IQE plc

Reach

Cardiff, UK

19 September 2023

IQE announces strategic collaboration with VisIC Technologies

-     Partnership to develop next-generation D-Mode GaN Power Devices

-     GaN Power 200mm (8") epiwafers for EV applications

IQE plc (AIM:  IQE, "IQE" or the "Group"), the leading supplier of compound semiconductor wafer products and advanced material solutions to the global semiconductor industry, is pleased to announce a strategic collaboration with VisIC Technologies, a global leader in the provision of GaN (Gallium Nitride) power solutions to the automotive sector, to develop the highest reliability gallium nitride D-Mode (D-Mode GaN) power products for use in electric vehicles inverters.

IQE and VisIC Technologies will collaborate to develop 200mm (8") D-Mode GaN power epiwafers that will be developed at IQE's UK facilities, leveraging IQE's well-established expertise in GaN technology.

VisIC Technologies, with its ground-breaking D³GaN technology (Direct Drive D-Mode GaN), brings the future of EV inverters into focus. This technology promises to reduce power consumption, increase reliability and enhance performance in electric vehicles. By combining VisIC Technologies' innovative Power Electronics solutions with IQE's epitaxy excellence, this partnership aims to accelerate the adoption of GaN-on-Silicon technology in EVs, significantly contributing to the evolution of sustainable transportation.

The collaboration marks another important milestone in IQE's strategy of diversification into the high-growth Power market, first announced at its 2022 Capital Markets Day. IQE sees significant opportunities in the GaN Power epiwafer market in particular, which is forecast to reach a $632m value by 2027*.

Americo Lemos, Chief Executive Officer of IQE, commented:

"We are pleased to announce this collaboration with VisIC Technologies to develop GaN power technologies for use in electric vehicles. Our combined expertise in the field makes this an ideal partnership. This is another sign of the progress we are making in our diversification strategy, as we look to capture the significant growth opportunities in the GaN automotive power market, which is vital in supporting the transition to electric vehicles."

Dr Tamara Baksht, Chief Executive Officer and Co-Founder of VisIC Technologies, added:

"We believe that teaming up with IQE is a pivotal step towards reshaping the EV industry. Their track record of delivery in the sector and technological leadership means they are ideally placed for us to collaborate with to develop next-generation technology to power the electric vehicle revolution. Our D-Mode D³GAN technology has the potential to transform electric vehicles, making them more efficient, reliable, and sustainable. Together, we are poised to create a brighter and greener future for transportation. The co-operation brings higher availability of ground-breaking technology for GaN-on-Silicon and paves the way for a resilient supply chain to serve the automotive industry."

*Source: Yole Group, 2022

Contacts:

IQE plc

+44 (0) 29 2083 9400

Americo Lemos

Neil Rummings

Amy Barlow

Headland Consultancy (Financial PR)
+ 44 (0) 20 38054822

Andy Rivett-Carnac: +44 (0) 7968 997 365

Chloe Francklin: +44 (0)78 3497 4624

ABOUT IQE

http://iqep.com

IQE is the leading global supplier of advanced compound semiconductor wafers and materials solutions that enable a diverse range of applications across:

·    Smart Connected Devices

·    Communications Infrastructure

·    Automotive and Industrial

·    Aerospace and Security

As a scaled global epitaxy wafer manufacturer, IQE is uniquely positioned in this market which has high barriers to entry. IQE supplies the global market and is enabling customers to innovate at chip and OEM level. By leveraging the Group's intellectual property portfolio including know-how and patents, it produces epitaxy wafers of superior quality, yield and unit economics.

IQE is headquartered in Cardiff UK, with employees across eight manufacturing locations in the UK, US and Taiwan, and is listed on the AIM Stock Exchange in London.