Intel Corp. says it is spinning off key assets of a start-up business to form an independent company called SpectraWatt Inc. Intel Capital, Intel's global investment organization, is leading a $50 million investment round, joined by Cogentrix Energy LLC, PCG Clean Energy and Technology Fund, and Solon AG.
SpectraWatt is expected to break ground on its manufacturing and advanced technology development facility in Oregon in the second half of 2008, with its first product shipments expected by mid-2009.
SOURCE: Intel
