Navitas Shenzhen Expands 300% to Support Extraordinary China Revenue Growth and Accelerate High-Power GaN Applications

Rhea-AI Summary

On October 8, 2021, Navitas Semiconductor announced the opening of a new office in Shenzhen, China, enhancing its capabilities by 300% to meet growing customer demand in the region. This state-of-the-art facility aims to support GaN-based power systems and capitalize on opportunities in sectors such as mobile fast chargers, data centers, solar installations, and electric vehicles, which represent a multi-billion-dollar market. With over 130 patents, Navitas is positioned as an industry leader in gallium nitride technologies and aims to reduce CO₂ emissions through its innovations.

Positive

• Opening of a new office in Shenzhen represents a 300% increase in capabilities.
• Targeting high-growth markets: mobile fast chargers, data centers, solar, and electric vehicles.
• Navitas has over 130 patents issued or pending in GaN technologies.

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• None.

DUBLIN, Oct. 8, 2021 /PRNewswire/ -- Navitas Semiconductor, the industry-leader in gallium nitride (GaN) power integrated circuits (ICs), has announced the opening of a new office in Shenzhen, China which offers a 300% increase in capabilities to support extraordinary revenue growth in that region. The state-of-the-art facility offers significant engineering capacity for Navitas to co-develop GaN-based power systems with customers and design partners. This investment supports the rapid growth of GaN mobile fast chargers, as well as the company's recently-announced expansion plans to enable GaN-based data centers, solar installations and electric vehicles, which represent a multi-$B market opportunity for the company.

The new facilities demonstrate our commitment to support expanded customer demands in China.

Gallium nitride (GaN) is a next-generation semiconductor technology that runs up to 20x faster than legacy silicon, and enables up to 3x more power and 3x faster charging in half the size and weight. Navitas' GaNFast™ power ICs integrate GaN power and drive plus protection and control to deliver simple, small, fast and efficient performance. With over 130 patents issued or pending, and significant trade secrets including a proprietary process design kit (PDK), Navitas believes it has a multi-year lead in next-generation GaN power ICs.

Data center upgrades from legacy silicon to GaN are estimated to save almost $2B/year in electricity costs, while GaN adoption in solar microinverters has been estimated by Enphase Energy to enable 10x faster switching and a significant reduction in costs. Per-vehicle GaN content in passenger EVs is estimated as $50 for on-board fast chargers, $15 for DC-DC converters and then up to $200 for later adoption in traction drive.

"Alongside Hangzhou and Shanghai, the new state-of-the-art Shenzhen office is another, significant addition to Navitas China," said Charles (Jingjie) ZHA, VP and general manager of Navitas China. "Chinese demand for next-generation power systems is growing exponentially and with the world's only fully-integrated GaN power ICs, Navitas is in a fantastic position to capitalize on that growth. The new facilities demonstrate our commitment to support expanded customer demands in China."

Navitas' new office is in the iconic Baidu International Building, in the high-density Nanshan District. The design itself is an interpretation of ancient Chinese poetry into the binary codes that power the digital age, while also representing the client's corporate temperament to the world. The building won the Council on Tall Buildings and Urban Habitat 2019 award for sustainable and healthy cities, which reflects Navitas' goal to "Electrifying our World™". Navitas estimates that each GaN power IC shipped saves 4kg of CO₂ emissions vs. legacy silicon chips.

About Navitas

Navitas Semiconductor Limited is the industry leader in GaN power IC's, founded in 2014. Navitas has a strong and growing team of power semiconductor industry experts with a combined 300 years of experience in materials, devices, applications, systems and marketing, plus a proven record of innovation with over 200 patents among its founders. GaN power ICs integrate GaN power with drive, control and protection to enable faster charging, higher power density and greater energy savings for mobile, consumer, enterprise, eMobility and new energy markets. Over 130 Navitas patents are issued or pending, and over 25 million GaNFast power ICs have been shipped with zero reported GaN field failures. On May 7th, 2021, Navitas announced plans to "Go Public at an Enterprise Value of $1.04 Billion via Live Oak II (NYSE: LOKB) SPAC Business Combination.

Navitas Semiconductor, GaNFast and the Navitas logo are trademarks or registered trademarks of Navitas Semiconductor Limited. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.

Contact Information
Stephen Oliver, VP Corporate Marketing & Investor Relations
ir@navitassemi.com

 

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SOURCE Navitas Semiconductor

FAQ

What is the significance of Navitas Semiconductor's new office in Shenzhen for stock LOKB?

The new office represents a 300% increase in capabilities, aimed at supporting extraordinary revenue growth and capturing opportunities in high-demand markets.

How does Navitas Semiconductor plan to utilize its new Shenzhen office?

The Shenzhen office will co-develop GaN-based power systems with customers, focusing on high-power applications in mobile chargers, data centers, and electric vehicles.

What market opportunities does Navitas Semiconductor see in China?

Navitas targets multi-billion-dollar opportunities in GaN mobile fast chargers, data centers, solar installations, and electric vehicles due to increasing demand in China.

How many patents does Navitas Semiconductor hold in GaN technology?

Navitas holds over 130 patents issued or pending, positioning itself as a leader in next-generation GaN power ICs.

What environmental benefits are associated with Navitas Semiconductor's GaN technology?

Navitas estimates that each GaN power IC shipped saves 4kg of CO₂ emissions compared to legacy silicon chips.