Akoustis Announces New Purchase Order from Defense Customer for Five XBAW™ Filters
July 16 2019 - 7:00AM
Akoustis Technologies, Inc. (NASDAQ: AKTS) (“Akoustis” or
the “Company”), an integrated device manufacturer (IDM) of patented
bulk acoustic wave (BAW) high-band RF filters for mobile and other
wireless applications, announced today it has received a new
purchase order from its defense customer for the development of
five new S-Band filters. These new filters operate within the
S-Band frequency spectrum (2 to 4 GHz) and are aligned with the
Company’s filter developments supporting 5G.
Akoustis recently completed development of its
3.8 GHz filter with a new outsourced packaging supplier—improving
the scale and delivery of XBAW™ filter product to its defense
customer. With recent shipments against multiple open 3.8 GHz
orders, this customer is now expanding its relationship with
Akoustis with the order for five new S-Band frequencies.
Akoustis will begin to recognize development
revenue in the near term and is expected to deliver samples of the
new filters in the second half of CY19. Production is expected to
ramp in CY20. The new filter designs will be integrated into
receiver modules for multi-element, active phased array radar (PAR)
systems.
Jeff Shealy, Founder and CEO of Akoustis,
stated, “We are thrilled to be growing our relationship with our
defense customer from one filter design in production today to
include five new filters in development.” Mr. Shealy
continued, “We are pushing toward our goal of making this first
defense customer a multi-million-dollar account now that we are an
approved supplier, with our 3.8 GHz filter product in production
and the opportunity to expand our product offering in support of
their new radar defense programs.”
The 3.8 GHz filter is designed and manufactured
using the Company’s patented XBAW process and manufactured in the
Company’s Si-MEMS Wafer Fab located in Canandaigua, NY.
Akoustis has introduced several new filters over
the past twelve months including a 5.6 GHz WiFi filter, a 5.2 GHz
WiFi filter, a 3.8 GHz filter for defense phased-array radar
applications, a 3.6 GHz filter for the CBRS infrastructure market
and Band 25 downlink and uplink filters for LTE infrastructure. The
Company is also developing several new filters for the sub 7 GHz
bands targeting 5G mobile device, network infrastructure, WiFi CPE
and defense markets.
About Akoustis Technologies,
Inc.
Akoustis® (www.akoustis.com) is a high-tech BAW
RF filter solutions company that is pioneering next-generation
materials science and MEMS wafer manufacturing to address the
market requirements for improved RF filters - targeting higher
bandwidth, higher operating frequencies and higher output power
compared to incumbent polycrystalline BAW technology
deployed today. The Company utilizes its proprietary XBAW
manufacturing process to produce bulk acoustic wave RF filters
for mobile and other wireless markets, which facilitate
signal acquisition and accelerate band performance between the
antenna and digital back end. Superior performance is
driven by the significant advances of high-purity,
single-crystal and associated piezoelectric materials and the
resonator-filter process technology which drives electro-mechanical
coupling and translates to wide filter bandwidth.
Akoustis plans to service the fast growing
multi-billion-dollar RF filter market using its integrated
device manufacturer (IDM) business model. The Company owns and
operates a 120,000 sq. ft. ISO-9001:2015
certified commercial wafer-manufacturing facility located in
Canandaigua, NY, which includes a class 100 / class 1000 cleanroom
facility - tooled for 150-mm diameter wafers - for the
design, development, fabrication and packaging of RF filters, MEMS
and other semiconductor devices. Akoustis Technologies,
Inc. is headquartered in the Piedmont technology
corridor near Charlotte, North Carolina.
Forward-Looking Statements
This document includes “forward-looking statements” within the
meaning of Section 27A of the Securities Act, and Section 21E of
the Securities Exchange Act of 1934, as amended, that are intended
to be covered by the “safe harbor” created by those
sections. These forward-looking statements include, but are
not limited to, statements about our estimates, expectations,
beliefs, intentions, plans or strategies for the future (including
our possible future results of operations, business strategies,
competitive position, potential growth opportunities, potential
market opportunities and the effects of competition), and the
assumptions underlying such statements. Forward-looking statements
include all statements that are not historical facts and typically
are identified by use of terms such as "may," "will," "should,"
"could," "expect," "plan," "anticipate," "believe," "estimate,"
"predict," “intend,” “forecast,” “seek,” "potential," "continue"
and similar words, although some forward-looking statements are
expressed differently. Forward-looking statements are neither
historical facts nor assurances of future performance. Instead,
these forward-looking statements are based on management’s
current beliefs, expectations and assumptions and are subject to
risks and uncertainties. Factors that could cause actual
results to differ materially from those currently anticipated
include, without limitation, risks relating to the results of our
research and development activities, including uncertainties
relating to semiconductor process manufacturing; the development of
our XBAWTM technology and products presently under development
and the anticipated timing of such development; our ability to
protect our intellectual property rights that are valuable to our
business, including patent and other intellectual property rights;
our ability to successfully manufacture, market and sell products
based on our technologies; the ability to achieve qualification of
our products for commercial manufacturing in a timely manner and
the size and growth of the potential markets for any products so
qualified; the rate and degree of market acceptance of any of our
products; our ability to raise funding to support operations and
the continued development and qualification of our products and the
technologies underlying them; and our ability to service our
outstanding indebtedness. These and other risks and uncertainties
are described in more detail in the Risk Factors and Management’s
Discussion and Analysis of Financial Condition and Results of
Operations sections of the Company’s most recent Annual Report on
Form 10-K and in subsequently filed Quarterly Reports on Form 10-Q.
Considering these risks, uncertainties and assumptions, the
forward-looking statements regarding future events and
circumstances discussed in this document may not occur, and actual
results could differ materially and adversely from those
anticipated or implied in the forward-looking statements. You
should not rely upon forward-looking statements as predictions of
future events. The forward-looking statements included in this
document speak only as of the date hereof and, except as required
by law, we undertake no obligation to update publicly or privately
any forward-looking statements, whether written or oral, for any
reason after the date of this document to conform these statements
to new information, actual results or to changes in our
expectations.
Contact:
COMPANY:
Tom Sepenzis
Akoustis Technologies
VP of Corporate Development & IR
(980) 689-4961
tsepenzis@akoustis.com
The Del Mar Consulting Group, Inc.
Robert B. Prag, President
(858) 794-9500
bprag@delmarconsulting.com
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