SOURCE: FyreStorm, Inc.

June 06, 2006 09:00 ET

Intel Capital Weighs In With Additional Contribution to FyreStorm, Inc.'s Series C Round

Innovative Power Conversion -- Power Management IC Maker Snares Another Premier Investor as It Preps Product Introductions

SUNNYVALE, CA -- (MARKET WIRE) -- June 6, 2006 -- Intel Capital, the venture capital arm of semiconductor giant Intel, Inc, has joined the roster of premier investors funding FyreStorm, Inc., pitching in with a capital investment as part of FyreStorm's Series C financing announced earlier this year.

FyreStorm is the privately held fabless semiconductor company based in Sunnyvale, CA delivering power conversion and power management solutions. FyreStorm's disruptive, digital predictive technology provides mobile device manufacturers with the solution they need to replace 40-year old reactive analog solutions for power management and address the explosion in power subsystem complexity driven by today's increasingly feature-rich products. FyreStorm's flexible, software-programmable digital design enables smaller, lighter, thinner product designs with enhanced run-time for today's mobile generation.

"We're pleased to be aligned with and have the financial support of Intel Capital, the investment arm of the world leader in silicon innovation," says George N. Alexy, President and CEO of FyreStorm. "We will, with the assistance of our new investors, continue on our path to unleash a new paradigm in ICs for power management."

According to Intel Capital spokesperson Kyle S. Enright, Director of Communications and Cellular Investments, "Intel Capital is investing in innovative companies, technologies and products that will assist manufacturers of portable and handheld products to achieve common goals of smaller size and longer battery run-time and life-time in their end products."

Previous investors in FyreStorm include Worldview Technology Partners, ComVentures, Texas Pacific Group (TPG) Ventures, Telos Venture Partners, Sunrise Capital and Western Technology Investment. FyreStorm intends to use this latest round to expand R & D and support sales and marketing efforts around the globe.

About Intel Capital

Intel Capital, Intel's venture capital organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software and services targeting enterprise, home, mobility, health, consumer Internet and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$4 billion in more than 1,000 companies spanning more than 30 countries. During this time, about 160 portfolio companies have been acquired and another 150 have gone public on exchanges around the world. In 2005, Intel Capital invested about US$265 million in about 140 deals with approximately 60 percent of funds invested outside the United States. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com.

About FyreStorm

FyreStorm, Inc. is a venture-funded fabless semiconductor company located in Sunnyvale, California. Founded in 2002, its mission is to deliver innovative power conversion and power management solutions for high volume battery operated consumer electronics devices such as smart phones, portable media players, hand-held GPS and digital cameras. The company's digitally controlled products provide a number of advantages in end-product designs compared to designs using traditional analog solutions.

The FyreStorm advantage derives from its patented predictive control technology implemented in digital logic rather than classic analog feedback techniques. The programmability of this approach allows the end customer to react to component and feature driven changes in the end system without having to redesign the power conversion and management subsystem. To date, the company has submitted 36 patent applications for its technology, of which eighteen have been issued and an additional seven allowed, with the remainder pending.

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