Asia PR News

CORK, Ireland, April 28 /PRNewswire-AsiaNet/ –

Firecomms Ltd., a leading compound semiconductor company that develops
high-speed light sources in visible range wavelengths, today announced that it
has closed a euro 9.6 million investment deal with new and existing
shareholders.

Firecomms’ unique technology provides its key customers with a major
competitive advantage in high-volume consumer electronics, including handheld
devices, cell phones, personal computers and laptops. This same technology
also is the foundation for critical solutions in the home networking and
automotive markets.

The company’s world-class photonics communications products are
revolutionizing the consumer electronics market by using visible light to
enable high-speed optical data transmission and capture. With a market
presence in Europe, Japan and the U.S., Firecomms leads the development of
devices to drive Plastic Optical Fiber, a low-cost optical alternative to
copper cabling in a wide range of applications.

Two new investors have joined the company: ACT Venture Capital of Dublin,
and Alps Electric North America, an important strategic investor and key
customer for Firecomms. Atlantic Bridge Ventures, the company’s anchor
investor since its foundation, also invested in this round and remains fully
committed to Firecomms.

This investment will enable Firecomms to increase production of its
proprietary semiconductor VCSEL devices, and of the company’s newly released
fiber optic devices, which include high-speed fiber optic transceivers used in
consumer devices and networks, and an automotive-grade fiber optic transceiver
for in-car infotainment systems. This funding also will support the expansion
of Firecomms’ product line, sales and marketing fulfillment, and support
activities throughout its markets.

"Firecomms’ revolutionary semiconductor light sources open a wide spectrum
of applications in which Alps has significant interest," says Steve Runnion,
CEO of Alps Electric North America.

Says John O’Sullivan, partner at ACT Venture Capital, "We are excited to
be involved with Firecomms at this time as the company builds on its
technology lead with major customers in networking and sensing applications."

Brian Long, CEO of Atlantic Bridge Ventures, adds, "We are delighted with
the progress Firecomms continues to make with strategic customers particularly
in high-volume consumer and automotive markets. We believe the company’s
unique optical technology combined with its experienced management team
positions it for very significant growth in the next few years."

"We’re delighted to have such solid resources behind the company," states
Firecomms CEO Declan O’Mahoney. "This additional funding and new investors
will enable us to take advantage of many high revenue opportunities in the
giant consumer electronics and automotive markets."

About Firecomms Ltd.
Firecomms, a compound semiconductor company based in Ireland, develops
visible light sources and sensors that light the way for next-generation
consumer devices, automotive and home networks, and medical equipment. These
devices provide the groundwork that will revolutionize optical data
communications for small area networks, such as in-car networks and home
networks.

Additional information about Firecomms is available at www.firecomms.com.

About ACT Venture Capital
ACT Venture Capital is Ireland’s leading venture capital firm. Founded as
an independent operation in 1994, ACT has completed over 70 investments,
principally in technology-based companies serving global markets.

ACT takes a stage diversified approach to investing in exceptional
companies operating in Information & Communications Technology, Internet &
Media, Life Sciences and the Development Capital sector.

ACT has over euro 350 million under management sourced from leading
American, European, Irish, and UK institutions. The company provides capital
to high potential companies located within Ireland, the UK and Europe in the
range of euro 1 million to euro 15 million.

Further information about ACT Venture Capital is available at
www.actventure.com.

About Alps Electric Co. Ltd.
Alps Electric Co. Ltd. is a Japanese corporation that has manufactured
various electronic components since its foundation in 1948. Based on
innovative proprietary technology and market outlook, the company provides
cutting-edge electronic components that contribute to the advancement of a
multimedia society in five key areas; namely, Magnetic Devices, Communication
Devices, Peripheral Products, Mechatronic Devices, and Automotive Electronics.
Alps’ global activities strive to create partnerships with customers,
countries and regions throughout the world. The Alps group includes mobile
electronics manufacturer Alpine Electronics and Alps Logistics, a specialized
electronic component distribution company.

More information about Alps Electric is available at www.alps.com.

About Atlantic Bridge Ventures
Atlantic Bridge Ventures is a new pan-European fund with offices in Dublin
and London focused on making early- and mid-stage technology investments in
semiconductors and software across Europe with a strong focus on a US exit
model. Atlantic Bridge is comprised of a cohesive, dedicated team of
experienced professionals who are committed to the success of the investee
companies. The company’s team members come from an industry background and
have first-hand experience of the challenges involved in growing technology
companies from the start-up stage into profitable businesses. Many of these
companies had successful exits either on the public markets or through trade
sale.

Additional information about Atlantic Bridge, which is regulated by the
FSA, is available at www.abven.com.

SOURCE: Firecomms Ltd.

CONTACT: Rene’ Williams of Firecomms Ltd.,
+1-949-360-7770,
rene@firecomms.com

Web site: http://www.actventure.com
Web site: http://www.alps.com
Web site: http://www.abven.com
Web site: http://www.firecomms.com