Pivotal Systems Selected as a 2016 Red Herring Top 100 Global

Marina Del Rey, California, November 17, 2016 — Red Herring announced its Top 100 Global in recognition of the leading private companies from North America, Europe, and Asia, celebrating these startups’ innovations and technologies across their respective industries.

Red Herring’s Top 100 Global list has become a mark of distinction for identifying promising companies and entrepreneurs. Red Herring editors were among the first to recognize that companies such as Facebook, Twitter, Google, Yahoo, Skype, Salesforce.com, YouTube, and eBay would change the way we live and work.

“Choosing the companies with the strongest potential was by no means a small feat,” said Alex Vieux, publisher and CEO of Red Herring. “After rigorous contemplation and discussion, we narrowed our list down from hundreds of candidates from across the globe to the Top 100 Winners. We believe Pivotal Systems embodies the vision, drive and innovation that define a successful entrepreneurial venture. Pivotal Systems should be proud of its accomplishment.”

“Pivotal Systems is much honored to win this prestigious award again. The introduction of the high flow controller (HFC) and ultra low flow GFC5 in 2016 demonstrates our continued mission of introducing innovative products for the semiconductor manufacturing industry” remarked Nori Kobayakawa, Pivotal System VP Global Marketing.

Red Herring’s editorial staff evaluated the companies on both quantitative and qualitative criteria, such as financial performance, technology innovation, management quality, strategy, and market penetration. This assessment of potential is complemented by a review of the track records and standing of startups relative to their peers, allowing Red Herring to see past the “buzz” and make the list a valuable instrument of discovery and advocacy for the most promising new business models from around the world.
Firsthand Technology Value Fund Holding Pivotal Systems Announces Record Quarterly Results and New Funding

San Jose, CA, October 31, 2016 – Firsthand Technology Value Fund, Inc. (NASDAQ: SVVC) (the “Fund”), disclosed today that Pivotal Systems, Inc. (“Pivotal”), a Fund holding since 2012, has announced results for the quarter ended September 30, 2016. Pivotal achieved record revenues and bookings in excess of $4 million, based on the accelerating adoption of the company’s Gas Flow Controller™ (GFC) technology by leading semiconductor companies. The company also noted that it already has received multiple repeat orders for its new line of High-Flow controllers (HFC), signifying rapid customer acceptance of the new products.
Pivotal Systems Completes a Series D $8.0 Million for Funding Manufacturing Expansion

Fremont, Calif., October 14, 2016 -- Pivotal Systems Corporation, a developer of best-in-class gas flow monitoring and control technology for the semiconductor manufacturing industry, today announced that it has raised $8.0 million in new equity funding. Anzu Partners, headed by David Michael, was the lead investor along with other accredited investors. Existing investors, including Firsthand Technology Value Fund (NASDAQ: SVVC), Pivotal Systems’ largest shareholder and Quan Fund (Geneva, Switz.) also participated in the new round.

Pivotal Systems’ flagship Gas Flow Controller (GFCTM) product, which was launched in 2012, replaces traditional mass flow controllers (MFCs) and provides real-time, in situ process monitoring and control technology to semiconductor manufacturers. With semiconductor manufacturing process technology scaling below 10 nanometers, Pivotal Systems has seen tremendous growth in 2016 and sees a significant increase in the demand in 2017 and beyond. “2016 has been a very solid year for growth and we expect continued substantial increase in semiconductor market share in 2017. To support this growth we will be expanding our manufacturing capacity by adding a facility in Asia,” said John Hoffman, Pivotal Systems’ Chief Executive Officer.

“Pivotal Systems has developed game-changing gas flow technology and we believe it’s only a matter of time until it becomes the industry standard,” remarked Kevin Landis, CEO of Firsthand Technology Value Fund. “We are delighted to support the expansion of this dynamic company.”
Pivotal Systems has Record Bookings and Revenue in Q3 2016

Fremont, CA, October 14, 2016 - Pivotal Systems, a leading manufacturer of the Gas Flow Controller (GFCTM), offering the fastest, most accurate gas flow control for the semiconductor manufacturing market, achieved record Q3 bookings (>$4.0 Mil.) and revenue due to the rapid adoption of the GFCTM at leading device manufacturers as well as leading semiconductor equipment companies.

John Hoffman, CEO, said, “Once again our leading customers have placed their faith in our technology. We are extremely grateful for the great support they provide us. As the semiconductor industry continues to move to more advanced technology nodes, it is becoming apparent that both our accuracy and repeatability are required.”
Pivotal Systems Introduces the GFC-H Product

Fremont, CA, September 15, 2016 - Pivotal Systems introduces its new Flow Controller, GFC-H-5L, GFC-H-20L and GFC-H -50L , for precise flow control up to maximum of 50 liters at an accuracy of ±1.0% of set point and a turn-on/turn-off time of of ≤200msec for 10% to 100% of the full scale flow. This new product compliments the existing GFC product family of GFC-20, GFC-200, GFC-1000 and GFC-2000 which will encompass all of the semiconductor processes.

Joseph Monkowski, CTO and President for Pivotal Systems, said, “Multiple repeat orders for the GFC-H placed by leading device manufacturer’s and equipment companies show the quick acceptance of our latest technology. We are quite pleased to once again bring solutions to the industry leaders.” Nori Kobayakawa, VP of Global Marketing for Pivotal Systems, added, “Flow from 2L to 50L require a new level of technical capability in both flow accuracy and control. We are pleased to provide that new level of performance to the industry. The introduction of the GFC-H enables Pivotal Systems to provide solutions across the entire semiconductor gas flow range.”
Pivotal Systems Selected as a 2015 Red Herring Top 100 Global

BEVERLY HILLS, Calif., November 23, 2015 — Red Herring announced its Top 100 Global in recognition of the leading private companies from North America, Europe, and Asia today, celebrating these startups’ innovations and technologies across their respective industries. Red Herring’s Top 100 Global list has become a mark of distinction for identifying promising new companies and entrepreneurs. Red Herring editors were among the first to recognize that companies such as Facebook, Twitter, Google, Yahoo, Skype, Salesforce.com, YouTube, and eBay would change the way we live and work.

“Choosing the companies with the strongest potential was by no means a small feat,” said Alex Vieux, publisher and CEO of Red Herring. “After rigorous contemplation and discussion, we narrowed our list down from hundreds of candidates from across the globe to the Top 100 Winners. We believe Pivotal Systems embodies the vision, drive and innovation that define a successful entrepreneurial venture. Pivotal Systems should be proud of its accomplishment.” Red Herring’s editorial staff evaluated the companies on both quantitative and qualitative criteria, such as financial performance, technology innovation, management quality, strategy, and market penetration. This assessment of potential is complemented by a review of the track records and standing of startups relative to their peers, allowing Red Herring to see past the “buzz” and make the list a valuable instrument of discovery and advocacy for the most promising new business models from around the world.
Pivotal Systems Ranked #301 and the #1 Engineering Company by Inc. 500

NYC, New York, August 12, 2015 -- Inc. magazine today ranked Pivotal Systems No. 301 on its 34th annual Inc. 500; an exclusive ranking of the nation's fastest-growing private companies. The list represents the most comprehensive look at the most important segment of the economy—America’s independent entrepreneurs. Companies such as Yelp, Pandora, Timberland, Dell, Domino’s Pizza, LinkedIn, Zillow, and many other well-known names gained early exposure as members of the Inc. 5000.

“Our goal is to be the leading global supplier of flow monitoring and control systems through meaningful innovation and enhanced customer productivity. The unrelenting commitment to our customers by our employees is what is driving Pivotal Systems’ success. We have been very fortunate that our customers are global industry leaders that welcome real innovation,” says CEO, John P. Hoffman.

The 2015 Inc. 5000, unveiled online at Inc.com and with the top 500 companies featured in the September issue of Inc. (available on newsstands August 18 to September 22) is the most competitive crop in the list’s history. The average company on the list achieved a mind-boggling three-year growth of 490%. The Inc. 5000’s aggregate revenue is $205 billion, generating 647,000 jobs over the past three years. Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000. "The story of this year’s Inc. 5000 is the story of great leadership. In an incredibly competitive business landscape, it takes something extraordinary to take your company to the top,” says Inc. President and Editor-In-Chief Eric Schurenberg. “You have to remember that the average company on the Inc. 5000 grew nearly six-fold since 2012. Business owners don’t achieve that kind of success by accident." The annual Inc. 5000 event honoring all the companies on the list will be held from October 21 through 23, 2015 in Orlando. Speakers include some of the greatest entrepreneurs of this and past generations, such as Marcus Lemonis, host of the CNBC show “The Profit,” Robert Herjavec, one of the main "sharks" on ABC-TV’s “Shark Tank,” KIND Founder and CEO Daniel Lubetzky, and Co-Founder of Goodshop.com JJ Ramberg.
Pivotal Systems Selected as a 2015 Red Herring Top 100 North America

San Diego, Calif, June 4, 2015 — Red Herring today announced its Top 100 North America award winners in recognition of the leading private companies from the region, celebrating these startups’ innovations and technologies across their respective industries...

“In 2015, selecting the top achievers was by no means a small feat,” said Alex Vieux, publisher and CEO of Red Herring. “In fact, we had the toughest time in years because so many entrepreneurs had crossed significant milestones so early. But after much thought, rigorous contemplation and discussion, we narrowed our list down from hundreds of candidates from across North America to the North America winners. We believe Pivotal Systems embodies the vision, drive and innovation that define a successful entrepreneurial venture. Pivotal Systems executive team and all its employees should be very proud of its accomplishment, as the competition was very strong.” Pivotal Systems CEO, John Hoffman added, “Pivotal Systems is extremely pleased to be selected by Red Herring as a top company for 2015. We take great pride in truly making a real difference in bringing advanced technology to the global market. To be selected by Red Herring tells us that we are on the right track”.

Red Herring’s editorial staff evaluated companies on both quantitative and qualitative criteria, such as financial performance, technological innovation and intellectual property, DNA of the founders, business model, customer footprint and addressable market. A review of the track record and standing of startups relative to their sector peers, allowed Red Herring to see past the “buzz” and make the list a valuable instrument of discovery and advocacy for the most promising new business models in North America, complement this assessment of potential.
Pivotal Systems, a leading manufacturer of the Gas Flow Controller (GFC), offering the fastest, most accurate gas flow control for the semiconductor manufacturing market, achieved record Q4 bookings and revenue due to the rapid adoption of the GFC at leading device manufacturers as well as leading semiconductor equipment companies. Joseph Monkowski, CTO and President for Pivotal Systems, said, “Our success in 2014 has been due to both the superior technology and production value of our GFC product as demonstrated by leading strategic device manufacturers around the world. I expect the sales to continue to grow at an accelerated pace as these customers continue to adopt the GFC in both their new leading edge production lines as well as retrofitting critical production tools on existing lines with our flow control technology.” Nori Kobayakawa, VP of Global Marketing for Pivotal Systems, added, “Our penetration into both strategic IDM’s and strategic global process equipment companies has shown the vision we had for the GFC was right on. This industry is about improving yield and reducing costs and the GFC Family of Products enables our key customers the opportunity to do both. We are extremely excited to continue to expand our global footprint and our product line at the direct request of our strategic customers.”
January 7, 2015
Pivotal Systems Corporation, a developer of best-in-class gas flow monitoring and control technology for the semiconductor manufacturing industry, today announced that it has raised $5.6 million in new equity funding. Network1 Financial Securities, a New Jersey-based broker dealer, was able to secure SJM Partners, headed by Stephen Garchik, as the lead investor along with other accredited investors. Existing investors, including Firsthand Technology Value Fund (NASDAQ: SVVC), Pivotal Systems’ largest shareholder, also participated in the new round. Pivotal Systems’ flagship Gas Flow Controller (GFC) product, which was launched in 2012, replaces traditional mass flow controllers (MFCs) and provides real-time, in situ process monitoring and control technology to semiconductor manufacturers. With semiconductor manufacturing process technology scaling below 14 nanometers, Pivotal Systems has seen tremendous growth in 2014 and sees a significant increase in the demand in 2015 and beyond. “2014 was a very solid year for growth and we expect substantial increase in semiconductor market share in 2015. We will also prepare to penetrate new markets like LED, flat panel and the solar,” said John Hoffman, Pivotal Systems’ Chief Executive Officer. “Pivotal Systems has very innovative technologies for gas flow control systems which could revolutionize this sector of the market,” added David Lerner, Vice President- Investments at Network 1 Financial Securities (Managing Member, Renrel Partners, LLC). “We are very pleased to partner with them in this unique high growth opportunity in the high technology sector.” Stephen Garchik, Managing Partner of SJM Partners, said, “We are excited to join the syndicate and assist in bringing this highly innovative and disruptive technology to new markets while accelerating market share gains in the highly competitive semiconductor space. Pivotal Systems has emerged as a global technology leader as evidenced by their outstanding technology as well as their superior distribution and support network.”
January 6, 2015
Pivotal Systems working with Accolade Engineering Solutions, Irvine, CA has demonstrated through multiple highly accelerated lifetime (HALT) tests where temperature cycling between - 60° C to 110° C were run to check the reliability of the GFC. Kelly McDonough, VP of Engineering said, “The GFC has been designed for very reliable performance and has demonstrated it by running with corrosive gases like Cl2 running in production lines for over 34 months but, never did I think we would be running with no issues at the temperature ranges we tested.”
October 17, 2014
The certified class 100 clean room improvements have doubled monthly capacity to approximately 4000 units per month. President and CTO Dr. Joseph Monkowski said, “the increased adoption of our flagship Gas Flow Controller product, the GFC, has exceeded our expectations. The product has proven to be a game changer for strategic device manufacturers operating at leading technology nodes. We are very pleased to learn that we have empowered better chamber to chamber matching by providing more accurate and repeatable gas flows. Our manufacturing improvements are critical for us to continue to effectively meet industry demand”.
October 6, 2014
Pivotal Systems is pleased to announce that the company’s quality management system has been certified to the ISO 9001:2008 standard, an industry benchmark that ensures consistent, high-quality products and services are being provided to customers. The ISO 9001:2008 standard is based on recognized principles of superior quality control, strong customer focus, motivation of top leaders, and commitment to continual improvement. Pivotal system’s certification was awarded after independent inspection and verification by DNV-GL, the industry’s leading certification body. A variety of internal audits were performed to test the company’s quality management system and processes. By meeting all the applicable requirements, Pivotal received the certificate with zero non-conformances. The certification process has a number of benefits. As Pivotal Systems improved its processes, it was also able to increase its efficiency. Because of the Semiconductor industry’s focus on Quality, Pivotal Systems believes that this certification will give its customers confidence in the quality of its products. “When our customers are looking for industry leading gas flow performance, we want them to be assured that Pivotal Systems is able to provide those products at the highest quality level,” said CEO John Hoffman. “Our customers are the focus of everything we do,” said VP of Quality Joseph Hajost. “We pride ourselves on meeting or exceeding all industry standards for safety, service and quality.” The ISO 9001:2008 standard was developed by the International Organization for Standardization (ISO), an independent, non-governmental membership organization and the world’s largest developer of voluntary International Standards. Over one million companies and organizations in over 170 countries have implemented the ISO 9001:2008 standard.
September 24, 2014
Pivotal System and Innotech Ltd. have signed a distributor agreement, where Innotech Ltd. will sell and service Pivotal System products for the Japanese market. Innotech Ltd. has a long history selling to the Semiconductor market and Pivotal Systems looks forward to growing its business in Japan with Innotech Ltd.
July 10, 2013
Pivotal System's GFC200 and GFC 2000 have been adopted on the common specification of the leading iDM. After 2 years of close cooperation, the GFC has successfully demonstrated its superior accuracy, response time, and reliability in a production environment on plasma Etch and CVD tool sets resulting in this qualification and selection.
June 30, 2013
Pivotal System moves to its new 12,000 sq. ft. facility at 48389 Fremont Blvd, Suite 100, Fremont, CA, 94538. The new facility will house the executive, sales and engineering offices. A 4000 sq. ft. class 10,000 clean room has also been added for additional manufacturing capacity.
June 24, 2013
Pivotal Systems releases its latest Gas Flow Controller (GFC2000) for maximum flows of up to 2000 sccm. This product compliments the industry's fastest and first self calibrating flow controller, the GFC 200. The GFC combines the patented GFMTM system with the patented control valve technology enabling more accurate flows, faster settling times, and repeatability capabilities demanded to ensure high yield and matched chambers. With the addition of this product, the GFC product family will be able to support most of the critical gases used in etch, ALD, and CVD processes.
April 16, 2013
Gas Flow Controller (GFC) Introduced at Semicon West 2011 July 12, 2011
GFC Enables an Order of Magnitude Performance Improvement in Gas Flow Control for Advanced Wafer Processing
Pivotal Publishes Joint Technical Papers with IBM and Samsung
July 1, 2011

Papers Highlight the Technical Innovations of Gas Flow Controller (GFC) and the Benefits of Gas Flow Monitor (GFM)
Pivotal’s Gas Flow Monitoring (GFM) Wins the 2011 R&D 100 Award
June 22, 2011

Experts, Editors Pick GFM as one of the Top High Technology Innovations of the Year
Pivotal Systems Awarded First Key Patent for Gas Flow Monitoring
December 10, 2010

Patent Establishes Pivotal at the Forefront of Gas Flow control For the Semiconductor Industry
Real-time In Situ Gas Flow Monitoring Specified for New Etch Tool Purchases by Leading IDMs
June 30, 2010

Leading IDMs Have Concluded that Real Time In Situ Gas Flow Monitoring is Critical for New Etch Tools
Pivotal Introduces GFM-800A – In Situ Gas Flow Monitoring With Absolute Accuracy of ±0.5%
May 25, 2010

GFM-800A Provides Necessary Accuracy For Advanced Node Wafer Processing Applications
Pivotal Systems Expands Executive Leadership Team with Global Sales Veterans
March 8, 2010

Cliff Neal Joins as Vice President of Global Sales – Augments Sales Team With Industry Veterans
Pivotal Introduces GFM-800 – Real Time In Situ Gas Flow Monitoring
Jan 18, 2011

GFM Delivers a Critical Real Time View into Gas Flow Delivery Systems for Chamber Matching
Pivotal’s Sensor X Achieves Design Win with a Leading OEM for Contamination, Conditioning and Dry Clean Optimization on CVD and Etch Tools
Sept 10, 2009

Atomic Level Excitation Allows for a Multitude of Applications and a Compelling ROI
Pivotal’s Sensor X Improves Leading OEM’s ALD Equipment Cost of Ownership
May 12, 2009

Sensor X Ability to Excite Titanium in Dry Clean Processes Allows for Dramatic Improvement in Tool
Productivity
Pivotal Moves Headquarters to Larger Office to Accommodate for Higher Growth
July 8, 2008

Company Poised to Ramp With the Semiconductor Industry
Industry Veteran Omesh Sharma joins Pivotal Systems as CFO
June 27, 2008

Appointment is an Important Milestone for the Growth and Maturity of Pivotal
Industry Veteran John Hoffman joins Pivotal Systems as CEO
June 6, 2008

Appointment Comes as Pivotal Experiences High Growth
Pivotal’s Sensor X Achieves a Design Win with a Leading OEM for Low Exposed Area Etch End Point Detection
July 9, 2007

Atomic Level Vision Allows for Robust End Pointing of Low Exposed Area Oxide Etch Processes
Pivotal Introduces Sensor X – An Unprecedented Atomic Level Gas Composition Analysis Tool
March 23, 2007

Sensor X Offers a Multitude of Applications for Real Time Monitoring of the Wafer Processing Environment
Pivotal Introduces Industry’s First In Situ Leak Detection System for CVD Systems
March 10, 2006

Pivotal’s LeakDetect Identifies Atmospheric Micro-Leaks During Wafer Processing
Pivotal Raises $10 million in Funding to Meet Growing Demand for its Real Time Monitoring and
Control Solutions

December 23, 2005

Financing aimed at expanding product portfolio and accelerating IDM and OEM penetration
Pivotal Introduces Industry’s First Advanced Etch End Point System with Adoption by Leading IDMs
July 15, 2005

Pivotal’s Omega 3.0 Provides Reliable End Pointing of Low Exposed Area Oxide Etches
Pivotal Raises $7 million in funding
April 30, 2004

Pivotal Systems capitalizing on fundamental shifts in the semiconductor manufacturing market by providing
real time process monitoring and control