Solar wafer slurry recycler SiC Processing grabs €53 million funding

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SiC Processing AG, a specialist in the recycling and supply of solar
wafer slurries, has completed a new round of funding lead by zouk
ventures to the tune of €53 million. The deal is being touted as one of
the largest Cleantech growth deals in Europe in 2007.

Dr. Alois Flatz, Partner at zouk ventures, said, “We have been
following SiC Processing for some time and have been impressed by their
unique technology, focused delivery model and strong customer base. The
Company fits well into our Cleantech investment approach, which is
focused on proven technology companies with strong growth rates in
large underlying markets. This is an impressive company and we look
forward to working closely with the team.”

Other investors
included Merrill Lynch Corporate Principal Investments (CPI) Group, CC
Private Equity Partners (CCP), Masdar Clean Tech Fund, and Foursome
Investments together with existing investors and the Heckmann family,
founders of the company.

A year ago, SiC Processing cancelled
its plans for an IPO, citing poor capital market conditions and said it
would attempt an IPO at a later but not determined date.

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