Phoseon takes wraps off expansion

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Phoseon Technology Inc., which sells environmentally friendly ultraviolet LED curing technology, on Wednesday announced a significant expansion of its headquarters in Hillsboro — boosting its manufacturing capacity by about 50 percent.

The company, founded in 2002 and backed by $12 million in Northwest venture capital, anticipates the growth will lead to a fatter revenue stream — as much as $80 million by 2015.

Phoseon CEO Bill Cortelyou said in a statement: "Phoseon is a true Oregon success story – Oregon entrepreneurs and significant Oregon venture funding have made the success possible. We plan to continue to grow in Oregon – bringing much needed manufacturing, engineering and other professional job opportunities to the local economy."

As Erik Siemers reported last month in the Portland Business Journal, Phoseon's products generate ultraviolet rays using LED light technology to dry and cure coatings. While about two-thirds of the company's business is currently in the printing industry, the technology is applicable in other industries.

Phoseon taps semiconductor technology and uses it to facilitate a greener curing process that consumes less energy, an attractive proposition for companies looking to reduce their environmental impact.

The expansion allows Phoseon to expand to 40 employees by the end of the year and to 50 next year.

Phoseon's investors include Capybara Venture, Fluke Venture Partners, PacRim Venture Partners and SmartForest Ventures.

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