CGPOWER : AXIRO INVESTS IN THINSIC AS LEAD INVESTOR, SIGNS COMMERCIAL PACT

• Wholly owned subsidiary Axiro Semiconductor Pvt Ltd joins ThinSiC Inc. as lead investor in its latest financing round • Also enters a long-term commercial partnership to support development and commercialisation of ThinSiC's silicon carbide power device technology • ThinSiC is a Santa Clara, California-based semiconductor company developing low-cost, high-voltage SiC power devices for electrification, power transmission and industrial systems • Investment extends Axiro beyond RF, mmWave and advanced connectivity into power electronics; SiC positioned as alternative to silicon in rail traction, industrial drives and grid infrastructure • Axiro to act as strategic commercial channel for ThinSiC's technology in India and beyond, leveraging CG Power's power transmission and industrial infrastructure presence • No investment amount disclosed in the release

CG Power and Industrial Solutions Ltd

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