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- New Customer is a Global Supplier of RF Solutions -
- First Purchase Order Received for Multiple WiFi Filter Product Solutions -
- Non-Exclusive Engagement Strengthens Position in WiFi CPE -
- First 80,000 Units of Akoustis’ 5.2 GHz WiFi Filter Product Shipped to Customer -
Charlotte, N.C., April 02, 2019 (GLOBE NEWSWIRE) -- Akoustis Technologies, Inc. (NASDAQ: AKTS) (“Akoustis” or the “Company”), a design and manufacturer of patented bulk acoustic wave (BAW) high-band RF filters for mobile and other wireless applications, announced today it has signed a new supply agreement with a global RF supplier for multiple XBAW™ RF filter solutions.
Akoustis has already received a volume purchase order from the new customer and successfully shipped more than 80,000 units of its 5.2 GHz WiFi filter product during the quarter ending March 31, 2019.
As part of this announcement, Akoustis and the global RF company have executed a non-exclusive product development and supply agreement for RF coexistence filters along with a statement of work for new WiFi customer premise equipment (CPE) filter solutions to support the customer’s expanding product portfolio. Akoustis expects to make additional commercial volume shipments to this customer later this calendar year.
The Company was chosen to leverage Akoustis’ WiFi filter advantages which include an ultra-small form factor, wide bandwidth and high-power handling. Akoustis’ WiFi filters are developed and manufactured in its Canandaigua, NY fabrication facility using its proprietary XBAW process.
Jeff Shealy, Founder and CEO of Akoustis said, “This new agreement represents the most significant validation of our XBAW technology to date, while enhancing our opportunities in the WiFi CPE market.” Mr. Shealy continued, “Equally important, this shipment represents our first volume delivery of our 5.2 GHz WiFi filters, demonstrating our ability to scale XBAW production.”
Akoustis previously achieved first XBAW filter product revenue in the September 2018 quarter. Today’s announcement demonstrates a successful ramp of the Company’s supply chain for XBAW filters over the last six months.
Akoustis has introduced several new filters over the past twelve months including its 5.2 GHz and 5.6 GHz WiFi co-existence filters, a 3.8 GHz filter for military 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 military 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.
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 firstname.lastname@example.org The Del Mar Consulting Group, Inc. Robert B. Prag, President (858) 794-9500 email@example.com