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Rmw investor overview for gsr ventures august 12 2013 (2)
1.
2. www.redmicrowire.com
Topics
RED Micro Wire
Intro
Market Potential
Global Reach:
The company
Ownership structure
Management
The Product:
Technological innovation
Product placement
Achievements to date
Market Strategy
Product Roadmap
RMW vs. the Competition
Go to Market Plan
Investment & Collaboration
3. www.redmicrowire.com
RED Micro Wire at a glance
What is RED Micro Wire (RMW)?
RED Micro Wire is a technology start-up, works in collaboration with a
technology partner (WMT). RMW developed a new technic to produce A VERY
cost effective micro bonding wire with the highest quality for the Semiconductor,
LED, Other industries.
RMW Product
Unique composite bonding wire with a fine glass coating and a soft Copper/Silver
core.
Why RED Micro Wire
The RMW innovation solution solves problems that have challenged the
semiconductor industry for decades, fulfilling the demand for a high reliability –
low cost solution and enabling further industry innovations
4. www.redmicrowire.com
Bonding Wire
What is bonding wire?
Micro Wire bonding involves welding thin wire to a pad on a bare semiconductor
die-chip and the other end of the wire to a conductive pad on a
substrate/package, to be placed on a PCB providing electrical connection
between the silicon chip and the external leads of the semiconductor device
Wire bonding market is $5B, mostly made either
of Gold (Au), or Copper (Cu) Silver (Ag) starting now
Cu & Ag are becoming most common in the market,
6. www.redmicrowire.com
Creating Better Wires
RED Micro Wire breakthrough technology
enables the semiconductor industry to create
high efficiency chips, at lower cost
How?
Unique micro bonding wire, produced in an
innovative method that enables:
high scalability
high reliability
improved usability
at lowest cost
(~30% lower)
7. www.redmicrowire.com
Production of Bonding Wires
Traditional Drawing Technology
RMW innovative Casting Technology
Traditional production of micro bonding
wires is by drawing
RMW produces wire by casting copper/silver
into glass sleeve/capillary
RMW 1st product is being proved to replace
the very expensive gold bonding wire
Deliver Ag (Silver) & Cu (Copper) wire
8. www.redmicrowire.com
Packaging material is ~$22B in 2012
TAM bonding wire is ~ $5B in 2012 (stays stable on wards)
– 22.4 million KM market consumption in 2014 (HERAEUS MATERIALS TECHNOLOGY March 2013)
Major Market players - Nippon Steel/Tanaka /Heraeus/ MKE
PdCu is expected to be 40% in 2015
Ag is expected to be 10% in 2015 (HERAEUS MATERIALS TECHNOLOGY March 2013)
Bonding Wire Market
Source: SEMI Materials Market Data Subscription August 2012
9. www.redmicrowire.com
Company
RMW is a subsidiary of RED Equipment a leading
turnkey solution provider of secondary
semiconductor manufacturing equipment
Privately held start-up, established 2011
Employees 15 (45 employees the whole group)
Singapore HQ, Israel R&D
Global presence – established sales network
IP – unique wire composition & wire manufacturing
technology machine
Status – Completed feasibility, planning to ship
samples by beginning of 2013 to 1st tier selected
customers (OEMs, IDMs & Foundry)
11. www.redmicrowire.com
Structure
Technology partner WMT
Provides machinery services, processes, IP
RED Micro Wire has licensed the technology exclusively
for the semiconductor & LED market from WMT
While building our own IP & application
Red Equipment PTE Ltd
Privately held Company
Red Micro Wire (RMW)
65% owned by Red Equipment
35% Owned by WMT
Wire Machine Technologies (WMT)
35% owned by Red Equipment
65% owned by WMT
12. www.redmicrowire.com
Experienced Management Team
Shimon Dahan , CEO - Over 25 years semiconductor executive experience
including Senior VP of Worldwide Operations at TowerJazz Semiconductor.
Experienced in leading start-ups to real world success
Loo Eng Yoong, VP Finance - Over a decade of accounting experience
Danny Hacohen, VP Business Development & Marketing - Over 25 years in hi-
tech, specializing in semiconductors, holding senior positions in business and
operations management of several technology companies.
Dominik Stephan, Director, Application & Product Marketing - Wire bonding
expert, developed several successful bonding wire products and published
numerous technical papers in local and overseas conferences and journals.
13. www.redmicrowire.com
RMW: The Wire of the Future
The reliability of
gold wire.
The cost of
copper wire.
RMW produces high quality micro bonding wire with a
soft metal core and an insulating glass coating
RMW wire property uniqueness enables copper wire to become a feasible
solution to replace Gold wire for customers that could not previously use cu
wire
14. www.redmicrowire.com
Challenges in Cu Wire Use
Cost
– Ever increasing Au Price
drives towards Copper wire
Inherent issues with bare
copper
– Corrosion
– Hardness
Physical limitation of
traditional wire making
– Scalability
?
bare
Cu
Reliability vs. Cost
High Cost Low Cost
LowReliabilityHighReliability
Au
CuPd
Ag
15. www.redmicrowire.com
The RMW Solution
Cost
– Ever increasing Au Price drives
towards Copper & Silver wire
– Highly cost effective
manufacturing process
Inherent issues with bare
copper
– Corrosion
– Hardness
– Insulation provides protection +
wire crossing
– Very soft wire
Physical limitation of
traditional wire making
– Scalability
– Reduced wire diameter up to
4um
bare
Cu
Reliability vs. Cost
High Cost Low Cost
LowReliabilityHighReliability
Au
CuPd
Ag
16. www.redmicrowire.com
Wire to wire shorting
Potential - Assembly Defects
Wire crossing can pass
open/short at electrical test
and be accepted at optical
inspection at wire bond stage
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17. www.redmicrowire.com
Technological Innovation
Composite wire
Innovative control over core and coating enables unmatched synergetic
efficiency
Soft metal core with a high strength, ultra fine glass coating
Ultimate in geometrical accuracy
RED Micro Wires are Better Than Gold
glass coating
metallic core
The RMW innovation: casting instead of drawing
18. www.redmicrowire.com
Wire Cross Section
Cross section of wire clearly shows core (bright) and glass coating (dark)
Core shows good roundness
Glass layer is non concentric and shows variation in thickness
Glass-core interface is very smooth, no sign of interfacial layer or degradation
Glass coating shows no voiding or cracking
4N Core
Glass
layer
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19. www.redmicrowire.com
Product Placement
Item Au Cu CuPd RMW Ag Reason RMW Cu Reason
1st Bond Very
Good
Challenging Worse than
Copper
Comparable
to Au
Very soft FAB,
little work
hardening
Similar or
better than Cu
- No Alloy formation
- glass protection
2nd Bond Very
Good
Challenging Better than Cu Comparable
to Au
Very soft wire Similar or
better than Cu
Glass breaks free during
bond. Copper core is
softer than usual copper
Looping fair fair fair Better Glass acts as a
structural member
to stiffen the loop
Better Glass acts as a structural
member to stiffen the
loop
FAB Very
good
hard Harder than Cu
and
inconsistent
Comparable
to Au
Similar hardness Better than
Cu
Glass protection , yet
interface clean to bond
Handling Very
easy
Very
difficult
Better than Cu Comparable
to Au
Glass protection is
complete protection
Comparable
to Au
Glass protection is
complete protection
Reliability Very
Good
Challenging Slightly better
than Cu
To be proven No data available
yet
Similar to
copper
Mainly depending on Cu
core, which is 4N
Min Wire
Diameter*
0.6mil 0.6mil 0.6mil 0.15mil Glass pulling
method enables
much lower
diameter
0.15mil Glass pulling method
enables much lower
diameter
Cost 7 x CuPd 0.5 x CuPd 1x CuPd TBD Highly efficient
manufacturing
technology
0.7 x CuPd Highly efficient
manufacturing
technology
*(by usual technology)
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20. www.redmicrowire.com
Achievements Since Inception
Built team of experts and supporting labs in 2 centers – Israel &
Singapore
Design & manufacturing of first 2 production tools
Technology launch and developed significant interest with
customers and industry experts – introducing unique properties
to the industry
R&D proved wire is bondable & suitable for wire bonding
industry
Rev 3.1 Cu, usage process for standard Cu wire bonder available
Collaboration with tier 1 partners: tool manufacturers, IDM’s,
foundries and more
Our Rev 3.0 Ag in evaluation & discussion with tier one wire
supplier and potential customer for possible collaboration
21. www.redmicrowire.com
RMW Product Roadmap
Q4-12 Q2-13 Q4-13
“BW” 50µm 18µm
“BW” 17µm 4µm
“BW” 50µm 18µm
“BW” 50µm 18µm
“BW” 50µm 18µm
“BW” 17µm 4µm
“BW” 17µm 4µm
“BW” 17µm 4µm
Au
Cu
Ag
Pt
RMW will lead wire diameter scale down to drive scalability
RMW will introduce additional core materials to offer further alternatives
Q3-12 Q1-13 Q3-13 Q2-14Q1-14
22. www.redmicrowire.com
Competition & Market
Current major players & market share
$5B Market
MKE
Tanaka
Heraeus
SMM – phased out of the semi this year
Nippon
Our goal to take 5% of the market by 2015
with exponential growth over the next years
23. www.redmicrowire.com
Our Partners:
1st tier equipment manufacturers, foundries & IDMs
2nd tier many other assembly houses, LED manufacturers
3rd tier Labs, Research institutes & Centers, Universities,
Space & Aviation
RMW Go To Market Plan
Feasibility completion – May/2012
- 1st machine in samples production
Rev 3.0 Ag samples (qual) – March/2013
Wire technical acceptance – June/2013
25. www.redmicrowire.com
Top 10 LED supplier of 2011
Table. Top 10 LED suppliers for 2011, by
revenue of packaged LED components.*
1 Nichia
2 Samsung LED
3 Osram Opto Semiconductors
4 LG Innotek
5 Seoul Semiconductor
6** Cree
6** Philips Lumileds
7 Sharp
8 TG
9 Everlight
28. www.redmicrowire.com
Investment & collaboration
Current status:
~$5m invested to date by RED Equipment
Funding needed: $10m (per milestones)
Accelerate the development process to go to market with
the right product
Investor profile:
Strategic partner, active in one or more of the following:
1. Financial Investment
2. Marketing & Business Development
3. Technology and Engineering Resources