MERRIMACK, N.H., July 1, 2013 (GLOBE NEWSWIRE) -- GT Advanced Technologies (Nasdaq:GTAT), today introduced its new SiClone™100 silicon carbide (SiC) production furnace. The SiClone100 uses a sublimation growth technique capable of producing high quality semiconducting bulk SiC crystal that can be finished into wafers up to 100 millimeters in diameter. In its initial offering, the SiClone100 is targeted at customers that have developed their own hot zone, qualified a bulk crystal production recipe and are looking to begin volume production. "GT's new SiClone100 furnace addresses the need in the power electronics industry for more high quality SiC material for use in advanced, high power, high frequency devices," said Tom Gutierrez, GT's president and CEO. "The SiClone100 lays the foundation for our SiC product roadmap that is expected over time to provide customers with access to a complete production environment including recipes, hot zones and consumables capable of producing up to eight-inch SiC wafers." GT has leveraged its deep domain expertise in crystal growth technology to offer customers who are looking to move from "the lab to the fab" a highly reliable and proven platform to begin volume production of SiC bulk crystal. The SiClone100 furnace is equipped with a state-of-the-art control system, which helps to automate the growth process by integrating the furnace electronics into the human-machine interface (HMI) control. The SiClone100 uses a bottom loading design making it easy to load the hot zone. The control system provides increased flexibility for users to customize process recipes and control key production parameters such as temperature, profile, ramp and gas flow, which improves run-to-run control repeatability thus helping to lower manufacturing costs. GT's onsite engineering and support help customers quickly ramp to volume production. The company continues to expect SiC furnace sales to contribute to less than 1% of its calendar year 2013 revenue and expects the SiC revenue ramp in 2014 and beyond to develop at a gradual pace given the lengthy design cycle associated with new power devices.
About GT Advanced Technologies Inc.GT Advanced Technologies Inc. is a diversified technology company with innovative crystal growth equipment and solutions for the global solar, LED and electronics industries. Our products accelerate the adoption of new advanced materials that improve performance and lower the cost of manufacturing. For additional information about GT Advanced Technologies, please visit www.gtat.com. Forward-Looking Statements Certain of the information in this press release relate to the Company's future expectations, plans and prospects for its business and industry that constitute "forward-looking statements" for the purposes of the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to: the ability of the Company to successfully market and sell the SiClone100 furnace to customers; the ability of the Company to successfully develop future generations of the SiC furnace that are capable of producing larger SiC wafers; the likelihood of sales of SiC furnaces contributing to 2013 revenue; and the likelihood that sales of SiC furnaces will grow in 2014 and beyond. These forward-looking statements are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside the Company's control, which could cause actual events to differ materially from those expressed or implied by the forward looking statements. Other factors that may cause actual events to differ materially from those expressed or implied by our forward-looking statements include general economic conditions and the tightening credit market having an adverse impact on demand for the Company's products, technological changes could render existing products or technologies obsolete, the Company may be unable to protect its intellectual property rights, competition from other manufacturers may increase, exchange rate fluctuations and conditions in the credit markets and economy may reduce demand for the Company's products and various other risks as outlined in GT Advanced Technologies Inc.'s filings with the Securities and Exchange Commission, including the statements under the heading "Risk Factors" in the company's quarterly report on Form 10-Q for the three month period ended March 30, 2013. Statements in this press release should be evaluated in light of these important factors. The statements in this press release represent GT Advanced Technologies Inc.'s expectations and beliefs as of the date of this press release. GT Advanced Technologies Inc. anticipates that subsequent events and developments may cause these expectations and beliefs to change. GT Advanced Technologies Inc. is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.
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