1 Limited announces a new name, a Series C funding round and a strengthened management team

Cambridge, UK, August 27, 2008, 1 Limited, a leading developer of electronic actuator Intellectual Property targeted at high volume consumer applications, today announced a range of measures to position itself to take advantage of the growing markets for high precision, low cost, low energy miniature actuators. Central to the new look company is the change of name from 1 Limited to Cambridge Mechatronics.

Research undertaken illustrated that the company’s international brand would benefit from an association with its location within the technology centre of Cambridge and with its core competency of inventing and developing electronically controlled mechanical actuators. Following a further multi-million pound Series C funding round from its existing private investors, Cambridge Mechatronics is now positioned to exploit the numerous growing markets that require its technology.

Technology and Branding

The 1… brand is retained for the company’s 5.1 surround sound audio technology offering, due to the fact that it is already established with key audio and television manufacturers, such as Pioneer, Yamaha, Grundig, Beko and Mitsubishi.

Cambridge Mechatronics will now focus the business as a technology innovator and intellectual property licensor. The company currently has three core technology platforms; 1… Digital Sound Projector (DSP) (based on phased actuator arrays) providing low-cost high quality audio; Helimorph (based on PZT super helix) providing ultra-low energy use actuation; and Xlinea (based on Shape Memory Alloy (SMA)) offering the World’s smallest and lightest precision actuators.

Growing Licensee Base

The 1… DSP platform is already profitable despite the fact that it is only just beginning its entry into the 100 Million units a year Flat Panel TV business. This summer, three manufacturers, Beko, Mitsubishi and Grundig launched TVs using the 1… DSP, 5.1 Surround Sound technology, to universally positive reviews. Cambridge Mechatronics and its semiconductor licensee, Micronas Gmbh, are confident that several more FPTV companies will take licenses during the current industry wide new model review.

Many industry observers see the Xlinea SMA platform as the next dominant technology in the miniature camera auto-focus actuator market. As this market is driven by mobile camera-phone demand the volumes involved run into the 100’s of millions. The ever-increasing demand for smaller, higher resolution and cheaper cameras means that the tiny and almost weightless SMA based actuators are the only viable solution for some mobile phone applications. The company expects to announce multiple Xlinea licensees in the coming 12 months.

New CEO

A strengthened management team is in place offering increased focus on research and development. The appointment of Simon Calder as Chief Executive Officer, also gives the company a new dimension to its sales and marketing activities. Mr Calder is an experienced early stage technology company CEO, who has previously guided another UK based, VC backed technology company to a successful exit when he sold SpiraTech Ltd, to Mentor Graphics Corp. During his decade tenure in Silicon Valley, Mr Calder also enjoyed the experience of both a highly oversubscribed IPO and a multi-billion dollar trade sale after joining start-up network processor pioneer MMC Networks in the mid nineties.

“We have a new name and new working capital, however our technologies are mature and ripe for harvest,” stated Mr Calder, “The company did the really tough jobs of inventing and pioneering before my arrival. I now have the relatively easy job of leading the delivery of our complete and disruptive technologies into growing and receptive markets”.