Applied Ventures, the corporate venturing unit of US-based manufacturing company Applied Materials, has backed Aventa Technologies, a US-based provider of manufacturing equipment for alternative energy markets including high-temperature superconductors.
The terms of the series A round were undisclosed. Aventa said in a September Securities and Exchange Commission filing it had raised $1m.
Christopher Moran, general manager of Applied Ventures, said: “We are excited about Aventa’s progress in developing critical manufacturing technology for this emerging alternative energy sector. HTS technology has tremendous potential, and we are pleased that this investment will be used to make advanced grid solutions more affordable.”