Tucson’s Tempronics raises $2.7M in financing

Tempronics Inc., a Tucson-based company developing new solid-state electronics technologies for heating, cooling and power generation, has raised $2.7 million in venture-capital financing in a deal led by the San Francisco-based venture firm Nth Power.

Tempronics is led by CEO Tarek Makansi, an electrical engineer who spent 21 years with IBM Corp. Matt Jones and Brian Walsh from Nth Power will join the Tempronics board of directors.

Investors from Tucson’s Desert Angels also participated in the financing round.

Tempronics said its nanotechnology improves energy conversion in solid-state electronics and could help boost the development of solid-state replacements for current rotary devices like compressors, gas turbines, steam turbines and electrical generators.

Tempronics contracted services from the University of Arizona Micro/Nano Fabrication Center for its early prototypes.

Reported in Arizona Daily Star, Saturday, Feb 27, 2010