Akoustis Secures a wBMS Design Win with Tier-1 Automotive Product Supplier
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Insights
The announcement by Akoustis Technologies about their design win for a wireless Battery Management System (wBMS) chipset in the electric vehicle (EV) sector is a significant development. The EV market is rapidly expanding and the integration of advanced communication technologies such as BAW filters into EVs is a clear indication of the industry's direction towards more sophisticated electronic systems. This move aligns with the broader trend of increasing electronic content per vehicle, which is driven by the transition to EVs and the growing demand for connected car features.
The choice of Akoustis' 2.4 GHz BAW filter by a Tier-1 automotive supplier reflects the company's competitive edge in providing high-performance solutions for the Industrial, Scientific and Medical (ISM) radio bands, which are critical for reliable short-range communication in automotive applications. Given the projected production ramp in the first quarter of 2025, this development could have a positive impact on Akoustis' financial performance in the medium to long term, assuming successful implementation and market acceptance.
The securing of a Tier-1 design win by Akoustis Technologies represents a potential catalyst for future revenue growth, which could be reflected in the company's stock valuation. Investors will likely monitor the progression from design win to production ramp-up closely, as it signifies the company's ability to convert technological achievements into tangible financial gains. The fact that production is expected to commence in 2025 suggests a forward-looking investment, with potential returns materializing beyond the short-term horizon.
It is also noteworthy that Akoustis is expanding its sales pipeline across multiple sectors, including Wi-Fi, 5G Infrastructure, Automotive and Defense. Diversification across different market segments could mitigate sector-specific risks and provide a more stable revenue stream. However, investors should consider the competitive landscape and the company's capacity to fulfill the increasing demand, as these factors will be crucial for the actual realization of the projected growth.
The adoption of Akoustis' BAW filter technology in a wBMS chipset underscores the growing importance of wireless communication within the automotive sector, particularly in EVs. BAW filters are essential for ensuring clear signal transmission, which is critical for the performance and safety of battery management systems. The wBMS is a key component that monitors and manages the battery's state, health and charge levels, which are vital for EV reliability and range.
The integration of such advanced RF filter technology into EVs may also pave the way for further innovations in vehicle-to-everything (V2X) communications, autonomous driving capabilities and enhanced vehicle diagnostics. As the automotive industry continues to evolve towards greater electrification and connectivity, suppliers like Akoustis that can provide high-quality, automotive-grade components are well-positioned to benefit from these trends.
- First BAW Design Win at a Tier-1 Automotive Customer in the Fast-Growing EV Market Segment
- Based on IC Reference Design by a Leading Semiconductor Supplier
- Production Expected to Ramp in the March Quarter of Calendar Year 2025
Charlotte, N.C., Jan. 29, 2024 (GLOBE NEWSWIRE) -- 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 that it has secured a Tier-1 design win for a wireless Battery Management System (wBMS) chipset in Electric Vehicles (EVs) from a leading automotive product supplier directly supplying the OEM.
The design integrates Akoustis’ 2.4 GHz Bulk Acoustic Wave (BAW) filter, an automotive grade, high-performance solution tailored for the Industrial, Scientific, and Medical (ISM) radio bands. The typical utilization of ISM band solutions involves addressing communication needs characterized by low power requirements and short-range capabilities. In the context of this design, the Akoustis filter facilitates communication from the control unit to each battery module forming the battery bank. Akoustis has received small volume orders from the Tier-1 customer to support customer development leading to production ramp in the first quarter of the calendar year 2025.
Jeff Shealy, founder and CEO of Akoustis, stated, “As a part of our strategic expansion in the Automotive market in calendar year 2023, Akoustis has achieved a significant milestone through our involvement in the development of our first wBMS design win with a Tier-1 automotive product supplier.” Mr. Shealy continued, “Partnering with this supplier emphasizes the high standards and quality our filters provide to the evolving landscape of automotive technology”.
Akoustis maintains its momentum with robust demand and an expanding sales pipeline for its XBAW® filter products, in addition to its new XBAW®/SAW resonator and oscillator products, and semiconductor back-end services. The Company continues to secure new design wins in its target markets including Wi-Fi, 5G Infrastructure, Automotive and Defense, many of which are slated to ramp into production in the coming months.
About Akoustis Technologies, Inc.
Akoustis® (http://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 legacy polycrystalline BAW technology. The Company utilizes its proprietary and patented 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 poly-crystal, single-crystal, and other high purity piezoelectric materials and the resonator-filter process technology which enables optimal trade-offs between critical power, frequency and bandwidth performance specifications.
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 125,000 sq. ft. ISO-9001:2015 registered 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.
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Factors that could cause actual results to differ materially from those currently anticipated include, without limitation, risks relating to our inability to obtain adequate financing and sustain our status as a going concern; our limited operating history; our inability to generate revenues or achieve profitability; the results of our research and development activities; our inability to achieve acceptance of our products in the market; the possibility that the anticipated benefits from business acquisitions (including the acquisition of Grinding and Dicing Services, Inc.) will not be realized in full or at all or may take longer to realize than expected; the possibility that costs or difficulties related to the integration of acquired businesses’ operations will be greater than expected and the possibility of disruptions to our business during integration efforts and strain on management time and resources; the impact of a pandemic or epidemic or a natural disaster, including the COVID-19 pandemic, the Russian-Ukrainian conflict and other sources of volatility on our operations, financial condition and the worldwide economy, including its impact on our ability to access the capital markets; increases in prices for raw materials, labor, and fuel caused by rising inflation; general economic conditions, including upturns and downturns in the industry; shortages in supplies needed to manufacture our products, or needed by our customers to manufacture devices incorporating our products; our limited number of patents; failure to obtain, maintain, and enforce our intellectual property rights; claims of infringement, misappropriation or misuse of third party intellectual property, including the lawsuit filed by Qorvo, Inc. in October 2021, that, regardless of merit, could result in significant expense and negatively impact our business results; our inability to attract and retain qualified personnel; our reliance on third parties to complete certain processes in connection with the manufacture of our products; product quality and defects; existing or increased competition; our ability to successfully manufacture, market and sell products based on our technologies; our ability to meet the required specifications of customers and achieve qualification of our products for commercial manufacturing in a timely manner; our inability to successfully scale our New York wafer fabrication facility and related operations while maintaining quality control and assurance and avoiding delays in output; the rate and degree of market acceptance of any of our products; our ability to achieve design wins from current and future customers; contracting with customers and other parties with greater bargaining power and agreeing to terms and conditions that may adversely affect our business; risks related to doing business in foreign countries, including China; any security breaches, cyber-attacks or other disruptions compromising our proprietary information and exposing us to liability; our failure to innovate or adapt to new or emerging technologies, including in relation to our competitors; our failure to comply with regulatory requirements; results of any arbitration or litigation that may arise; stock volatility and illiquidity; dilution caused by any future issuance of common stock or securities that are convertible into or exercisable for common stock; our failure to implement our business plans or strategies; and our ability to maintain effective internal control over financial reporting. 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.
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