Akoustis Receives Development Contract for Two New Diplexers from Fortune 100 Internet Company | Panda Anku

Akoustis, Inc.

  • Two new diplexers for Wi-Fi 7 connectivity with XBAW RF filters

  • Pre-production products expected in second half of calendar 2023, production expected in first half of calendar 2024

  • Diplexers for multiple markets and multiple regions worldwide

CHARLOTTE, NC, August 24, 2022 (GLOBE NEWSWIRE) — Akoustis Technologies, Inc. (NASDAQ: AKTS) (“Akoustis” or the “Company”), an integrated device manufacturer (IDM) of patented bulk acoustic wave (BAW) high-band RF filters for mobile and other wireless applications, announced today that it has been awarded a development contract for two new XBAWs by a Fortune 100 internet company® Driven diplexers for multiple applications.

The two new Wi-Fi 7 diplexers are expected to enter pre-production in the second half of calendar year 2023 and into production in early calendar year 2024. Each diplexer ships with two XBAWs® RF filters, an Akoustis-designed switch and an integrated third-party antenna in Akoustis’ proprietary new wafer-level package being developed at its manufacturing facility in Canandaigua, New York. The customer is targeting AR/VR, wearable and other applications both regionally and globally.

Dave Aichele, EVP of Business Development at Akoustis, stated, “We are seeing growing interest in our new diplexer products as we add multi-chip module capabilities to our growing XBAW portfolio® Filters and new switch designs.” Mr. Aichele continued, “We anticipate more design wins in the future as we continue to solve more challenging problems for our customers through greater product integration.”

Akoustis is ramping up commercial production and investing to reach an annual production capacity of approximately 500 million units. Akoustis is actively supplying volume production of its Wi-Fi 6 and Wi-Fi 6E tandem filter solutions and is shipping several 5G Small Cell XBAW® filter solutions and is delivering first drafts of its new mobile 5G filter solutions to several customers. To date, Akoustis has received more than 20 design wins from customers for its patented XBAW® filter solutions.

About Akoustis Technologies, Inc.

acoustis® (http://www.akoustis.com/) is a high-tech BAW RF filter solutions company pioneering materials science and next-generation MEMS wafer fabrication to meet market demands for enhanced RF filters – aiming to compare to the incumbent polycrystalline BAW Technology to achieve higher bandwidth, higher operating frequencies and higher output power is being used today. The company uses its own and patented XBAW® production method to manufacture RF bulk wave filters for mobile and other wireless markets, facilitating signal acquisition and speeding up the band performance between the antenna and the digital back-end. The superior performance is driven by significant advances in polycrystalline, high-purity, and single-crystal piezoelectric materials and resonator filter process technology that enable optimal tradeoffs between critical performance specifications for power, frequency, and bandwidth.

Akoustis plans to serve the fast-growing, multi-billion dollar RF filter market through its integrated device manufacturer (IDM) business model. The Company owns and operates a 120,000 square foot ISO-9001:2015 registered commercial wafer fabrication facility in Canandaigua, NY which includes a Class 100/Class 1000 clean room facility – equipped for 150mm diameter wafers – for design, development , manufacture and packaging of RF filters, MEMS and other semiconductor devices. Akoustis Technologies, Inc. is headquartered in the Piedmont Technology Corridor near Charlotte, North Carolina.

Forward-Looking Statements

This document contains “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the “safe haven” created by these sections. These forward-looking statements include, among other things, statements about our estimates, expectations, beliefs, intentions, plans or strategies for the future (including our potential future operating results, business strategies, competitive position, potential growth opportunities, potential market opportunities and the effects of competition), the expected benefits of the Acquisition of RFMi and the Tai-Saw supply agreement, including estimated synergies and other financial implications, and the assumptions underlying these statements. Forward-looking statements include all statements that are not historical facts and are typically identified by the use of words such as “may”, “could”, “would”, “will”, “should”, “could”, “project”, “expect” , “plan”, “strategy”, “anticipate”, “try”, “develop”, “help”, “believe”, “think”, “estimate”, “predict”, “intend”, “predict”. ”, “seek”, “potential”, “possible”, “continue”, “future” and similar words (including the negative of the foregoing), although some forward-looking statements are expressed differently. Forward-looking statements are neither historical facts nor representations of future results, performance, events or circumstances. Instead, these forward-looking statements are based on management’s current beliefs, expectations and assumptions and are subject to risks and uncertainties. Factors that could cause actual results to differ materially from those currently anticipated include, among others, risks related to our ability to obtain adequate financing and to maintain our status as a going concern; our limited operating history; our inability to generate revenue or achieve profitability; the results of our research and development activities; our inability to achieve market acceptance of our products; the possibility that anticipated benefits from business acquisitions (including the acquisition of RFMi) may not be realized fully or at all or may take longer than anticipated; the possibility that costs or difficulties associated with the integration of the businesses of acquired companies (including RFMis) will be greater than anticipated and the possibility of disruptions to our business during the integration efforts and a drain on management’s time and resources; the impact of any pandemic or epidemic or natural disaster, including the COVID-19 pandemic, on our business, financial condition and the global economy, including its impact on our ability to access capital markets; general economic conditions, including ups and downs in the industry; shortages of supplies needed to manufacture our products or required by our customers to manufacture devices incorporating our products; our limited number of patents; failure to obtain, maintain and enforce our intellectual property rights; Claims of infringement, misappropriation or misuse of a third party’s intellectual property which, regardless of justification, could result in significant costs and loss of our intellectual property rights; our inability to attract and retain qualified personnel; our dependence on third parties to complete certain processes related to the manufacture of our products; product quality and defects; existing or increased competition; our ability to successfully manufacture, market and sell products based on our technologies; our ability to meet required customer specifications and timely qualify our products for commercial manufacture; our ability to successfully scale our New York wafer fabrication facility and related operations while maintaining quality control and assurance and avoiding production delays; the rate and level of market acceptance of any of our products; our ability to generate design wins from current and prospective customers; Enter into contracts with customers and other parties with greater bargaining power and agree to terms that may adversely affect our business; risks associated with doing business abroad, including China; Security breaches, cyber attacks or other disruptions that compromise our protected information and make us liable; our failure to innovate or adapt to new or emerging technologies; our failure to comply with legal requirements; results of any arbitration or litigation that may arise; stock volatility and illiquidity; dilution from future issuance of common stock or securities convertible into common stock or exercisable on common stock; our failure to implement our business plans or strategies; and our ability to maintain effective internal control over financial reporting. These and other risks and uncertainties are described in more detail in the Risk Factors and Management’s Discussion and Analysis of Financial Condition and Results of Operations sections of the Company’s most recent annual report on Form 10-K and in the quarterly reports on Form 10-K subsequently filed. Q. Considering these risks, uncertainties and assumptions, the forward-looking statements about future events and circumstances discussed in this document may not materialize, and actual results may differ materially and adversely from those anticipated or implied by the forward-looking statements. You should not rely on any forward-looking statements as predictions of future events. The forward-looking statements contained in this document speak only as of the date of this release and, except as required by law, we undertake no obligation to update publicly or privately any forward-looking statements, whether written or oral, for any reason after the date of this document to reflect these statements to reflect new information, actual results or changes in our expectations.

CONTACT: Contact: COMPANY: Tom Sepenzis Akoustis Technologies VP of Corporate Development & IR (980) 689-4961 tsepenzis@akoustis.com The Del Mar Consulting Group, Inc. Robert B. Prag, President (858) 794-9500 bprag@delmarconsulting.com

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