【World Express】Tohoku Technology Ventures (TTV) Invests in Start-Up Company FOX Co., Ltd. to Promote Mass Production Research and Development of Gallium Oxide Power Semiconductors

Gallium Oxide (β-Ga₂O₃) crystal sample

      Tohoku Technology Ventures (TTV), along with Macnica and Iwatani Industries, has invested in a Tohoku University-incubated startup, FOX Corporation, which is developing the next generation of power semiconductors.

      Tohoku Technology Ventures, together with investors such as Macnica and Iwatani Industries, jointly participated in the third-party private placement of FOX Corporation (hereinafter referred to as FOX), a startup incubated by Tohoku University, with a total financing amount of 270 million yen. Through the funding, FOX plans to focus on developing low-cost mass-production technologies for Gallium Oxide (β-Ga₂O₃) wafers for next-generation semiconductor materials, and developing low-energy, high-performance power devices, with the goal of contributing to a decarbonized society.

FOX Promotes the Development of Mass Production of Gallium Oxide (β-Ga₂O₃) Power Semiconductors

      In the process of achieving Carbon Neutrality and digitization goals, the energy-saving effects (Green by Digital) of digitalization and curbing the growing energy consumption of infrastructure (Green of Digital) are particularly important. Especially in terms of improving power consumption, new power semiconductor technologies have received a lot of attention, and Gallium Oxide (β-Ga₂O₃) as a power semiconductor material is considered to be a very promising solution. As a wide band gap semiconductor, Gallium Oxide is regarded as a key material for the next generation of energy-saving power devices due to its excellent performance and ability to achieve efficient power conversion.

      By promoting the application and popularization of a new generation of power semiconductor technology, FOX aims to fundamentally solve the limitations of traditional Silicon (Si) power semiconductors in power loss. The goal of its environmentally friendly power semiconductor business is to support the goal of Carbon Neutrality by 2050 through energy efficient technologies, in particular to promote sustainable technological innovation in the power sector.

      Currently, the global market for power semiconductors is about 3 trillion yen and is expected to expand to 8 trillion yen by 2035.

Excerpt from METI's Green Growth Strategy related to Carbon Neutrality by 2050

      FOX is a designated company under the STS phase [Seed-Stage Technology-Based Startups (Phase One)] of the "Deep Technology Start-up Support Program" provided by NEDO, and will receive up to 3 billion yen in research grants through the PCA phase [Product Commercialization Alliance (Phase Two)] and the DMP phase (Demonstration Mass for production).

■ Commentary by Kiichi Ogura, CEO of Tohoku Technology Ventures

      FOX is a start-up enterprise that is the result of Tohoku University's long-term research in semiconductors and materials. At present, with the goal of achieving social change, the university has sprung up a number of large-scale incubation projects in deep technology fields. TTV will continue to find ways to solve global problems such as environmental change, unearth these promising and impactful intellectual property rights that have just emerged from the laboratory and support their application in society.

      The development of new materials for power semiconductors is a key factor in achieving Carbon Neutrality and is also one of the cornerstone material technologies for Japanese semiconductor technology, and it is expected that FOX will become a driving force for the Japanese power semiconductor industry in the future development.

TTV Supports Program

      TTV is a technology-led venture capital firm created by members from National University Research Institutes in Japan.

      In recent years, with the government's strong push to promote entrepreneurial innovation, more and more venture capitalists have emerged, and investments in areas such as deep technology, green transformation and social responsibility have accelerated. While there is no shortage of finance or management expert venture capital firms that focus on business accompanying, technology-oriented ventures like TTV, which go directly into university laboratories to identify and nurture early-stage projects with potential for social change, are still rare in Japan.

      With a vision to promote social progress and achieve sustainable development, TTV brings together team members with extensive experience in the fields of scientific and technological research, consulting, fund management and government affairs. By working closely with technology experts and industry consultants in various fields, TTV focuses on investing in projects with innovative technologies, unique business models and significant social impact, with the aim of developing the next generation of leaders to build a sustainable future.

      TTV is committed to supporting researchers and universities who are constantly striving for social development and innovation, and driving them to greater success and give back to society through business support.