U.S. Senate Majority Leader Charles E. Schumer Toured Akoustis Technologies’ Semiconductor Fab in Upstate New York
Akoustis Technologies, Inc. (NASDAQ: AKTS) announced the successful tour of its semiconductor fab by Senate Majority Leader Charles Schumer, highlighting the impact of the CHIPS and Science Act of 2022. This bipartisan legislation allocates over $52 billion to boost U.S. semiconductor manufacturing and science innovation. Akoustis anticipates significant opportunities for growth, particularly in the Rochester area, where the company aims to produce billions of RF filter chips annually for 5G networks and other wireless applications. Akoustis has invested over $65 million in its NY facility, aiming for a production capacity of approximately 500 million units.
- Senate Majority Leader Schumer's support for Akoustis aligns with the CHIPS Act funding opportunities.
- Over $52 billion allocated in the CHIPS Act for semiconductor manufacturing could significantly enhance Akoustis's growth potential.
- Akoustis has invested over $65 million in its New York facility, enhancing production capacity.
- Plans to ramp annual production capacity to approximately 500 million units.
- None.
- Sen. Schumer Expects Significant Semiconductor Manufacturing Expansion in Upstate New York with the Recently Passed CHIPS and Science Act of 2022
Canandaigua, N.Y., Sept. 06, 2022 (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 that U.S. Senate Majority Leader Charles E. Schumer recently toured Akoustis’ semiconductor fab in Upstate New York with Akoustis founder and CEO, Jeff Shealy, Co-Chairman of the Board, Jerry Neal, and Director, Suzanne Rudy.
The recently passed bipartisan Chips and Science Act of 2022 (“CHIPS Act”) legislation was introduced by New York Senator Schumer to boost U.S. competitiveness with foreign competitors, including China, by allocating billions of dollars toward domestic semiconductor manufacturing and science research. Senator Schumer expects the CHIPS Act “will help build more resilient domestic supply chains to help lower costs for families, address inflation, and strengthen national security by manufacturing more microchips in America.”
Akoustis senior management has worked closely with the local, regional, and state government of New York, along with Senator Schumer’s office to support the passage of the Act, which will present a significant opportunity for the revitalization of Upstate New York’s semiconductor presence, and in particular, the greater Rochester area, where Akoustis’ manufacturing facility is located.
The CHIPS Act includes more than
Jeff Shealy, founder and CEO of Akoustis, stated, “We were honored to have Senate Majority Leader Charles Schumer return to our New York semiconductor fab for an expanded tour as he championed the introduction and passage of the CHIPS Act. We believe Akoustis fits perfectly as part of Senator Schumer’s ‘blueprint to make New York a Global Innovation & Semiconductor Hub.’”
Mr. Shealy added, “As Akoustis solely manufactures its semiconductor products in the United States, we should be an ideal candidate for funding from the CHIPS Act. Such funding could position Akoustis to manufacture and deliver billions of XBAW® RF filter chips annually and position us to service both tier 1 and tier 2 mobile companies for 5G smartphones, as well as other end markets including 5G networks, high-frequency Wi-Fi devices, and other wireless markets.”
Akoustis began manufacturing its silicon chips in Canandaigua, NY five years ago, through a partnership with local, regional, state, and federal representatives from the State of New York. All of its RF filter wafers are made in Upstate New York - in the United States of America. Since acquiring this facility five years ago, Akoustis has invested over
Akoustis is currently ramping commercial production and is investing to achieve annual production capacity of approximately 500 million units. Akoustis is actively delivering volume production of its Wi-Fi 6 and Wi-Fi 6E tandem filter solutions, shipping multiple 5G small cell XBAW® filter solutions and delivering initial designs of its new 5G mobile filter solutions to multiple customers. To date, Akoustis has received more than 20 customer design wins for its patented XBAW® filter solutions.
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 incumbent polycrystalline BAW technology deployed today. 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, high-purity and single-crystal 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 120,000 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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