Eagle Electronics Building OH Manufacturing Facility
SOLON, OH – Eagle Electronics has raised $14 million to build a new manufacturing facility here in partnership with CO-AX Technology.
The EMS provider and producer of cellular modules said it plans to use the funding, led by the OHIO Fund with participation from Asymmetric Capital Partners, to build the most advanced electronics manufacturing plant in the US, leveraging cutting-edge surface-mount technology manufacturing equipment.
"This is a major moment for Eagle and our vision of onshoring and securing America's critical technologies," said TJ Dembinski, co-founder and CEO of Eagle Electronics. "Our goal is to set a new standard for electronics manufacturing in the US, combining the most advanced automated manufacturing and testing technology with rigorous hardware and software cyber-security testing throughout the supply chain. This offering will allow Eagle to onshore critical knowledge and essential technologies, all while continuing to cement the United States' leadership in the chip industry."
The new operation is also expected to create numerous jobs in Ohio, further establishing the state as a key player in the US semiconductor industry.
"Eagle is further proof that Ohio is becoming one of the world's leading semiconductor manufacturing hubs," said Ohio Lt. Gov. Jon Husted. "With the addition of Eagle, we're bringing more jobs in this sector to Northeast Ohio, reinforcing our commitment to the 'Made in Ohio' strategy."
Eagle said it is already seeing demand for American-made cellular modules, with Boston-based Cherish contracting with Eagle to source components for its health and safety monitoring products manufactured in the communities where its customers live.
"Our customers trust us to invite our products into their homes to monitor the health and safety of loved ones," said Cherish CEO Sumit Nagpal. "Our work with Eagle helps deepen this trust with, in this case, cellular modules manufactured in the USA. This is good for us, our customers, and the communities we serve."
"Our partnership with Cherish Health demonstrates the market's confidence in our ability to deliver high-quality, state-of-the-art cellular modules," added Mark Kvamme, Eagle's co-founder and chairman. "We look forward to expanding our customer base as we ramp production and continue to innovate in the cellular module and electronics manufacturing spaces."
