Jarvis Secures Funding to Meet Battery and Semiconductor Inspection Equipment Demand: "Issuing 6 Billion KRW BW"

[Asia Economy Reporter Hyunseok Yoo] Jarvis announced on the 25th that it has decided to issue convertible bonds with warrants (BW) worth 6 billion KRW.

This BW was issued under excellent conditions, including a zero interest rate, recognizing Jarvis's growth potential. The raised funds will be used as operating capital to respond to the demand for battery and semiconductor inspection equipment.

Jarvis explained that as demand for batteries and semiconductors has surged recently, discussions for orders of X-ray inspection equipment have also increased. Jarvis has already secured references from leading domestic semiconductor and battery companies and continues to communicate with various other companies.

Since May, Jarvis's Dongtan manufacturing center, equipped with a 200 billion KRW production capacity (CAPA), has been fully operational, and the company has established a battery business division to actively respond to related demand. Globally, while the electric vehicle market is rapidly increasing battery demand, supply has not kept pace in some cases. Jarvis plans to proceed with orders from major global battery companies centered on its battery business division and Dongtan manufacturing center.

The technology independently developed by Jarvis is already rapidly gaining recognition in the market. Jarvis's semiconductor and battery inspection equipment, 'XSCAN,' is a non-destructive testing (NDT) device that does not cause damage or harm to the inspected objects and can detect product defects, conditions, and internal structures. Jarvis currently possesses both 250nm-class high-resolution semiconductor inspection equipment and pre- and post-packaging inspection equipment for batteries.

Research and development of next-generation inspection equipment is also underway. Jarvis has been selected as an 'Excellent Enterprise Research Institute Development (ATC+) project participant' supported by the Ministry of Trade, Industry and Energy and is developing non-destructive semiconductor post-process inspection equipment using AI-based 3D X-rays with a resolution below 25nm. Upon completion, this will be the first case in Korea and is expected to further solidify its position in the related market.

A Jarvis representative stated, "As industries requiring X-ray inspection equipment such as batteries and semiconductors are expected to grow, the related global market size is projected to reach 1.2 trillion KRW by 2026. Since discussions with various companies are already underway, we decided to raise funds for a swift response, and the issuance of BW under excellent conditions was decided as the investors recognized both the company's growth potential and technological capabilities."