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Navitas Semiconductor Corporation (Nasdaq: NVTS) is a leading innovator in the power semiconductor industry, headquartered in El Segundo, California. The company is renowned for its groundbreaking introduction of the world’s first and fastest AllGaN™ power ICs, which revolutionize high-frequency, high-efficiency, and high-density power electronics. These GaNFast™ power ICs integrate gallium nitride (GaN) power with drive, control, and protection mechanisms, enabling faster charging, higher power density, and significant energy savings across various markets including mobile, consumer, enterprise, eMobility, and new energy.
Formed in 2014, Navitas leverages over 150 years of combined expertise in power semiconductors and holds more than 250 patents. The company’s patented GaN technology spans core device, circuit, packaging, and system technologies, further reinforced by extensive trade secrets, access to over $100 million of R&D equipment, and ongoing collaboration with the Hughes Research Lab (HRL).
Navitas operates globally across key markets such as China, Europe, the United States, and other parts of Asia. A significant portion of its revenue is generated from China. The company focuses on creating ultra-efficient GaN semiconductors that replace legacy silicon power chips, delivering superior high-frequency and high-efficiency characteristics. This shift is pivotal in the fast adoption of electric vehicles (EVs), the transition to renewable energy sources, and advancements in data center technologies.
Recent achievements include the establishment of a joint lab with SHINRY in Shenzhen. This collaboration promises to accelerate the development of advanced battery-electric and fuel-cell vehicle power platforms, leveraging Navitas' leading-edge GaN technology. Furthermore, Navitas has introduced a 3.2kW data center power platform and plans to develop even more powerful systems to meet the escalating demands of AI data centers.
Financially, Navitas concluded 2023 with record revenue growth, doubling its annual revenue. The company’s robust customer pipeline includes significant new wins in AI data centers, home appliances, solar inverters, and satellite internet projects, positioning it well for continued growth in 2024 and beyond. For the first quarter of 2024, the company projects net revenues of $23 million and maintains a focus on expanding its footprint in various high-growth markets.
Navitas prides itself on sustainability, being the first semiconductor company to be CarbonNeutral®-certified. The company’s product range includes complementary GeneSiC™ power devices optimized for high-power, high-voltage, and high-reliability applications. With a dedication to innovation and a strong commitment to environmental responsibility, Navitas continues to push the boundaries of power semiconductor technology.
Navitas Semiconductor (Nasdaq: NVTS) has upgraded its GaNFast power ICs with GaNSense technology to enhance efficiency and power density for fast-charger markets. The voltage rating has increased from 650V to 700V, enabling better designs for unreliable power grids. GaN technology delivers up to 20x faster performance and 40% energy savings compared to silicon. With over 30 million GaNFast power ICs shipped and zero reported field failures, Navitas aims to lead in the mobile fast-charger sector, promoting innovation for customers worldwide.
Navitas Semiconductor (Nasdaq: NVTS) has announced that its GaNFast power ICs have been chosen by Dell for fast charging their Latitude 9000-series laptops. GaN technology provides significant advantages, including up to 20x faster operation than silicon, 3x more power, and 40% energy savings. The new 60W GaNFast charger is 50% smaller and 25% lighter than previous models, reducing CO2 emissions by 30%. Navitas holds over 130 patents and has shipped more than 30 million GaNFast power ICs with no reported failures.
Navitas Semiconductor (Nasdaq: NVTS) has announced the availability of high-power GaN power IC samples for data centers, solar, and electric vehicle (EV) applications. This marks a significant expansion from their initial market focus on mobile devices. The GaN technology promises up to 20x faster performance, 40% energy savings, and enhanced charging capabilities. With over 30 million units shipped and no field failures reported, the technology aims to replace silicon in high-power applications, potentially reducing CO2 emissions significantly by 2050.
Navitas Semiconductor (Nasdaq: NVTS) announced plans at CES 2022 to expand its leadership in gallium nitride (GaN) power ICs beyond mobile applications into sectors like solar, data centers, and electric vehicles (EVs). GaN technology offers significant advantages, including faster operation and reduced size. With GaNFast chargers used in numerous flagship devices, the company anticipates faster EV adoption, potentially saving up to 20% in CO2 emissions by 2050. Attendees at CES can engage with GaN technology and enter for a chance to win a Tesla Model 3.
Navitas Semiconductor (Nasdaq: NVTS) announced the launch of a new Design Center in Hangzhou, China, aimed at enhancing GaN power integrated circuits for data centers. This facility will facilitate the transition from silicon to GaN, promising energy savings of up to 40% and $1.9B/year in reduced electricity costs. The center's team will support power supply design from concept to mass production, emphasizing high efficiency and cost-reduction, in compliance with stringent efficiency standards effective from January 1, 2023.
Navitas Semiconductor (Nasdaq: NVTS) has successfully completed a prepaid forward-purchase transaction, releasing $30 million in unrestricted cash and 3,000,000 shares from its balance sheet. This agreement, initiated on October 6, 2021, involved Atalaya Capital Management, which sold these shares in open-market transactions, allowing the cash to be utilized without restrictions. This completion enhances Navitas' financial flexibility, supporting its leadership in the gallium nitride (GaN) power IC market.
Navitas Semiconductor has revealed that its gallium nitride (GaN) semiconductors enable ultra-fast charging for Xiaomi's Note 11 Pro+ smartphone. Powered by GaNFast™ ICs with GaNSense™ technology, the new charger can fully charge a 4,500 mAhr battery in just 17 minutes at a capacity of 120W. Notably, GaN devices operate 20 times faster than traditional silicon, offering significant energy efficiency. This collaboration is projected to double Navitas' revenue opportunity as the ultra-fast charger market grows. The technology was showcased at the recent China Power Supply Society's conference.
Navitas Semiconductor (Nasdaq: NVTS) has been named a CES® 2022 Innovation Awards Honoree for its GaNFast™ ICs with GaNSense™ technology. This announcement precedes CES 2022, scheduled for January 5-8 in Las Vegas, where Navitas will showcase its high-performance mobile chargers from leading brands. The CES Innovation Awards program recognized over 1,800 submissions based on innovation, engineering, and design. GaNFast ICs provide faster charging and power efficiency, addressing diverse applications including consumer electronics and electric vehicles.
Navitas Semiconductor and Anker Innovations have announced a strategic partnership to develop next-generation mobile fast chargers utilizing GaN power integrated circuits (ICs). This collaboration aims to enhance product development efficiency by colocating engineering teams from both companies. GaN technology is poised to revolutionize the mobile charging market, estimated at $2B. Initial products include 30W and 65W chargers designed for high-performance devices like gaming laptops, marking a significant step forward in the adoption of GaN technology.
Navitas Semiconductor (Nasdaq: NVTS) announced CEO Gene Sheridan's participation in the J.P. Morgan Global Technology, Media and Telecom Conference in Asia, focusing on next-gen GaN power integrated circuits (ICs). Scheduled for November 16, the panel titled 'Beyond Silicon' will discuss the shift from silicon to gallium nitride technology, vital for improving efficiency in various applications, including electric vehicles. Navitas, a leader in GaN technology, trades with an enterprise value exceeding $1B and has raised over $320M since its Nasdaq debut on October 20, 2021.
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