Transphorm Ships Over One Million GaN Devices for Fast Chargers and Power Adapters in December 2021

Rhea-AI Summary

Transphorm, Inc. (OTC-PINK:TGAN) achieved a milestone by shipping over one million SuperGaN® Gen IV FETs in December 2021, reflecting a more than 3x increase in the second half of CY2021 compared to the first half. This growth underscores Transphorm's market expansion and capacity to manufacture high-performance GaN devices. The SuperGaN products, known for their superior efficiency and reliability, cater to power adapter and fast charger applications. Additionally, recent capital raises exceeding $45 million position the company for further growth in 2022.

Positive

• Shipped over one million SuperGaN® Gen IV FETs in December 2021.
• More than 3x increase in units shipped in the second half of CY2021 compared to the first half.
• Recent capital raises of over $45 million support future expansion.
• SuperGaN products demonstrate superior efficiency and reliability.

Negative

• None.

Demonstrates Company’s High Capacity Capability and Continued Leadership in High Power, Multi-Kilowatt Products

GOLETA, Calif.--(BUSINESS WIRE)-- Transphorm, Inc. (OTCQX: TGAN)—a pioneer in and global supplier of high reliability, high performance gallium nitride (GaN) power conversion products—announced today it shipped more than one million SuperGaN® Gen IV FETs in December 2021. The milestone confirms the company’s previously stated ability to meet high volume capacity of qualified packaged devices and its growing market share. It also marks a more than 3x increase in units shipped in the 2^nd half of CY2021 over 1^st half of CY2021. Notably, highlighting Transphorm’s continued ecosystem expansion, the shipped FETs are for use in 45 W to 300 W power adapter and fast charger applications manufactured by new and existing customers in APAC.

Transphorm’s SuperGaN product family for compact power conversion applications currently includes three 650 V devices: 480 mΩ FETs, 300 mΩ FETs, and 150 mΩ FETs. These devices are offered in standard PQFN 5x6 and 8x8 packages and meet JEDEC qualification standards at 150°C.

Key advantages of the SuperGaN devices when compared to alternative GaN semiconductors (i.e., e-mode and IC GaN) include:

• Superior performance in a smaller die size: Data shows that the SuperGaN platform delivers higher efficiency versus lower on-resistance devices.
  
• Ease of designability and drivability: The SuperGaN platform’s patented architecture includes an integrated silicon FET with a universal interface and does not require excessive amounts of peripheral circuitry. This interface allows for the use of popular, off-the-shelf controllers with integrated drivers; a requirement for high efficiency power adapter topologies such as the QRF (Quasi Resonant Flyback) and ACF (Active Clamp Flyback).
  
• Best-in-class Quality + Reliability: Based on over 30 billion hours of operation, Transphorm devices in the field yield a FIT (failure in time) rate of < 0.3; meaning less than 0.3 failures statistically over one billion operating field hours.

“We’re thrilled to have partnered with our suppliers and customers to hit our targeted volume manufacturing goal of one million units per month. It demonstrates our rising market share in the rapidly growing fast charger and power adapter segment as well as our ability to reproduce high performance, high reliability GaN devices at scale,” said Primit Parikh, President and Co-Founder, Transphorm. “Transphorm’s traction in both lower power and multi-kilowatt high power applications underscores the leadership of our technology. This, combined with recent capital raises of more than $45 million last quarter, supports strong, positive momentum for our continued expansion and growth in 2022.”

Transphorm’s complete product portfolio currently includes 650 V and 900 V devices in various packages. The portfolio’s technological advantages are largely driven by the company’s vertical integration. Uncommon in the GaN semiconductor industry, this operation model allows Transphorm to control its devices’ design, epitaxial wafer (starting material), and manufacturing process. As a result, Transphorm today supports the largest range of power conversion requirements (45 W to 10+ kW) across the widest range of power applications (power adapters, datacenter and gaming PSUs, crypto mining rigs, automotive converters, inverters for renewables, and others).

About Transphorm

Transphorm, Inc., a global leader in the GaN revolution, designs and manufactures high performance and high reliability GaN semiconductors for high voltage power conversion applications. Having one of the largest Power GaN IP portfolios of more than 1,000 owned or licensed patents, Transphorm produces the industry’s first JEDEC and AEC-Q101 qualified high voltage GaN semiconductor devices. The Company’s vertically integrated device business model allows for innovation at every development stage: design, fabrication, device, and application support. Transphorm’s innovations are moving power electronics beyond the limitations of silicon to achieve over 99% efficiency, 40% more power density and 20% lower system cost. Transphorm is headquartered in Goleta, California and has manufacturing operations in Goleta and Aizu, Japan. For more information, please visit www.transphormusa.com. Follow us on Twitter @transphormusa and WeChat @ Transphorm_GaN.

Forward-Looking Statements

This press release contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning the Company’s market position, expectations regarding future anticipated growth and plans to uplist on Nasdaq. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “plan,” “believe,” “intend,” “look forward,” and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: risks related to Transphorm’s operations, such as additional financing requirements and access to capital; competition; the ability of Transphorm to protect its intellectual property rights; and other risks set forth in the Company’s filings with the Securities and Exchange Commission. Except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220112005440/en/

Press Contact:

Heather Ailara

211 Communications

+1-973-567-6040

heather@211comms.com

Investor Contacts:

Shelton Group

Brett Perry | Leanne Sievers

1-214-272-0070 | 1-949-224-3874

sheltonir@sheltongroup.com

Cameron McAulay

Chief Financial Officer

1-805-456-1300, ext. 140

cmcaulay@transphormusa.com

Source: Transphorm, Inc.

FAQ

What milestone did Transphorm achieve in December 2021?

Transphorm shipped over one million SuperGaN® Gen IV FETs.

How much did Transphorm's shipments increase in the second half of CY2021?

Shipments increased by more than 3x in the second half of CY2021 compared to the first half.

What is the stock symbol for Transphorm?

The stock symbol for Transphorm is OTC-PINK:TGAN.

What were the recent capital raises for Transphorm?

Transphorm raised over $45 million in capital last quarter.

What applications do SuperGaN products target?

SuperGaN products are used in power adapters and fast charger applications.