New Origin foundry seeks additional €40M investment

Twente-based silicon nitride foundry New Origin needs more starting capital than previously thought. The required investment has risen from 60 million to 100 million euros because of the need to increase production capacity and procure more advanced manufacturing equipment than initially deemed appropriate. Without these amendments, the foundry wouldn’t be profitable enough in the run-up to full-scale production, CEO Twan Korthorst told newspaper Tubantia (link in Dutch). Korthorst is already talking to potential investors, who are all Dutch due to restrictions on foreign investments in high-tech companies.