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 fulfilled a new
purchase order and shipped samples of its 5.2 GHz and 5.6 GHz WiFi
coexistence filters to a fifth potential customer, a tier-1,
multi-billion-dollar WiFi OEM.
Akoustis is the first and only company to offer
a tandem 5.2/5.6 GHz WiFi coexistence solution using BAW
micro-filter technology. Each of the Akoustis XBAW™ 5 GHz
filters are up to 23 times smaller than incumbent technologies
including dielectric resonator (DR) ceramic filters.
The customer is a leading enterprise-focused
WiFi OEM that has previously evaluated Akoustis’ 5.2 GHz filter for
use in tri-band WiFi MU-MIMO designs and is now evaluating the 5.2
GHz and 5.6 GHz coexistence filters. The samples shipped provide
this OEM its first opportunity to evaluate the 5.6 GHz filter which
Akoustis completed in the September 2019 quarter. If the evaluation
is successful, the customer is targeting MU-MIMO WiFi products that
would include the tandem filter solution once final qualification
is achieved.
This marks the fifth WiFi customer currently
evaluating Akoustis’ patented tandem WiFi filter solution for
potential use in a future commercial product.
Jeff Shealy, Founder and CEO of Akoustis,
stated, “Our 5 GHz XBAW™ micro-filter solution continues to see
growing interest as we move closer to securing design wins and
commencing commercial production for multiple customers.” Mr.
Shealy continued, “The Company continues to expand its sales funnel
of near-term revenue opportunities for high-band, high-performance
XBAW™ filters for the defense, WiFi, 5G infrastructure and 5G
mobile markets, providing us with diversification with respect to
design wins and timing of commercial production.”
The 5.2 GHz and 5.6 GHz WiFi 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 and five S-Band filters
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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