TEMPE, Ariz., July 2, 2019 /PRNewswire/ -- Amtech Systems, Inc.
(NASDAQ: ASYS), a manufacturer of capital equipment, including
thermal processing and wafer handling automation, and related
consumables used in fabricating semiconductor devices,
light-emitting diodes (LEDs), silicon carbide (SiC) and silicon
power chips and solar cells, Chief Operating Officer, Michael Whang, recently participated in a panel
discussion at Cowen's Sustainable Energy and Industrial Technology
Forum. The discussion underscored the significant opportunity
that SiC (silicon carbide) represents for the semiconductor
marketplace. Amtech Systems' subsidiary, PR Hoffman, has
market-leading capabilities in SiC, and management looks to expand
through both organic growth and the acquisition of relevant
businesses or products serving the market.
In line with the points raised in the panel discussion,
Michael Whang comments today, "We
are strategically focused on our semi and emerging SiC power
business opportunities and are highly confident it represents a
significant growth opportunity for the industry and Amtech. We are
well positioned in that our SiC capabilities already include
market-leading technologies and state-of-the-art production
equipment, and we continue to plan for timely product innovations
to stay ahead of our customers' needs. We are encouraged by
conversations with our customers and their planning for the
anticipated growth in demand. We strongly believe that SiC
represents a significant value-driving opportunity for our Company
in the near and longer term."
Key points raised in the May panel discussion and summarized by
the hosting-firm's analyst follow.
Impact to Our Coverage
Commentary around price trends, tightness in the market and
anticipated demand/usage of SiC in new platforms for EVs supports
Cree's recent $1 billion capex
initiative and can be seen as a net positive for the Company.
Amtech should be well positioned as SiC wafer starts increase.
Key Takeaways
The panel discussed the high barriers to entry for SiC boule
production given the unique characteristics of each company's
crystal growing process. The learning curve is high, and the
process is also labor intensive, taking around a week to produce a
single SiC boule. Slight variations in the process can have huge
impacts on yield quality. Prices were noted above $1,000 per 6-inch wafer, with spot prices nearly
double that.
Qualification of a 150mm wafer in simple applications can take
around 6 months, and more complicated specifications could take up
to a year. 8-inch wafer commercialization is likely to still be
several years away, with shipments of 6-inch just beginning
increase in volume. There is currently a wait of between 12 to 18
months for 6-inch SiC material, and both Pallidus and Amtech were
encouraged by Cree's $1 billion
investment in SiC production. We view this as a signal to the auto
supply chain that meaningful capacity is being added. Not only is
this a validation of the technology, but increasing supply and
sourcing should help to broaden automotive adoption where OEMs
prize the ability to multi-source inputs. If SiC is fully adopted
by the automotive industry for multiple applications, like on-board
charger (OBC), DC/DC convertor, inverter, and off-board DC fast
charging, we could see a single 6-inch wafer supplying MOSFETs that
would be used on about 3 EVs. This could represent a huge source of
demand longer term, given a company like VW, which produces about 7
million vehicles annually, is planning to offer 70 new electric
models by 2028. Ultimately, this could represent 22 million
vehicles over a 10-year period, or more than 7 million SiC wafers,
based on our illustrative example of full adoption throughout the
vehicle as well as fast charging infrastructure. We see more
widespread adoption in the early 2020s, with Tesla's use now in
inverters and more pervasive use across multiple OEMs for OBC and
fast charging.
About Amtech Systems, Inc.
Amtech Systems, Inc. is a global supplier of advanced thermal
processing and polishing equipment and related consumables to the
semiconductor / electronics, power IC businesses, and advanced
lighting manufacturing markets. Amtech's equipment includes
diffusion, solder reflow systems, wafer handling automation, and
polishing equipment and related consumables for surface preparation
of various materials, including silicon carbide ("SiC"), sapphire
and silicon. The Company's wafer handling, thermal processing,
polishing and consumable products currently address the diffusion,
oxidation, and deposition steps used in the fabrication of
semiconductors, printed circuit boards, semiconductor packaging,
MEMS, and advanced lighting, including the polishing of newly
sliced sapphire and silicon wafers. Amtech's products are
recognized under the leading brand names BTU International, Bruce
Technologies™, PR Hoffman™, and R2D
Automation™.
Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this press release is
forward-looking in nature. All statements in this press release, or
made by management of Amtech Systems, Inc. and its subsidiaries
("Amtech"), other than statements of historical fact, are hereby
identified as "forward-looking statements" (as such term is defined
in Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended).
The forward-looking statements in this press release relate only to
events or information as of the date on which the statements are
made in this press release. Examples of forward-looking
statements include statements regarding Amtech's future financial
results, operating results, business strategies, projected costs,
products under development, competitive positions, plans and
objectives of Amtech and its management for future operations,
efforts to improve operational efficiencies and effectiveness and
greater China sourcing. In
some cases, forward-looking statements can be identified by
terminology such as "may," "will," "should," "would," "expects,"
"plans," "anticipates," "intends," "believes," "estimates,"
"predicts," "potential," "continue," or the negative of these terms
or other comparable terminology used in this press release or by
our management, which are intended to identify such forward-looking
statements. These statements are not guarantees of future
performance and involve risks, uncertainties and assumptions that
are difficult to predict. The Form 10-K that Amtech filed with the
Securities and Exchange Commission (the "SEC") for the year-ended
September 30, 2018, listed various important factors that
could affect the company's future operating results and financial
condition and could cause actual results to differ materially from
historical results and expectations based on forward-looking
statements made in this document or elsewhere by Amtech or on its
behalf. These factors can be found under the heading "Risk
Factors" in the Form 10-K and investors should refer to them.
Because it is not possible to predict or identify all such factors,
any such list cannot be considered a complete set of all potential
risks or uncertainties. Except as required by law, we
undertake no obligation to publicly update forward-looking
statements, whether as a result of new information, future events,
or otherwise.
Contacts:
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|
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Amtech Systems,
Inc.
Lisa D.
Gibbs
Chief Financial
Officer
(480)
967-5146
irelations@amtechsystems.com
|
Christensen
Investor
Relations
Patty
Bruner
(480)
201-6075
pbruner@christensenir.com
|
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SOURCE Amtech Systems, Inc.