Eagle Electronics – a new leader in high-tech electronics and cellular module production – announced it has raised $14 million, led by the O.H.I.O. Fund with participation from Asymmetric Capital Partners, to establish manufacturing technology and operations in Solon, Ohio, in partnership with CO-AX Technology. This initiative marks a significant milestone in the company’s commitment to onshoring the advanced high-tech supply chain to the US.
Eagle Electronics’ new facility aims to be the most advanced electronics manufacturing plant in the United States, leveraging cutting-edge surface-mount technology manufacturing equipment. And the Solon, Ohio manufacturing operation is also expected to create numerous jobs in Ohio, further establishing the state as a key player in the U.S. semiconductor industry.
The company now sees demand for American-made cellular modules and has signed up several customers. And Boston-based Cherish has contracted with Eagle to advance its goal of sourcing components for its health and safety monitoring products manufactured in its customers’ communities.
KEY QUOTES:
“This is a major moment for Eagle and our vision of onshoring and securing America’s critical technologies. Our goal is to set a new standard for electronics manufacturing in the U.S., 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.”
– TJ Dembinski, Co-Founder & CEO of Eagle Electronics
“Eagle is further proof that Ohio is becoming one of the world’s leading semiconductor manufacturing hubs. 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.”
– Ohio’s Lieutenant Governor Jon Husted
“Our customers trust us to invite our products into their homes to monitor the health and safety of loved ones. Our work with Eagle helps deepen this trust with, in this case, cellular modules manufactured in the U.S.A. This is good for us, our customers, and the communities we serve.”
– Sumit Nagpal, Cherish’s Founder & CEO
“Our partnership with Cherish Health demonstrates the market’s confidence in our ability to deliver high-quality, state-of-the-art cellular modules. We look forward to expanding our customer base as we ramp production and continue to innovate in the cellular module and electronics manufacturing spaces.”
– Mark Kvamme, Eagle’s Co-Founder & Chairman
“Some customers need access to cellular modules that are made in the United States. We are excited to partner with Eagle Electronics to be able to offer customers the option to procure U.S.-made and cyber-secure modules and we’re thrilled to be part of bringing production jobs back to the U.S.”
– Norbert Muhrer, Quectel’s President and CSO
“Eagle’s domestic production, coupled with the company’s partnership with Finite State, will go a long way in assuaging security concerns that are inherent with any connected technology. We believe our approach will be the most secure offering in the market.”
– Former Head of the CIA Directorate of Science & Technology and Eagle Board Member, Dawn Meyerriecks
