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On March 24, 2025, IQE plc announced it has secured $5.8 million in purchase orders from two existing Infrared sensing customers for epitaxial wafers and base substrates. The orders include a three-year agreement with a first-year binding purchase order of $1.7m and a $4.1m purchase order for antimonide substrates with delivery into 2026.
| Date | 24 Mar 2025 |
| Time | 07:00:02 |
| Category | Miscellaneous |
| ID | 7382B |
IQE plc
Cardiff, UK
24 March 2025
IQE secures $5.8m Infrared customer commitments
IQE plc (AIM: IQE, "IQE" or the "Group"), the leading global supplier of compound semiconductor wafer products and advanced material solutions, is pleased to announce that it has secured $5.8m in purchase orders for the provision of epitaxial wafers and base substrates from two long-standing Infrared ("IR") sensing customers.
The orders will enable a wide range of IR detector technologies and key sensing applications across the industrial, aerospace and security sectors. These commitments are the largest purchase orders to date that IQE has received from these two customers and underscore strong growth within the IR sensing market. They include:
· A three-year long-term agreement which includes a first-year binding purchase order commitment of $1.7m for gallium antimonide (GaSb) epitaxial wafers, and research and development.
· A $4.1m purchase order from an existing customer for the delivery of antimonide substrates into 2026.
These new commitments underpin confidence in management's 2025 financial plans.
Jutta Meier, Interim CEO and Chief Financial Officer of IQE, commented:
"These commitments underscore a growing demand for advanced infrared technologies and the strength of IQE's IR product portfolio. As a pioneer in antimonide materials technology, IQE continues to drive innovation supported by long-term customer relationships, developing high-performance platforms that are expanding into mass market applications."
Contacts:
IQE plc
+44 (0) 29 2083 9400
Mark Cubitt
Jutta Meier
Amy Barlow
Peel Hunt (Nomad and Joint Broker)
+44 (0) 20 7418 8900
Ben Cryer
Kate Bannatyne
Adam Telling
Deutsche Numis (Joint Broker)
+44 (0) 20 7260 1000
Simon Willis
Hugo Rubinstein
Iqra Amin
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
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 manufacturing locations in the UK, US and Taiwan, and is listed on the AIM Stock Exchange in London.