Date: 21/11/2009

National Micro. Institute names Powervation as best semiconductor startup up of the year

Powervation was named "start-up of the year" for 2009 by the National Microelectronics Institute (NMI), the premier trade association representing the semiconductor industry in the UK and Ireland.

Since 7 years NMI is awarding best companies and individuals in UK and Ireland by recognizing their achievements and contribution to the advancement of the semiconductor industry. 2009 award recipients were honored at the NMI Annual Awards Dinner held earlier this month in London.

Powervation was acknowledged for drawing financing from a syndicate of global tier-one venture firms in a tight capital market, along with the company's proven ability to scale globally, as evidenced by the accelerated market traction of its first digital power-conversion IC-the PV3002.

Powervation's chief executive officer, Antoin Russell, said, "The NMI annual event is a celebration of European technology and business development. We congratulate our fellow finalists and feel honored to have our company recognized in this way by the most prominent technology industry association in Europe."

Derek Boyd, chief executive officer of NMI, commented, "In such a tough year for start-ups, NMI was delighted by the quality of applications for this award. Although it was a close-run competition, Powervation emerged as a clear winner. Powervation was selected because its market focus and business model seem to be exactly right. Environmental stewardship and carbon reduction is a very hot area and the company has tremendous market potential with excellent revenue prospects. Congratulations go to Powervation, and NMI will, of course, continue to cheer and champion all the great start-ups in the UK and Ireland."

Powervation said its differentiating technology includes a unique algorithm that monitors output voltage on a cycle-by-cycle basis and automatically compensates for variations in line, load, capacitance and inductance. For designers of complex electronic systems used in Computing, Networking and Storage applications, this innovation, in addition to other proprietary methods, delivers better system efficiency, performance and reliability, along with energy savings of up to 30 percent. It also reduces design time from weeks to days and cuts total system cost of ownership by more than 30 percent.

For more details visit www.powervation.com