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 completed development
and shipped two additional new 5G XBAWTM filters to its tier-1
mobile customer for handsets and other devices.
Akoustis successfully completed the design and
prototype shipment of its first 5G mobile XBAW filter to its tier-1
customer in June 2019 after just two months of development. In
July, the tier-1 customer awarded Akoustis a follow-on order for
the development of two additional new 5G mobile filters in the
sub-6 GHz radio frequency spectrum. Today’s announcement marks the
completion and shipment of the new 5G XBAW™ filters targeting
mobile devices, achieving the Company’s CYQ4 corporate milestone
related to the mobile market.
Shortly after delivery of the new 5G mobile
filters, Akoustis received a follow-on order from its customer for
additional samples of the 5G filters. The two filters are expected
to ship in early calendar 2020.
With the development of three 5G mobile filters
in the UHB sub-6 GHz bands, Akoustis continues to demonstrate its
expertise and capability in high-performance coexistence BAW micro
filter solutions above 3 GHz.
As the sub-6 GHz 5G new radio (NR) UHB spectrum
resides above 3 GHz, future filter solutions will be needed to
resolve coexistence issues in 5G mobile devices. Akoustis has
already developed commercial filter products at 3.8 GHz, 4.9 GHz,
5.2 GHz and 5.6 GHz across multiple end markets, proving it can
produce BAW filters at the higher frequencies associated with 5G
targeting sub-6 GHz spectrum.
Jeff Shealy, Founder and CEO of Akoustis,
stated, “With this key achievement related to the mobile market,
Akoustis continues to execute on important corporate milestones.
Developing and delivering three 5G ultra-high band XBAW™ mobile
filters in less than nine months is a significant achievement by
the team at Akoustis. The Company continues to explore avenues to
address opportunities for high-performance XBAW™ filters for the 5G
mobile market.”
Mobile represents the largest potential market
for the Company by both volume and revenue, with approximately 1.5
billion smartphones shipped in 2018 according to a February 2019
Gartner report. The two new 5G mobile filters are 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 4.9 GHz band n79 filter for small cell
network infrastructure, 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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