[news 2011-2012]

CHiL Semiconductor sold to International Rectifier for $75 million

Queen’s spinoff company anticipated global demand for energy-efficient power supplies

For immediate release

March 11, 2011

KINGSTON, ON -- A semiconductor company founded on technology developed at Queen’s University has been sold to International Rectifier Corp. of El Segundo, CA for $75 million in cash.

A world leader in power management technology, International Rectifier says CHiL’s technology will enable it to meet growing demand for energy-efficient power supplies in a broad array of applications.

CHiL Semiconductor Corp. was founded in 2005 to commercialize advanced, energy-saving digital power solutions for the computer and telecom markets. The company’s patented technology was developed under the direction of Dr. Praveen Jain, Canada Research Chair of Power Electronics at Queen’s. It was licensed to CHiL by PARTEQ Innovations, the technology transfer office of Queen's. CHiL has offices in Tewksbury, MA and Taipei, Taiwan.

The company’s devices tightly integrate digital technology, enabling precise monitoring and control of the power management process. Providing unique, intelligent features, CHiL devices yield significant system power efficiency and performance gains, while reducing system design and complexity.

A serial inventor and entrepreneur specializing in power-efficient electronic technologies for a wide range of industrial sectors, Dr. Jain is also the founder of another Queen’s spinoff company,  SPARQ Systems Inc., a leading developer of advanced microinverter products and systems for the  solar photovoltaic market.

“This is a wonderful example of a university-generated innovation making an impact on a global scale,” says John Molloy, President and CEO of PARTEQ. “It also shows how a leading researcher with strong knowledge of industry needs and trends can create discoveries through research that will shape the direction of markets. Now Dr. Jain has done the same with SPARQ’s microinverter technology and we are looking forward to much success with this company as well.”

Ontario Centres of Excellence played a significant role in funding the early development of the technology and later invested both seed and follow-on funding into CHiL.

Contact:

John Molloy

President & CEO

PARTEQ Innovations

P: 613. 533. 2342

E: jmolloy@parteqinnovations.com