Infineon Expands Supply Base for Silicon Carbide with GT Advanced Technologies

MUNICH, Germany and HUDSON, N.H., Nov. 09, 2020 (GLOBE NEWSWIRE) -- Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) and GT Advanced Technologies (GTAT) have signed a supply agreement for silicon carbide (SiC) boules. The contract has an initial term of five years. With this supply contract, the German semiconductor manufacturer adds a further element to secure its growing base material demand in this area. SiC is the basis for power semiconductors that are particularly efficient, robust, and cost-effective at the system level. Under the name CoolSiC™ Infineon now already markets the industry’s largest product portfolio for industrial applications and is rapidly expanding its offering towards consumer and automotive products.

"We are seeing a steadily increasing demand for SiC-based switches, especially for industrial applications," says Peter Wawer, President of Infineon’s Industrial Power Control Division. "However, it has become clear that the automotive sector is quickly following suit. With the supply agreement we have now concluded, we ensure that we will be able to meet the rapidly growing demand of our customers with a diversified supplier base. GTAT’s high-quality boules will provide an additional source for competitive SiC wafers fulfilling the best-in-class material standards now and in the future. This supports our ambitious SiC growth plans, making good use of our existing in-house technologies and core competencies in thin-wafer manufacturing.”

“We are very excited to enter into a long-term supply agreement with Infineon,” says Greg Knight, President and CEO of GT Advanced Technologies. “GTAT will enable Infineon to achieve a secure, high-quality internal SiC wafer supply by applying their proprietary thin-wafer technology to GTAT’s crystal. The growth of SiC device adoption is tied largely to the aggressive cost down of the substrate, and this agreement is a significant step towards achieving that goal.”

SiC has mainly been used up to now in photovoltaic inverters, industrial power supplies, and the charging infrastructure for electric vehicles. This is where the advantages of SiC at the system level, compared to classical silicon solutions, have already come into play. Other industrial applications such as uninterruptible power supplies and variable-speed drives are increasingly making use of the new semiconductor technology. In addition, electric vehicles show enormous potential for application options, including the main inverters for the drive train and onboard battery charging units.

About Infineon

Infineon Technologies AG is a world leader in semiconductor solutions that make life easier, safer, and greener. Microelectronics from Infineon is the key to a better future. In the 2019 fiscal year (ending 30 September), the Company reported sales of €8.0 billion with around 41,400 employees worldwide. With the acquisition of US-based Cypress Semiconductor Corporation in April 2020, Infineon has become a global top 10 semiconductor company.

Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the over-the-counter market OTCQX International Premier (ticker symbol: IFNNY). Further information is available at www.infineon.com.

About GTAT Corporation

GTAT Corporation, a wholly owned subsidiary of GT Advanced Technologies Inc., headquartered in Hudson, N.H. USA, produces silicon carbide and sapphire materials for high-growth markets. These materials are fundamental to the accelerated adoption of a new generation of products such as electric vehicles, high-power industrial motors, telecom infrastructure, and aerospace/defense systems. Silicon carbide and sapphire provide demonstrated technical benefits for these applications. GTAT is a valued supply chain partner for leaders in these diverse markets. For more information about the company, please visit www.gtat.com.

CONTACT:

Infineon Technologies AG Contact

Fabian Schiffer

e-mail: fabian.schiffer@infineon.com

phone +49.89.234.25869

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GTAT Corporation Contact

Christopher Van Veen

e-mail: chris.vanveen@gtat.com

phone +1 603.417.2230

Source: GlobeNewswire