The Gipuzkoan company SEMI ZABALA, S.L., specialised in the development of gallium nitride (GaN) HEMT transistors, has launched an ambitious industrial project under the name ‘Beyond The Power’, with the aim of creating a reference plant for the manufacture and testing of advanced power semiconductors in the aerospace sector. Located in the Eskuzaintzeta industrial estate in Zubieta, the initiative envisages the implementation of a complete line of back-end processes, covering from the receipt of the wafer to the final encapsulation of the device.
To this end, it has raised a financing round of 8.51 million euros, which will help the company to grow and continue developing power semiconductors.
This financing is divided into three parts: equity, convertible note and bank debt. Firstly, the capital increase round amounted to 4.81 million euros and was formalised by the following companies: Ap Tech Ventures, S.L.U. (2.2 million euros), Seed Gipuzkoa (1 million), Ap Tech Ventures 2, S.L.U. (0.91 million), Clave Mayor (a Mondragón group fund) (0.5 million), and Elkargi (0.2 million euros). After the round, all these companies are now shareholders of Semi Zabala.
Secondly, the convertible note, worth 0.5 million euros, was signed by Littelfuse, a NASDAQ-listed company with headquarters in the USA and which, for the time being, is not a shareholder of Semi Zabala.
Thirdly and lastly, the company has closed a bank debt of 3.2 million euros. This operation has been signed with the following banks: Luzaro (1.2 million euros), Elkargi (0.75 million), Caixabank (0.75 million), Caja Rural de Navarra (0.25 million), and Instituto Vasco de Finanzas (0.25 million euros).
The financial operation began in December 2023 and was completed in April 2025, led by the company's CFO, Julen Peral. Simon Wainwright, CEO of Semi Zabala, highlighted that ‘this financing round is a key milestone for our company. It allows us to accelerate the industrialisation of our GaN devices and to take a firm step forward in the consolidation of a reference plant in Europe for power semiconductors for the space sector. We are very grateful for the trust placed in us by our investors and financial partners, and we are fully committed to developing technological solutions that meet the challenges of the future.
On the other hand, Simon Wainwright explained that ‘this capital injection not only strengthens our production capacity, but also our innovative vocation and our commitment to local talent’. ‘In a global context where technological sovereignty is strategic, initiatives such as ‘Beyond The Power’ position the Basque Country and Europe at the forefront of the design and manufacture of critical components for the new era of space and power electronics’, he concluded.
More information:
Semi Zabala, based in San Sebastian, is dedicated to the design, manufacture, qualification and commercialisation of semiconductor devices and circuits for power electronics, with the aim of offering high reliability and high performance applications through new technologies. We focus especially on the tolerance and resistance to the effects of radiation in high electron mobility transistors (HEMT) manufactured with gallium nitride (GaN) technology for power electronics space applications.
https://semizabala.com/
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