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Rmw investor overview for gsr ventures august 12 2013 (2)

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  • 1. 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
  • 2. 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
  • 3. 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,
  • 4. www.redmicrowire.com Dominant Technology Although other technologies exist, wire bonding is projected to retain market dominance = ~75%-80%
  • 5. 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)
  • 6. 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
  • 7. 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
  • 8. 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)
  • 9. www.redmicrowire.com RMW Worldwide Haifa, Israel Hsin-Chu, Taiwan Sales Refurb - Storage R&D Dresden, Germany Osan, Korea Singapore San Jose, CA Dallas, TX Tokyo, Japan
  • 10. 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
  • 11. 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.
  • 12. 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
  • 13. 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
  • 14. 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
  • 15. 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 16
  • 16. 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
  • 17. 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 18
  • 18. 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) 19
  • 19. 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
  • 20. 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
  • 21. 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
  • 22. 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
  • 23. www.redmicrowire.com The LED Market
  • 24. 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
  • 25. www.redmicrowire.com General Lightening
  • 26. www.redmicrowire.com New Market: LED Source: Yole Development
  • 27. 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
  • 28. www.redmicrowire.com Thank you.