Polymatech Electronics Signs MoU With Orbray For Tech Transfer; To Seek Capital Subsidy From Centre
Polymatech Electronics has signed an MoU with Orbray for tech transfer and will seek capital subsidy from the Indian government.
The city-based Polymatech Electronics, manufacturers of opto-semiconductor chips, has signed a memorandum of understanding with the Japanese company Orbray Co., for its vision to become a 'fully-integrated end-to-end semiconductor company.'
Orbray Co., (formerly Adamant Namiki Seimitsu Houseki Kabushiki-gaisha), a 85-year-old precision components manufacturer, would supply Sapphire Ingot growing technologies to Polymatech Electronics as per the MoU, a company statement said on Tuesday.
"This is a considerable investment, and we will apply with the Government of India for capital subsidy under applicable schemes and respective state governments", the company's Managing Director and CEO Eswara Rao Nandam said.
Polymatech Electronics had signed a memorandum of understanding with the Government of Tamil Nadu in May 2020 and produces opto-semiconductor chips at its Oragadam facility near Chennai. It has shipped products worth over $125 million in 2023-24.
On future plans, Nandam said, "We are also in advanced discussions with Silicon Carbide Wafer and Silicon Wafer fabrication machinery suppliers to accelerate our plans to become multi-wafer producers (for the semiconductor industry)."
"As part of Polymatech Electronics' initiative to make high-end semiconductor chips, we will supply these wafers to companies entering the Indian market for packaging and other businesses," he said.
Following the signing of the MoU with Orbray Co., Polymatech Electronics would establish its wafers fabricated ion in its facility and it would be primarily for captive consumption.
Orbray would also provide training to engineers following the agreement between the two entities in Japan.
"This is a historic day for us as we move closer to our company's vision of becoming a fully integrated end-to-end semiconductor company. This MoU will enable us to progress towards converting Ingot into products, thereby entering the next level of our growth story," Nandam added.
