This Cambridge tech just got $32M – could it be the key to the clean energy revolution? 

Cambridge GaN Devices (CGD) has raised an impressive $32 million in a Series C funding round. The company, a spin-out from Cambridge University, is spearheading advancements in gallium nitride (GaN) semiconductor technology, an innovation poised to revolutionize how we consume and conserve energy.

“This funding round marks a pivotal moment for CGD,” said Dr. Giorgia Longobardi, CEO and Founder of CGD. Her enthusiasm is understandable. With a vision to “revolutionize the power electronics industry,” CGD’s mission is more than just innovation; it’s about creating technology that makes a measurable difference in everyday energy consumption.

So, what’s the big deal with GaN?

To put it simply: efficiency. Traditional power electronics rely on silicon, which has long been the industry standard. But GaN changes the game.

These semiconductors offer faster switching speeds, greater energy efficiency, and more compact designs.

Imagine charging your electric car or smartphone in half the time or data centers consuming significantly less electricity, that’s the potential GaN holds.

CGD’s proprietary ICeGaN® technology is at the heart of this revolution. Unlike conventional solutions, ICeGaN® delivers efficiency levels above 99%.

This might sound like a small percentage difference, but in industries like electric vehicles (EVs) and data centers, even a 1% improvement translates to massive energy savings and millions of tons of CO2 emissions avoided each year.

“We’re making sustainable power electronics possible,” Longobardi explained. “That’s not just a win for businesses; it’s a win for the planet.”

Numbers tell a compelling story. According to Yole Intelligence’s 2024 Power SiC and GaN Compound Semiconductor Market Monitor, the global GaN power device market is projected to grow at a staggering 41% compound annual growth rate (CAGR), hitting $2 billion by 2029. But that’s just scratching the surface. With applications spanning from automotive to renewable energy, the high-power electronics market could surpass $10 billion within the same timeframe.

Henryk Dabrowski, CGD’s Senior Vice President of Sales, is bullish about the company’s growth trajectory. “We’ve already secured deals with industry-leading customers,” he noted. “This investment allows us to deliver on those commitments and meet the surging demand for our latest-generation P2 products.”

Dabrowski’s excitement is palpable. “We’re not just selling components; we’re enabling innovation. Our GaN solutions are easy to implement and highly reliable, which is exactly what our customers need.”

The funds will help scale operations in Cambridge, North America, Taiwan, and Europe. This international footprint is crucial as the company seeks to penetrate the automotive market, a sector where efficient power electronics are in high demand.

“CGD’s technology addresses the escalating energy needs of emerging sectors like AI and electric mobility,” said John Pearson, Chief Investment Officer at Parkwalk Advisors, one of CGD’s long-term backers. “We’ve been with them since 2019, and what’s impressed us most is their ability to turn cutting-edge research into practical, real-world solutions.”

George Mills, Director at British Patient Capital, echoed that sentiment: “Their GaN devices don’t just consume less energy; they offer tangible cost savings. That’s a powerful value proposition for industries grappling with both economic pressures and sustainability goals.”

Why should the average person care about semiconductor technology? The answer lies in its impact. Data centers currently consume about 1% of global electricity, a figure expected to rise with the growth of AI and cloud computing. Electric vehicles, too, are becoming the norm rather than the exception. CGD’s technology plays a crucial role in making these advancements more sustainable.

Dr. Longobardi summed it up perfectly: “Every watt of energy saved matters. By making power conversion more efficient, we’re not just helping companies save on their electricity bills, we’re contributing to a global effort to combat climate change.”

With this latest funding round, CGD is set to scale its production, expand its global reach, and accelerate the adoption of GaN technology across multiple industries. As CGD gears up for its next chapter, one thing is clear: in the race toward sustainability and technological advancement, this Cambridge-based company is leading the pack.