AmberWave gets credit from GE Technology Finance

SALEM, New Hampshire -- AmberWave Systems Corp., a supplier of strained silicon technology, said Tuesday (July 22, 2003) that GE Technology Finance, a unit of the GE Structured Finance, has recently expanded its existing line of credit to AmberWave.

AmberWave did not quantify the line of credit before or after the recent expansion of that line of credit.

The company did say that the money would be used to support operations as the company commercializes its strained silicon technology. Without knowing the value of the line of credit it is not possible to know how long it will last.

AmberWave recently announced that foundry chipmaker United Microelectronics Corp. had successfully made experimental transistors on a 70-nanometer manufacturing process technology (see June 12 story).

GE Technology Finance, a unit of GE Structured Finance (GESF), provides working capital and capital for equipment for emerging companies.