Enschede-based LioniX International, a photonic chip foundry, announced on Thursday that it has secured €1.5M in bridge financing from the East Netherlands Development Agency (Oost NL).
“With Oost NL we will have a strategic partner providing a loan to bring the continuity to the business of LioniX International that it needs, and secure jobs for the region. This enables LioniX International to develop further and exploit its unique technology for new applications in the market, now and in the future,” says the company.
The announcement comes as the Dutch company is on the verge of bankruptcy due to a dispute between its shareholders. However, it is getting help from the interim relief judge.
The judge has ruled that the South Korean majority shareholder Magic Micro must grant an emergency loan of €1.5M from development company Oost NL, reports the FD.
Notably, this does not solve the problems surrounding the Dutch company, because the shares of Magic Micro will be forced soon to sell, adds the report.
A creditor of the Koreans has seized the shares, and in early August the judge will determine under which conditions the shares will change owners.
LioniX International: Providing customised microsystem solutions
LioniX International specialises in designing and producing customised microsystem solutions for OEMs and system integrators.
The Dutch company provides customised solutions for OEMs and system integrators, from design to fully assembled modules, by vertical integration and in scalable production volumes.
The company’s core technology is integrated photonics with the proprietary TriPleX platform.
The company provides custom solutions, product development services, and production for a range of industries, including healthcare, aerospace, defence, and telecommunications.
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