

CONTACT: Jeff Myers, jmyers@siu.edu, (618) 453-4511

Carbondale, Illinois, August 23, 2011 – Enki Technology, Inc., a Southern Illinois University Carbondale (SIUC)-based start-up company developing advanced materials to substantially improve the light absorption capabilities and performance of solar panels, recently announced the closing of a substantial round of venture capital funding totaling $4.6 million.

This round of financing includes investors Applied Ventures, LLC, the venture capital arm of Applied Materials, Inc., and Rockport Capital Partners. Applied Materials is based in Silicon Valley, CA, and is the leading manufacturer of equipment for the semiconductor, solar and display industries worldwide. RockPort Capital Partners is a leading cleantech investor with offices in Boston and Silicon Valley.

Enki Technology was incorporated in March 2009 and houses its research and development operations at the Dunn-Richmond Business Development Center in Carbondale, Illinois. Dr. Bakul Dave, professor in SIUC's Department of Chemistry and Biochemistry, is a co-founder and Enki's Chief Technology Officer. Enki Technology's business will expand on inventions that Dr. Dave developed and patented at SIUC.

Brenor Brophy, Enki co-founder and CEO, said, "We're grateful for the support of the university and our investors and look forward to bringing this great technology to market." Enki is active in its commercialization efforts, working closely with industry partners and customers to fine tune its products.

Southern Illinois University Carbondale fosters technology-based innovation and business development through the efforts of the Technology Transfer Program and the Southern Illinois Research Park. In the past year alone, this partnership assisted in the creation of three new SIU research-based businesses securing several million dollars in funding.