MERRIMACK, N.H., Feb. 18, 2014 (GLOBE NEWSWIRE) -- GT Advanced Technologies (Nasdaq:GTAT) today announced that it has acquired exclusive rights from Kyma Technologies, Inc. for its plasma vapor deposition (PVD) process technology and know-how. The PVD of nano-columns (PVDNC™) technology developed by Kyma deposits a high-quality growth initiation layer of aluminum nitride (AlN) on wafers prior to gallium nitride (GaN) deposition. GT plans to commercialize a PVD tool that will complement its hydride vapor phase epitaxy (HVPE) system, which is currently in development. The combined offering will provide LED manufacturers with a higher throughput, lower cost solution to produce gallium nitride (GaN) templates on patterned or planar wafers. GT already has a high volume prototype tool incorporating Kyma's PVDNC technology and expects to offer a production-ready tool in the first half of 2015. "Kyma's innovative "nano-columnar" PVDNC technology adds an important component to our expanding LED product base," said Tom Gutierrez, GT's president and CEO. "Our goal is to offer a range of solutions that improve the quality and lower the cost of LED manufacturing. The combination of GT's PVD AlN tool coupled with the HVPE system we are developing is expected to offer LED manufacturers a lower cost solution to producing epi-ready wafers compared with today's current manufacturing techniques." Kyma's President and CEO, Keith Evans, said, "We are pleased that GT has decided to commercialize our PVDNC technology. Through years of innovation and production of AlN templates, we are convinced of the real and demonstrated benefits of nano-columnar AlN films to the LED industry." Today, GaN deposition on epi wafers is done in slower and more expensive MOCVD tools. By utilizing the combined PVD and HVPE processes to create low cost GaN templates, manufacturers will be able to increase the throughput of their existing LED production lines and lower their capital expenditures because they will need fewer MOCVD tools.
About GT Advanced Technologies Inc.GT Advanced Technologies Inc. is a leading diversified technology company producing advanced materials and innovative crystal growth equipment for the global consumer electronics, power electronics, solar and LED industries. Its technical innovations accelerate the use of advanced materials, enabling a new generation of products across this diversified set of global markets. For additional information about GT Advanced Technologies, please visit www.gtat.com. Forward-Looking Statements Certain of the information in this press release relates to the Company's future expectations, plans, products 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 Company plans to commercialize a PVD tool that will complement its hydride vapor phase epitaxy (HVPE) system; the Company's ability to successfully develop and market the PVD technology it is licensing from Kyma; the combined offering (PVD and HVPE tool) will provide LED manufacturers with a higher throughput, lower cost solution to produce gallium nitride (GaN) templates on patterned or planar wafers; the Company expects to offer a production-ready tool in the first half of 2015; the Company has an expanding LED product base; the Company's goal is to offer a range of solutions that improve the quality and lower the cost of LED manufacturing; the combination of the PVD AlN tool coupled with the HVPE system being developed is expected to offer LED manufacturers a lower cost solution to producing epi-ready wafers compared current techniques; utilizing the combined PVD and HVPE processes to create low cost GaN templates, manufacturers will be able to increase the throughput of their existing LED production lines and lower their capital expenditures because they will need fewer MOCVD tools. 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 statements. Factors that may cause actual events to differ materially from those expressed or implied by our forward-looking statements include: the Company's ability to complete development of and commercialize any new products; the impact of continued decreased demand and/or excess capacity in the markets for the output of the Company's equipment; general economic conditions and the tightening credit markets having an adverse impact on demand for the Company's products; trade disputes involving China (and other countries) limited sales of PV and other equipment products; the possibility that changes in government incentives may reduce demand for solar products, which would, in turn, reduce demand for our equipment; technological changes could render existing or proposed 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 quarter ended September 28, 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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