Microlab completes $5.5 million financing to support MEMS switch

June 1, 2001
June 1, 2001--Microlab, a Phoenix-based MEMS (micro-electro-mechanical systems) technology company, is commercializing what the company claims is the first latching MEMS relay/switch.

Microlab, a Phoenix-based MEMS (micro-electro-mechanical systems) technology company, is commercializing what the company claims is the first latching MEMS relay/switch, which employs proprietary technologies to maintain itself in an open or closed state without any power consumption. Microlab's patent-pending technology, called MagLatch, is designed to bring MEMS into the mainstream and to drive next-generation solutions in growing markets, including wireless devices, optical switches, semiconductors, and other applications.

The company has recently completed a $5.5 million round of financing with both financial and strategic investors including EnTrust Capital Frontier Fund LP, Next Stage LLC and a consortium of individual investors, including Henry T. Nicholas III, Ph.D. and Henry Samueli, Ph.D., co-chairs and founders of Broadcom Corporation, Vincent Tese, Chairman of Wireless Cable International and a member of the Board of Directors of Bear Stearns and previously Superintendent of Banks of NY State and Michael Fitzpatrick, former chairman, chief executive officer and president of E-TEK Dynamics.

About Microlab:

Microlab, a provider of microelectromechanical systems (MEMS) -based solutions for microelectronic applications, was founded to commercialize microelectronic technologies through scientific and engineering research, rapid product development and customer-oriented marketing. For more information, visit www.microlab.net.

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