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PLAINVIEW, N.Y., Oct. 14, 2020 (GLOBE NEWSWIRE) -- Veeco Instruments Inc. (NASDAQ: VECO) today announced that A-Pro Semicon, Co., Ltd, a subsidiary of A-Pro’s semiconductor business based in Korea, has selected Veeco’s Propel™ HVM MOCVD system for the development and production of GaN-based power and 5G RF semiconductor devices. The Propel HVM MOCVD system was selected for its excellent uniformity, operational efficiency and proven performance for high volume production.
“A-Pro Semicon is well positioned to grow in the diverse power semiconductor device market as well as expand and commercialize 5G RF technologies using GaN MOCVD technology,” stated Jong-Hyun Lim, Ph.D., CEO of A-Pro Semicon. “Veeco’s single wafer Propel HVM platform has demonstrated the technical performance, flexibility and versatility we require to go after these markets. Furthermore, the Veeco team has shown outstanding collaboration and support throughout the buying process.”
According to the report published by Allied Market Research, the global GaN power device market was estimated at $100 million in 2019 and is expected to hit $1.2 billion by 2027, a CAGR of 35% from 2020 to 2027. The report states that the decrease in prices of GaN devices, increase in demand for GaN devices for wireless charging, and rise in adoption of GaN devices in electric vehicles have boosted the growth and, in addition, an increase in GaN devices for commercial RF applications augments the growth as well.
“We are excited that A-Pro Semicon has selected our Propel HVM platform as their first MOCVD system to help grow their footprint in the GaN power semiconductor and 5G markets,” commented Scott Kroeger, Veeco’s chief marketing officer. “Our Propel suite of systems has been well-received by leading and ambitious technology companies such as A-Pro Semicon for its proven, high-performance capability and yield to drive critical technology megatrends such as power, 5G RF and photonics applications that are driving the future.”
Veeco’s Propel HVM System offers customers a unique, high volume manufacturing, single wafer reactor configuration for today’s advanced GaN-based applications. Propel’s exceptional uniformity, repeatability and yield performance advantage is the result of Veeco’s decades of production-scale know-how in GaN MOCVD technology. The Propel HVM system offers 200mm and industry-leading 300mm configurations with up to 6 modular cluster chambers for maximum productivity and flexibility that is ideal for foundries and IDMs.
Veeco (NASDAQ: VECO) is an innovative manufacturer of semiconductor process equipment. Our proven ion beam, laser annealing, lithography, MOCVD and single wafer etch & clean technologies play an integral role in the fabrication and packaging of advanced semiconductor devices. With equipment designed to optimize performance, yield and cost of ownership, Veeco holds leading technology positions in the markets we serve. To learn more about Veeco’s systems and service offerings, visit www.veeco.com.
To the extent that this news release discusses expectations or otherwise makes statements about the future, such statements are forward-looking and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include the risks discussed in the Business Description and Management's Discussion and Analysis sections of Veeco's Annual Report on Form 10-K for the year ended December 31, 2019 and in our subsequent quarterly reports on Form 10-Q, current reports on Form 8-K and press releases. Veeco does not undertake any obligation to update any forward-looking statements to reflect future events or circumstances after the date of such statements.
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