Champ Great International Corporation, the family fund of Michael Chiang (chairman of TPK), announced that it has formed a new company, Cambrios Advanced Materials, to continue the research, development, and sales of silver nanowire inks for transparent conductive films, based on the assets of the former Cambrios Technologies. Lux Research recently talked to John LeMoncheck, the CEO of both the new and the former Cambrios, about the restart of the company.
John said the former Cambrios was closing a $20 million investment round to pay off a debt due in 2016, but one investor backed out. This was due to an undisclosed customer of both the investor and Cambrios, deciding to delay the use of silver nanowires by one year. This led to the collapse of the fund raising, resulting in Cambrios’ financial stress and going through an assignment for the benefit of creditors (ABC) process.
Four companies participated in the auction of Cambrios, and Champ Great, the primary debt holder, purchased the assets for an undisclosed amount. Then, Champ Great restarted Cambrios, based in the same facility as well as with the same manag
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