Nova Opens New Large-Scale Clean Room in Israel

Rhea-AI Summary

Nova (Nasdaq: NVMI) has inaugurated a new production facility in Israel, enhancing its production capacity. The advanced clean room will support high-volume manufacturing and aligns with the company's long-term growth strategy to double production capacity in five years. Nova plans to improve production output across its three metrology divisions, utilizing Industry 4.0 technologies. The facility is constructed with high sustainability and environmental standards in mind, supporting Nova's commitment to ESG principles. This development aims to bolster product yields and accelerate the launch of new products, positioning Nova favorably within the semiconductor manufacturing industry.

Positive

• New production facility in Israel enhances production capacity.
• Aims to double production capacity in five years.
• Supports high-volume manufacturing of advanced products.
• Constructed with high sustainability and environmental standards.
• Utilizes Industry 4.0 technologies to improve production procedures.

Negative

• None.

REHOVOT, Israel, March 23, 2023 /PRNewswire/ -- Nova (Nasdaq: NVMI) announced today the opening of its new production facility in Israel. The state-of-the-art clean room aims at expanding Nova's production capacity and complements the existing facilities, allowing the Company to improve production procedures and yields.

The new, highly advanced clean room facility supports the Company's long-term growth strategy by establishing the required manufacturing environment to produce Nova's most advanced platforms. The facility utilizes state-of-the-art production methods, including industry 4.0 elements and high levels of automation. In keeping with Nova's ESG commitment, it is constructed to support high sustainability and environmental standards.

"As part of the NOVA 1B strategic plan, we aim at doubling our production capacity in the next five years. In order to meet that, our plan is to expand production output at all main sites for our three metrology divisions," explained Eitan Oppenhaim, Nova's President and CEO. "The new clean room in Israel can support higher yield for our established products but also accommodate high-volume manufacturing of our new products. Built with ESG principles in mind, the new facility meets high industry standards for a safe and smart work environment to enable cutting-edge production methods."

About Nova
Nova is a leading innovator and key provider of material, optical and chemical metrology solutions for advanced process control 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 developing and producing the most advanced semiconductor devices. Nova's unique capability to deliver innovative 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 worldwide. Additional information may be found on Nova's website link - https://www.novami.com/.

Nova is traded on the Nasdaq and TASE, Nasdaq ticker symbol NVMI

Forward-Looking Statements
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 differ materially 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 our intellectual property; open source technology exposure; failure to compete effectively or to respond to rapid technological changes; consolidation in our industry; difficulty in predicting 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; difficulty in integrating current or future acquisitions; 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, 2022, filed with the Securities and Exchange Commission on February 23, 2023. 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

Logo: https://mma.prnewswire.com/media/1446151/Nova_Logo.jpg

View original content:https://www.prnewswire.com/news-releases/nova-opens-new-large-scale-clean-room-in-israel-301779658.html

SOURCE Nova

FAQ

What is the significance of Nova's new facility in Israel for NVMI stock?

The new facility is expected to enhance production capacity, potentially boosting revenue and improving NVMI stock performance.

How does the new clean room affect Nova's production capacity?

The clean room aims to double production capacity over the next five years, supporting higher yields and the manufacturing of new products.

What technological advancements does the new Nova facility incorporate?

The facility incorporates Industry 4.0 technologies and high levels of automation to improve production processes.

When was the new facility by Nova officially opened?

The new facility was opened on March 23, 2023.