IQE plc : Key CPV Solar Technology Process Transfer milestones completed - commercial production on track for 2013
06 December 2012 - 6:00PM
Cardiff, UK. 6 December
2012. IQE plc (AIM: IQE, "IQE" or the "Group"), the
leading global supplier of advanced semiconductor wafer products
and services to the semiconductor industry, today announces the
achievement of several key technology transfer milestones that
represent highly significant progress in its commercial
relationship with Solar Junction.
In February 2012, IQE announced an exclusive
manufacturing and technology transfer agreement with Solar Junction
and laid out a series of milestones. These milestones were designed
to culminate in the delivery of full 3Junction (3J) structures to
Solar Junction based on successful installation and commissioning
of customized production scale MBE tools, and subsequent technology
transfer from Solar Junction. Completion of this was planned for
the fourth quarter of 2012.
IQE and Solar Junction are pleased to announce the
successful completion of these milestones and the delivery of full
3J wafers using the transferred process to Solar Junction.
Commercial production is expected to begin in the first half of
2013, initially with customer product qualification quantities,
moving to volume production in the second half of the
year.
Independently, Solar Junction has successfully
qualified its cells to full IEC specifications with several
customers, and is strongly engaged with all leading CPV systems
houses.
Dr Drew Nelson, IQE Chief Executive, said:
"Our deal
with Solar Junction earlier this year will significantly accelerate
our well established CPV strategy and position us to become the key
epiwafer supplier to the CPV market. The combination of Solar
Junction's core materials IP and technology, with its recently
improved world record efficiencies of 44%, together with our own IP
and manufacturing capabilities, provides a compelling route to
significantly higher cell efficiency and cost effective, high
volume production for the CPV industry.
"That
combination is now all but complete and we are on track to move to
commercial volume production during
2013.
"As we
approach the end of our financial year, we are also confident that
we will meet our earnings expectations. The transformational deals
completed with Solar Junction and RFMD earlier this year are highly
complementary and position the Group for accelerating growth in
rapidly expanding markets."
Contacts:
IQE plc +44 (0) 29
2083 9400
Drew Nelson
Phil Rasmussen
Chris Meadows
Espirito Santo Investment Bank + 44 (0)
20 7456 9191
Richard Crawley
Canaccord Genuity + 44 (0) 20 7523
8000
Simon Bridges
Cameron Duncan
College Hill +44 (0) 20 7457
2020
Adrian Duffield
Kay Larsen
Note to Editors
IQE is the leading global supplier of advanced
semiconductor wafers with products that cover a diverse range of
applications, supported by an innovative outsourced foundry
services portfolio that allows the Group to provide a 'one stop
shop' for the wafer needs of the world's leading semiconductor
manufacturers.
IQE uses advanced crystal growth technology
(epitaxy) to manufacture and supply bespoke semiconductor wafers
('epi-wafers') to the major chip manufacturing companies, who then
use these wafers to make the chips which form the key components of
virtually all high technology systems. IQE is unique in being able
to supply wafers using all of the leading crystal growth technology
platforms.
IQE's products are found in many leading-edge
consumer, communication, computing and industrial applications,
including a complete range of wafer products for the wireless
industry, such as mobile handsets and wireless infrastructure,
Wi-Fi, WiMAX, base stations, GPS, and satellite communications;
optical communications. The Group also manufactures advanced
optoelectronic and photonic components such as semiconductor
lasers, vertical cavity surface emitting lasers (VCSELs) and
optical sensors for a wide range of applications including optical
storage (CD, DVD, BluRay), thermal imaging, leading-edge medical
products, pico-projection, finger navigation ultra-high brightness
LEDs, and high efficiency concentrator photovoltaic (CPV) solar
cells.
The manufacturers of these chips are increasingly seeking to
outsource wafer production to specialist foundries such as IQE in
order to reduce overall wafer costs and accelerate time to
market.
IQE also provides bespoke R&D services to
deliver customised materials for specific applications and offers
specialist technical staff to manufacture to specification either
at its own facilities or on the customer's own sites. The Group is
also able to leverage its global purchasing volumes to reduce the
cost of raw materials. In this way, IQE's outsourced services,
provide compelling benefits in terms of flexibility and
predictability of cost, thereby significantly reducing operating
risk.
IQE operates nine facilities located in
Cardiff (two), Milton Keynes and Bath in the UK; in Bethlehem,
Pennsylvania, Somerset, New Jersey, Greensboro, North Carolina and
Spokane, Washington in the USA; and Singapore. The Group also has
11 sales offices located in major economic centres worldwide.
This
announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the
information contained therein.
Source: IQE plc via Thomson Reuters ONE
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