Caracal Prepares to Strike

Caracal derives its name from a rare African cat, renowned for its agility and ability to take on predators many times its size, attributes Dr. Olle Kordina knew would be important when he decided to form a company to manufacture silicon carbide.

Although the caracal is a solitary creature, Dr. Kordina knew that an undertaking of such magnitude was best done with the help of a team of people and organizations. He set out to develop a network of strategic partners - organizations committed to Caracal's vision of the revolutionary impact of silicon carbide. This team is a true partnership of both private and public sector organizations working together to create a great company and high paying jobs in Western Pennsylvania.

With the help of its partners, and its co-founder Rajiv Enand, Caracal has made remarkable progress in the short time since its founding. Over $9.5 million has been raised to complete the initial R&D into Caracal's unique growth process, purchase equipment, and construct a state-of-the art silicon carbide manufacturing facility in Ford City . Some of the world's top silicon carbide scientists - from India, Sweden, Russia, and the United States - have joined the Caracal team. And in 2006, the company's first commercial grade silicon carbide wafers will be introduced to the market.

The following organizations have helped to make Caracal "ready to strike":

Partners/Investors

Innovation Works is an organization sponsored by the state of Pennsylvania providing risk capital to help high-potential technology start-up companies develop their products and grow their companies. Innovation Works has made investments in Caracal totaling $780,000 and is providing on-going business assistance to the company.

The Technology Collaborative, formed in December 2004 as the result of a merger between The Pittsburgh Digital Greenhouse and The Robotics Foundry, is an economic development organization focused on growing companies and streamlining efforts to secure a balanced mix of federal, state and local funding to support the growth of Pennsylvania’s world-class technologies. The Greenhouse provided Caracal a $33,000 start-up grant and a $164,000 research grant.

BlueTree Allied Angels is a regional group of accredited investors who invest in regional early-stage companies. BlueTree has been an important participant in each of Caracal’s two investment rounds.

Pittsburgh Gateways Corporation (“Gateways”) is a business accelerator with the mission of generating new business growth. Utilizing a proven process, Gateways partners with leading academic and research institutions to establish and develop Centers of Technology and to effectively connect these institutions and Centers with industry. Gateways assisted in Caracal's company formation and earliest fund raising.

Penn State Electro Optic Center (EOC) was created in 1999 under a cooperative agreement with the Office of Naval Research and is managed by Penn State University. The EOC promotes the development of electro-optic materials, components, and systems needed to advance the state-of-the-art in electro-optic science and technology for our defense forces.

Local, State, and Federal Government

Congressman Murtha with Caracal staff Congressman John Murtha, PA 12th Congressional District has dedicated his life to serving his country both in the military and in the halls of Congress. He had a long and distinguished 37-year career in the U.S. Marine Corps, retiring from the Marine Corps Reserve as a colonel in 1990; and he has been serving the people of the 12th Congressional District since 1974. He has been a strong supporter of Caracal since its inception and was instrumental in getting the earliest funding for the renovation project.

Pennsylvania Governor Ed Rendell presented Caracal with almost $1 million in state funds, including $700,000 in low-interest loans, and $228,000 in grant money for training new employees. The funds are part of Gov. Rendell’s innovative Infrastructure Development Program, which provides grants and low-interest loans up to $1.25 million for public and private infrastructure improvements through the Department of Community and Economic Development, and the Department of Labor and Industry.

Pennsylvania State Senator Don White was elected in 2000 to his first term to represent the 41st Senatorial District which includes all of Indiana County as well as parts of Armstrong, Butler, Clearfield and Westmoreland Counties. Senator White is committed to promoting economic development and job creation and has secured funding for local organizations to market the region as an area for business growth.

The 60th Legislative District has an energetic, new voice in the Pennsylvania House of Representatives: Jeff Pyle. Pyle, born and raised in the district that he now represents, brings leadership and innovation to the Legislature, as well as a solid commitment to speaking out for the hometown values embodied in the citizens of Armstrong and Indiana Counties.

The Armstrong County Board of Commissioners, consisting of Patricia L. Kirkpatrick, Chairman; Richard L. Fink, Vice-Chairman; and James V. Scahill, Secretary, constitute the chief governing body of the county. Administrative powers and duties of County Commissioners encompass registration and elections, assessment of persons and property, human services, veterans' affairs, appointment of county personnel and fiscal management.

The Greater Ford City Community Development Corporation (GFCCDC) creates jobs through development of industrial and other business projects in the greater Ford City area. The GFCCDC received more than $5 million in state and federal grants to renovate the former PPG facility into Heritage and Technology Park where Caracal has established operations.

The US Navy’s Office of Naval Research (ONR) became Caracal’s first client in 2004. Through its Small Business Innovative Research (SBIR) program, the Navy has awarded over $1.3 million of contracts to Caracal for the purpose of advancing silicon carbide manufacturing technology. Should the Navy decide to exercise its options on these contracts, the total contract will grow by an additional $1.6M to a level of $2.9M.

United States Department Of Agriculture, Rural Development , has provided Caracal with government backed loans for equipment and assisted with funding in the redevelopment effort. Committed to the future of rural communities, Rural Development administers rural business, cooperative, housing, utilities and community development programs.

United States Small Business Administration's mission is to
maintain and strengthen the nation's economy by aiding, counseling, assisting and protecting the interests of small businesses and by helping families and businesses recover from national disasters. The SBA has also provided government loans to Caracal.

The University of Pittsburgh's Small Business Development Center (SBDC) develops and strengthens the businesses of Southwestern Pennsylvania by conveying timely knowledge and expertise through professional consulting, education and training programs.

Office of Vocational
Rehabilitation (OVR)

Pennsylvania Department of Labor and Industry, Office of Vocational Rehabilitation (OVR) is a State Agency that provides services to help persons with disabilities prepare for, start, and maintain employment. The OVR presented Caracal with a grant for $100,000 of equipment administered through the Butler County Community Development Corporation.

Web site designed and maintained by: Pauline Connelly, Web Design + e-Marketing, Pittsburgh PA

"It looks like Caracal is prepared to meet the competition with the same agility, energy and cleverness as its namesake."

- Compoundsemi News

Caracal Prepares to Strike

Partners/Investors

Local, State, and Federal Government

Web site designed and maintained by: Pauline Connelly, Web Design + e-Marketing, Pittsburgh PA