Global Logic Manufacturer Selects Nova's Latest Materials Metrology Platform

Rhea-AI Summary

Nova (Nasdaq: NVMI) announced that a leading multinational logic manufacturer has chosen the Nova VERAFLEX IV for its next-generation integrated circuit development. This selection is anticipated to drive global growth in the manufacturer's production capacity and advanced node transitions. Nova VERAFLEX IV, known for its superior materials metrology, is pivotal in measuring complex 3D logic devices with precise sub-angstrom measurements. CEO Eitan Oppenhaim emphasized the platform's increasing traction since its 2021 launch, reinforcing Nova's innovative leadership in materials engineering.

Positive

• Selection of Nova VERAFLEX IV by a leading multinational logic manufacturer indicates strong demand for advanced metrology solutions.
• Anticipation of global growth in production capacity and advanced node transitions could enhance revenue opportunities for Nova.
• VERAFLEX IV's capabilities in precise measurements bolster Nova's competitive position in semiconductor manufacturing.

Negative

• None.

REHOVOT, Israel, Oct. 12, 2021 /PRNewswire/ -- Nova (Nasdaq: NVMI) announced today that a leading multinational logic manufacturer recently selected the Nova VERAFLEX IV for its next-generation IC development. The Company expects that global growth in the manufacturer's production capacity and the transition to advanced nodes will spur worldwide implementation of Nova's materials metrology platform.

Nova VERAFLEX® IV, the industry standard for non-destructive X-ray photoelectron spectroscopy, was selected due to its unique value in materials and thin-film measurements for advanced process control. The unique combination of proprietary hardware and advanced software enables Nova VERAFLEX® IV to measure the most complex 3D logic devices, which combine new architectures with new innovative materials compositions. Designed to address the challenging metrology requirements, precise sub-angstrom thickness and composition measurements can now be resolved inline and closer to the process.

"Since its launch in 2021, the latest generation of the VERAFLEX® platform is gaining increasing traction across customers and segments," stated Mr. Eitan Oppenhaim, Nova's president and CEO. "This major selection by one of the world's leading semiconductor manufacturers serves as further evidence of our innovative leadership and evolving position in the growing segment of materials engineering for advanced 3D devices."

About Nova:

Nova is a leading innovator and key provider of metrology solutions for advanced process control used in semiconductor manufacturing. Nova delivers continuous innovation by providing state-of-the-art high-performance metrology solutions for effective process control throughout the semiconductor fabrication lifecycle. Nova's product portfolio, which combines high-precision hardware and cutting-edge software, provides its customers with deep insight into the development and production of the most advanced semiconductor devices. Nova's unique capability to deliver innovative X-ray and optical solutions enables its customers to improve performance, enhance product yields and accelerate time to market. Nova acts as a partner to semiconductor manufacturers from its offices around the world. Additional information may be found at the Nova Website Link - https://www.novami.com/.

Nova is traded on Nasdaq & TASE, Nasdaq ticker symbol NVMI.

Forward looking statement:

This press release contains forward-looking statements within the meaning of safe harbor provisions of the Private Securities Litigation Reform Act of 1995 relating to future events or our future performance, such as statements regarding, but not limited to, anticipated growth opportunities and projections about our business and its future revenues, expenses and profitability. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied in those forward-looking statements. Factors that may affect our results, performance, circumstances or achievements include, but are not limited to, the following: catastrophic events such as the outbreak of COVID-19; increased information technology security threats and sophisticated computer crime; foreign political and economic risks; changes in U.S. trade policies; inability to protect intellectual property; open source technology exposure; failure to compete effectively or to respond to the rapid technological changes; consolidation in our industry; difficulty to predict the length and strength of any downturn or expansion period of the market we target; factors that adversely affect the pricing and demand for our product lines; dependency on a small number of large customers; dependency on a single manufacturing facility per product line; dependency on a limited number of suppliers; lengthy sales cycle and customer delays in orders; political, economic, and military instability in Israel; risks related to our convertible notes; currency fluctuations; and quarterly fluctuations in our operating results. We cannot guarantee future results, levels of activity, performance or achievements. The matters discussed in this press release also involve risks and uncertainties summarized under the heading "Risk Factors" in Nova's Annual Report on Form 20-F for the year ended December 31, 2020 filed with the Securities and Exchange Commission on March 1, 2021. These factors are updated from time to time through the filing of reports and registration statements with the Securities and Exchange Commission. Nova Ltd. does not assume any obligation to update the forward-looking information contained in this press release.

Company Contact:
Dror David, Chief Financial Officer
Tel: +972-73-229-5760
E-mail: investors@novami.com
Nova Website Link - https://www.novami.com/

Investor Relations Contact:
Miri Segal
MS-IR LLC
Tel: +917-607-8654
E-mail: msegal@ms-ir.com

View original content:https://www.prnewswire.com/news-releases/global-logic-manufacturer-selects-novas-latest-materials-metrology-platform-301397707.html

SOURCE Nova

FAQ

What is the significance of the contract for Nova (NVMI) announced on October 12, 2021?

The contract highlights the selection of Nova's VERAFLEX IV platform by a major logic manufacturer, signaling expected growth in production capacity and advanced technology adoption.

How does the Nova VERAFLEX IV benefit semiconductor manufacturers?

The VERAFLEX IV provides advanced materials metrology, enabling precise measurements crucial for developing complex 3D logic devices in semiconductor fabrication.

When was the VERAFLEX IV first launched by Nova?

The VERAFLEX IV platform was launched in 2021 and has gained traction among various customers since its introduction.

What are the future growth prospects for Nova following this selection?

The selection by a leading manufacturer could position Nova for increased revenue growth due to rising demand for advanced metrology solutions in semiconductor manufacturing.