-
The electrification of everything is driving the widespread adoption of Silicon Carbide (SiC) technology in medium-to-high-voltage applications like transportation, electric grids and heavy-duty vehicles. To help developers implement SiC solutions and fast-track the development process, Microchip Technology introduced the 3.3 kV XIFM plug-and-play mSiC™ gate driver with patented Augmented Switching™ technology, which is designed to work out-of-the-box with preconfigured module settings to significantly reduce design and evaluation time.
To speed time to market, the complex development work of designing, testing and qualifying a gate driver circuit design is already completed with this plug-and-play solution. The XIFM digital gate driver is a compact solution that features digital control, an integrated power supply and a robust fiber-optic interface that improves noise immunity. This gate driver has preconfigured “turn-on/off” gate drive profiles that are tailored to optimize module performance.
It incorporates 10.2 kV primary-to-secondary reinforced isolation with built-in monitoring and protection functions including temperature and DC link monitoring, Undervoltage Lockout (UVLO), Overvoltage Lockout (OVLO), short-circuit/overcurrent protection (DESAT) and Negative Temperature Coefficient (NTC). This gate driver also complies with EN 50155, a key specification for railway applications.
“As the silicon carbide market continues to grow and push the boundaries of higher voltage, Microchip makes it easier for power system developers to adopt wide-bandgap technology with turnkey solutions like our 3.3 kV plug-and-play mSiC gate driver,” said Clayton Pillion, vice president of Microchip’s silicon carbide business unit. “By having the gate drive circuitry preconfigured, this solution can reduce design cycle time by up to 50% compared to a traditional analog solution.”
With over 20 years of experience in the development, design, manufacturing and support of SiC devices and power solutions, Microchip helps customers adopt SiC with ease, speed and confidence. Microchip’s mSiC™ products include SiC MOSFETS, diodes and gate drivers with standard, modified and custom options.
Original – Microchip Technology
-
Transphorm, Inc. announced its financial results for the third quarter of its fiscal year ending March 31, 2024 (“Q3 Fiscal 2024”).
Key Business Highlights
- Reported total revenue of $4.7 million for Q3 Fiscal 2024, an increase of 4.0% over the same quarter last year and a decrease of 6.8% from the prior quarter.
- Product revenue was $3.2 million in the quarter, a decrease of 20% from the same quarter last year and a decrease of 11% from the prior quarter, owing to short term demand pushouts. Government revenue was $1.5 million in the quarter, an increase of 180% from the same quarter last year and flat with the prior quarter. Gross margin in the quarter was 1.6%, compared to (59.4)% in the same quarter last year and 23.4% in the prior quarter – Margins in the current quarter were impacted by a $250K Consumption tax adjustment and $170K in non-recurring scrap.
- Raised $3.0 million through the exercise of existing warrants and $2.1 million of short-term debt.
High Power Segment Update – Continued Leadership of Transphorm in GaN
- Increased total design-ins for higher power (300 watt – 7.5 kilowatt) to over 120 (with over 35 in production), an increase of 20% from the Company’s previous update in November 2023.
- Announced two new SuperGaN devices in a 4-lead TO-247 package, a drop-in replacement for SiC FETs and offering a 35 mOhm and 50 mOhm on-resistance and a benefit of more efficient, switching capabilities with 25% lower energy losses in recent internal tests, increasing socket penetration opportunities with new and existing solutions.
- Announced a collaboration with Allegro MicroSystem’s AHV85110 Isolated Gate Driver and Transphorm’s SuperGaN FETs to increase GaN power system performance for high power applications, using our just released 650V / 70 mOhm TOLL device.
- Launched three Transphorm FETs in surface mount devices (SMD) TOLL packages supporting higher power applications for power hungry AI applications, server power, energy and industrial markets, positioning GaN as optimal devices for these kilo-watt class power hungry applications and proving its high voltage-high power dynamic reliability.
- Launched the SuperGaN TOLT FET, the industry’s first top-sided cooled surface mount GaN device in the JEDEC-standard (MO-332) TOLT Package delivering superior thermal and electrical performance for computing, AI, energy, and automotive power systems.
- Released two battery charger reference designs for electric vehicle (“EV”) charging applications, ideal for two- and three-wheeled EVs.
- On track for 1200V engineering samples by middle of calendar year 2024.
Low Power Segment Update – Transphorm Enables Superior Performance
- Increased total design-ins for power adapters and fast chargers (< 300 watt) to over 125 (with over 30 in production), an increase in ongoing design-ins of 8% from the Company’s previous update in November 2023.
- Announced with Weltrend Semiconductor Inc., a 100-watt USB-C PD power adapter reference design, using Transphorm’s SuperGaN System-in-Package, WT7162RHUG24A, to achieve 92.7% efficiency in a Quasi-resonant flyback topology.
Primit Parikh, Transphorm’s CEO and Co-Founder, commented, “While our third quarter product revenue decreased marginally on a sequential basis, we continued to experience strong momentum in building our revenue pipeline and securing design-ins. During the third quarter, we successfully launched several new high power products and two key reference designs targeted for EV two- and three-wheeler market.”
Q3 Fiscal 2024 Financial Results
Revenue was $4.7 million for Q3 Fiscal 2024, a decrease of $0.3 million, or 6.8%, compared to $5.0 million in the prior quarter and an increase of $0.2 million, or 3.9%, compared to $4.5 million for the same period in 2022 (“Q3 Fiscal 2023”).
Operating expenses were $9.0 million in Q3 Fiscal 2024, compared to $7.7 million in the prior quarter and $7.2 million in Q3 Fiscal 2023 driven largely by legal expenses related to the definitive agreement with Renesas. Q3 Fiscal 2024 operating expenses consisted of R&D expenses of $2.8 million and SG&A expenses of $6.2 million. Operating expenses on a non-GAAP basis were $7.3 million in Q3 Fiscal 2024, compared to $6.4 million in the prior quarter and $6.0 million in Q3 Fiscal 2023.
Net loss for Q3 Fiscal 2024 was ($10.0) million, or ($0.20) per share, compared to net loss of ($7.1) million, or ($0.12) per share, in the prior quarter, and net loss of ($10.5) million, or ($0.18) per share, in Q3 Fiscal 2023. On a non-GAAP basis, adjusted EBITDA for Q3 Fiscal 2024 was ($6.9) million, or ($0.11) per share, compared to non-GAAP adjusted EBITDA of ($5.0) million, or ($0.08) per share, in the prior quarter, and non-GAAP adjusted EBITDA of ($8.5) million, or ($0.15) per share, in Q3 Fiscal 2023.
Cash, cash equivalents and restricted cash as of December 31, 2023, were $8.0 million.
Original – Transphorm
-
Texas Instruments introduced two new power conversion device portfolios to help engineers achieve more power in smaller spaces, providing the highest power density at a lower cost. TI’s new 100V integrated gallium nitride (GaN) power stages feature thermally enhanced dual-side cooled package technology to simplify thermal designs and achieve the highest power density in mid-voltage applications at more than 1.5kW/in3.
TI’s new 1.5W isolated DC/DC modules with integrated transformers are the industry’s smallest and most power-dense, helping engineers shrink the isolated bias power-supply size in automotive and industrial systems by over 89%. Devices from both portfolios will be on display at this year’s Applied Power Electronics Conference (APEC), Feb. 25-29 in Long Beach, California.
“For power-supply designers, delivering more power in limited spaces will always be a critical design challenge,” said Kannan Soundarapandian, general manager of High Voltage Power at TI. “Take data centers, for example – if engineers can design power-dense server power-supply solutions, data centers can operate more efficiently to meet growing processing needs while also minimizing their environmental footprint. We’re excited to continue to push the limits of power management by offering innovations that help engineers deliver the highest power density, efficiency and thermal performance.”
Increase power density and efficiency with 100V integrated GaN power stages
With TI’s new 100V GaN power stages, LMG2100R044 and LMG3100R017, designers can reduce power-supply solution size for mid-voltage applications by more than 40% and achieve industry-leading power density of over 1.5kW/in3, enabled by GaN technology’s higher switching frequencies. The new portfolio also reduces switching power losses by 50% compared to silicon-based solutions, while achieving 98% or higher system efficiency given the lower output capacitance and lower gate-drive losses. In a solar inverter system, for example, higher density and efficiency enables the same panel to store and produce more power while decreasing the size of the overall microinverter system.A key enabler of the thermal performance in the 100V GaN portfolio is TI’s thermally enhanced dual-side cooled package. This technology enables more efficient heat removal from both sides of the device and offers improved thermal resistance compared to competing integrated GaN devices.
To learn more about the benefits of TI’s 100V GaN power stages for mid-voltage applications, read the technical article, “4 mid-voltage applications where GaN will transform electronic designs.”
Shrink bias power supplies by more than 89%
With over eight times higher power density than discrete solutions and three times higher power density than competing modules, TI’s new 1.5W isolated DC/DC modules deliver the highest output power and isolation capability (3kV) for automotive and industrial systems in a 4mm-by-5mm very thin small outline no-lead (VSON) package. With TI’s UCC33420-Q1 and UCC33420, designers can also easily meet stringent electromagnetic interference (EMI) requirements, such as Comité International Spécial des Perturbations Radioélectriques (CISPR) 32 and 25, with fewer components and a simple filter design.The new modules use TI’s next-generation integrated transformer technology, which eliminates the need for an external transformer in a bias supply design. The technology allows engineers to shrink solution size by more than 89% and reduce height by up to 75%, while cutting bill of materials by half compared to discrete solutions.
With the first automotive-qualified solution in this small package, designers can now reduce the footprint, weight and height of their bias supply solution for electric vehicle systems such as battery management systems. For space-constrained industrial power delivery in data centers, the new module enables designers to minimize printed circuit board area.
To learn more about the benefits of TI’s 1.5W isolated DC/DC modules, read the technical article, “How a new isolated DC/DC module can help solve power-density challenges.”
Pushing the limits of power at APEC 2024
These new devices are the latest ways TI is pushing power further and making innovation possible for engineers everywhere. At APEC 2024, TI will showcase the latest automotive and industrial designs for 48V automotive power; the first USB Power Delivery Extended Power Range full charging solution on the market; an 800V, 300kW silicon carbide-based traction inverter; high-efficiency power for server motherboards; and more.- Saturday, Feb. 24-Thursday, Feb. 29: Visit TI in the Long Beach Convention & Entertainment Center, Booth No. 1145. See TI.com/APEC for more information.
- Wednesday, Feb. 28 at 12 p.m. Pacific time: TI General Manager of Industrial Power Design Services Robert Taylor will present an industry session, “To Power Density and Beyond: Breaking Through Barriers to Achieve the Highest Power Density.” He will discuss innovations in packaging, integration and system-level techniques that are making greater power density possible.
- Throughout APEC: TI power experts will lead 20 industry and technical sessions to address power-management design challenges. The full schedule of TI experts’ industry and technical sessions is available at TI.com/APEC.
Original – Texas Instruments
-
Okmetic announced that the company has received Infineon Technologies’ Best Wafer Supplier award 2023. In their statement, Infineon Technologies described Okmetic as extremely supportive, agile and flexible, listening to the company needs.
Okmetic expresses gratitude to Infineon for this recognition and for the continued trust and partnership.
Infineon Technologies is a global semiconductor leader in power systems and IoT enabling game-changing solutions for green and efficient energy, clean and safe mobility, as well as smart and secure IoT. Okmetic is extremely proud to support Infineon Technologies with its silicon and SOI wafer solutions.
Original – Okmetic
-
Mitsubishi Electric Corporation announced an organizational changes and changes in the executive officer structure, and division of duties effective April 1, 2024, pursuant to a resolution passed during a regular meeting of the Board of Directors held on February 20, 2024. The company also announces Executive Officers (Associate) to be appointed on the same date.
1. Organizational Changes (effective April 1, 2024)
(1) Establishment of Sustainability Innovation Group
Mitsubishi Electric intends to comprehensively and strategically promote the creation and strengthening of businesses that solve social issues and the upgrading of business foundations, and transform the company. For this purpose, the company will newly establish Sustainability Innovation Group by integrating Sustainability Planning Division, Corporate Environmental Sustainability Department, and commercialization projects related to Diversity & Inclusion as well as Sustainability.
(2) Establishment of IT Solution Business & Business Process Reengineering Group
Mitsubishi Electric intends to provide a Circular Digital-Engineering management platform, further accelerate collaboration to strengthen the information systems and service businesses, and to strongly promote company-wide measures including business reform of Mitsubishi Electric Group through flexible management of resources. For this purpose, the company will merge Corporate Information Security Division, Corporate Process & Operation Reengineering Group, and Information Systems & Network Service Group to create IT Solution Business & Business Process Reengineering Group.
(3) Establishment of Corporate Strategic Planning Group, Corporate Human Resources Group, Corporate Finance & Accounting Group, and Corporate Legal & Risk Management Group
Mitsubishi Electric intends to establish several overseeing divisions that unite closely related divisions of the company to drive operational efficiency and organizational streamlining, as well as to speed up decisionmaking. For this purpose, the following overseeing divisions will be established: Corporate Strategic Planning Group, which will oversee Corporate Strategic Planning Division, Associated Companies Division, and Three Key Reforms Division; Corporate Human Resources Group, which will oversee divisions related to Human Resources & General Affairs; Corporate Finance & Accounting Group, which will oversee divisions related to Accounting & Finance; and Corporate Legal & Risk Management Group, which will oversee divisions related to Legal Affairs, Intellectual Property & External Relations, Risk Management, Economic Security, Export Control, and Government & External Relations.
2. Changes in Executive Officers (effective April 1, 2024)
Name Assignments and positions (as of April 1, 2024) Assignments and positions (as of February 20, 2024) Kei Uruma Representative Executive Officer, President & CEO Same as left Tadashi Matsumoto Representative Executive Officer, Executive Vice President, Life Business Area(*) Owner (Senior General Manager, Life BA Strategic Planning Office, Representative Director and Chairperson, Mitsubishi Electric Building Solutions Corporation), In charge of Export Control Representative Executive Officer, Executive Vice President, Life Business Area(*) Owner (Senior General Manager, Life BA Strategic Planning Office, Representative Director and President, Mitsubishi Electric Building Solutions Corporation), In charge of Export Control Kunihiko Kaga Representative Executive Officer, Senior Vice President, Industry and Mobility Business Area(*) Owner (Senior General Manager, Industry and Mobility BA Strategic Planning Office, Group President, Automotive Equipment, Representative Director and President, Mitsubishi Electric Mobility Corporation) Representative Executive Officer, Senior Vice President, Industry and Mobility Business Area(*) Owner (Senior General Manager, Industry and Mobility BA Strategic Planning Office), CTO (In charge of Technology Strategies(*)) Noriyuki Takazawa Senior Vice President, Infrastructure Business Area(*) Owner (Senior General Manager, Infrastructure BA Strategic Planning Office) Same as left Satoshi Kusakabe Senior Vice President, CRO (In charge of Legal Affairs & Intellectual Property & Eternal Relations, Risk Management, Economic Security, Export Control and Government & External Relations) Executive Officer, CRO (In charge of Legal Affairs & Compliance, Risk Management, Economic Security, and Export Control) Yoji Saito Executive Officer, CMO (In charge of Global Marketing(*) and Advertising, Vice President, Corporate Marketing) Executive Officer, CMO (In charge of Global Marketing(*) and Advertising, Vice President, Corporate Marketing), In charge of Government & External Relations Eiichiro Mitani Executive Officer, CIO & Business Platform Business Area(*) Owner (In charge of Information Security, Group President, IT Solution Business & Business Process Reengineering Group, Senior General Manager, Business Platform BA Strategic Planning Office) Executive Officer, Business Platform Business Area(*) Owner (Senior General Manager, Business Platform BA Strategic Planning Office, Group President, Information Systems & Network Service), CIO (In charge of Information Security and IT, Vice President, Corporate Process & Operation Reengineering) Kuniaki Masuda Executive Officer, CFO (In charge of Financial Strategy, Accounting, and Finance), In charge of IR and SR Executive Officer, CFO (In charge of Accounting and Finance) Tomonori Sato Executive Officer, CTO (In charge of Technology Strategies(*)), Group President, Defense & Space Systems Executive Officer, Group President, Defense & Space Systems Yoshikazu Nakai Executive Officer, CPO (In charge of Manufacturing(*)), CQO (Vice President, Corporate Quality Assurance Reengineering) Executive Officer, CPO (In charge of Manufacturing(*), Vice President, Corporate Total Productivity Management), CQO (Vice President, Corporate Quality Assurance Reengineering) Satoshi Takeda Executive Officer, CSO (In charge of Corporate Strategic Planning, Operations of Associated Companies, and Three Key Reforms(*)), CDO (In charge of DX, Vice President, Business Innovation) Executive Officer, CSO (In charge of Corporate Strategic Planning, IR and SR, Operations of Associated Companies, Three Key Reforms(*), and Sustainability), CDO (In charge of DX, Vice President, Business Innovation) Yasunari Abe Executive Officer, CHRO (In charge of Global Human Resources Strategy, Human Resources & General Affairs, Senior General Manager, Corporate Human Resources Group), In charge of Public Relations Executive Officer, CHRO (In charge of General Affairs and Human Resources, Senior General Manager, Corporate Human Resources Div.), In charge of Public Relations *Details of areas of responsibility
- Three Key Reforms: Quality assurance reform, organizational culture reform, governance reforms
- Technology Strategies: Intellectual Property, Corporate Research and Development
- Global Marketing: Overseas and Domestic Marketing
- Manufacturing: Corporate Quality Assurance Reengineering, Total Productivity Management
- Infrastructure Business Area: Public Utility Systems, Energy & Industrial Systems, Defense & Space Systems
- Industry and Mobility Business Area: Factory Automation Systems, Automotive Equipment
- Life Business Area: Building Systems, Living Environment & Digital Media Equipment
- Business Platform Business Area: IT Solution Business & Business Process Reengineering
*Details of Chief Officers- CEO: Chief Executive Officer
- CRO: Chief Risk Management Officer
- CMO: Chief Marketing Officer
- CIO: Chief Information Officer
- CFO: Chief Financial Officer
- CTO: Chief Technology Officer
- CPO: Chief Productivity Officer
- CQO: Chief Quality Officer
- CSO: Chief Strategy Officer
- CDO: Chief Digital Officer
- CHRO: Chief Human Resources Officer
3. Retiring Executive Officer (effective March 31, 2024)
Executive Officer Atsuhiro Yabu 4. Changes of Executive Officers (Associate) (effective April 1, 2024)
Name Assignments and positions (as of April 1, 2024) Positions (as of February 20, 2024) Yasumichi Tazunoki Executive Officer, Group President, Living Environment & Digital Media Equipment Same as left Shigeki Kawaji Executive Officer, In charge of Purchasing, Senior General Manager, Corporate Purchasing Div. Same as left Kenichiro Fujimoto Executive Officer, Senior General Manager, Corporate Finance & Accounting Group Executive Officer, Overseeing Accounting and Finance, Senior General Manager, Corporate Accounting Div. Masayoshi Takemi Executive Officer, Group President, Semiconductor & Device Same as left Hideto Negoro Executive Officer, Group President, Public Utility Systems Same as left Masahiro Oya Executive Officer, Vice President, Global Strategic Planning & Marketing Same as left Iwao Oda Executive Officer, Group President, Building Systems, Representative Director and President, Mitsubishi Electric Building Solutions Corporation Executive Officer, Group President, Building Systems, Representative Director and Vice President, Mitsubishi Electric Building Solutions Corporation Hiroshi Tsuchimoto Executive Officer, In charge of Auditing, Senior General Manager, Corporate Strategic Planning Group Executive Officer, In charge of Auditing, Senior General Manager, Corporate Strategic Planning Div. Toshie Takeuchi Executive Officer, Group President, Factory Automation Systems Same as left Soichi Hamamoto Executive Officer, Group President, Energy & Industrial Systems Same as left Toru Oka Executive Officer, In charge of Intellectual Property, Vice President, Corporate Research and Development Executive Officer, In charge of Intellectual Property, Vice President, Corporate Research and Development Michael Corbo Executive Officer, Representative of Americas, Global Strategic Planning & Marketing, President, Mitsubishi Electric US Holdings, Inc., President & CEO, Mitsubishi Electric US, Inc. Same as left Yusuke Sijiki Executive Officer, Vice President, Corporate Total Productivity Management Deputy Vice President, Corporate Total Productivity Management, Senior General Manager, Planning &Administration Dept. Norikazu Yamaguchi Executive Officer, Senior General Manager, Corporate Legal & Risk Management Group Senior General Manager, Legal Affairs & Compliance Div. Seiji Oguro Executive Officer, In charge of Sustainability, Vice President, Sustainability Innovation Group Deputy Senior General Manager, Corporate Strategic Planning Div. 5. Name and Career Summaries of New Officers (as of February 20, 2024) (1) Newly Appointed Executive Officers (Associate)
Yusuke Sijiki March 1989 Completed Master’s course in School of Aeronautics and Astronautics, Kyushu University April 1989 Joined the Company April 2017 Deputy Senior General Manager, Communication Systems Center April 2018 Senior General Manager, Kamakura Works April 2022 Deputy Vice President, Corporate Total Productivity Management April 2023 Deputy Vice President, Corporate Total Productivity Management, Senior General Manager, Planning & Administration Dept. (current position) Norikazu Yamaguchi March 1990 Graduated from Faculty of Law, Chuo University April 1990 Joined the Company October 2020 Deputy Senior General Manager, Legal Affairs & Compliance Div. April 2021 Senior General Manager, Legal Affairs & Compliance Div. (current position) Seiji Oguro March 1994 Graduated from Faculty of Economics, Keio University April 1994 Joined the Company April 2022 Deputy Senior General Manager, Corporate Strategic Planning Div. (current position) Original – Mitsubishi Electric
-
Infineon Technologies AG successfully placed a corporate bond with a volume of €500 million under its EMTN (European Medium Term Notes) program. The placement was multiple times over-subscribed. The bond has an annual coupon of 3.375% and a maturity of three years.
“The transaction was a resounding success, following the recent upgrade of our credit rating to ’BBB+, outlook stable’ by S&P Global. We are pleased to see the great interest of domestic and international bond investors.“ said Alexander Foltin, Head of Finance, Treasury and Investor Relations of Infineon.
The bond is issued in partial debentures in the nominal amount of €100,000 each and was placed exclusively with qualified institutional investors. The proceeds will be used for general corporate purposes as well as the refinancing of debt maturities. Infineon had placed corporate bonds the last time in February 2022, with a volume of €500 million under its EMTN program.
Important notice
The Base Prospectus dated February 7, 2024 and the supplement No. 1 to the base prospectus dated February 16, 2024 for the Issuer’s EUR 8,000,000,000 Debt Issuance Programme are available at https://www.luxse.com. Any supplements to the Base Prospectus and the Final Terms for the securities described herein will be available at https://www.luxse.com upon their publication.
The distribution of this announcement and the offering of the bonds of Infineon Technologies AG (Infineon) in certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes are required to inform themselves about, and to observe, any such restrictions. This announcement does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities to any person in the United States of America, Australia, Canada, Japan or in any jurisdiction to whom or in which such offer or solicitation is unlawful.
Securities may not be offered or sold absent registration except pursuant to an exemption from, or a transaction not subject to, the registration requirements under the U.S. Securities Act of 1933, as amended. There will be no public offer of securities in the United States of America or in any other jurisdiction.
In member states of the European Economic Area (“EEA”), this announcement is only addressed to and directed at persons who are ‘qualified investors’ within the meaning of Article 2(e) of the Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (as amended, the “Prospectus Regulation”) (“Qualified Investors”). In the United Kingdom, this announcement is only addressed to and directed at persons who are “qualified investors” within the meaning of Article 2(e) of the Prospectus Regulation, as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, and who are also (i) professional investors falling within Article 19(5) (investment professionals) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the “Order”), (ii) persons falling within Article 49(2)(a) to (d) (high net worth companies, incorporated associations, etc.) of the Order, or (iii) to whom it may otherwise be lawfully communicated; any investment or investment activity this announcement relates to, is available only to, and will be effected only with, such persons in the United Kingdom; any other persons in the United Kingdom should not take any action on the basis of this announcement and should not act on or rely on it.
To the extent this announcement contains predictions, expectations or statements, estimates, opinions and projections with respect to anticipated future performance of Infineon (“forward-looking statements”), they are based upon current views and assumptions of the Infineon management, which were made to its best knowledge. Forward-looking statements reflect various assumptions taken from Infineon’s current business plan or from public sources which have not been independently verified or assessed by Infineon and which may or may not prove to be correct. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors which could cause the earnings position, profitability, performance or the results of Infineon or the success of the industries in which Infineon operates to differ materially from the earnings position, profitability, performance or the results expressly or implicitly assumed or described in these forward-looking statements. In consideration of these risks, uncertainties and other factors, persons receiving this document are advised not to rely on these forward-looking statements. Infineon does not assume any liability or guarantee for such forward-looking statements and will not adjust them to any future results and developments.
Pursuant to EU product governance requirements, the bonds have been subject to a product approval process, under which each distributor has determined that such bonds are: (i) compatible with an end target market of investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II to professional clients and eligible counterparties, respectively. Any distributor subsequently offering the bonds is responsible for undertaking its own target market assessment in respect of the bonds and determining appropriate distribution channels.
Original – Infineon Technologies
-
Ideal Power Inc. announced that the Company commenced commercial shipment of its SymCool™ Power Module to a large, global customer.
“The commencement of SymCool™ shipments to fulfill customer orders is an exciting time for Ideal Power and a pivotal step in the commercialization of our B-TRAN™ technology. We could not be more excited,” stated Dan Brdar, President and Chief Executive Officer of Ideal Power. “We expect to convert large OEMs into design wins and/or additional custom development agreements this year. We’re thrilled we are successfully executing against our commercialization roadmap, remain on track to achieve our 2024 milestones, and look forward to several commercial announcements in the coming months.”
The SymCool™ Power Module targets several applications including solid-state switchgear, renewable energy inverters for solar and wind, industrial inverters, electric vehicles (EVs) and EV charging. Customer evaluations confirmed the B-TRAN™ technology packaged into the multi-die SymCool™ Power Module has lower conduction losses and significant efficiency benefits over existing IGBT-based designs.
SymCool™ Power Module is a Groundbreaking Innovation
The SymCool™ Power Module delivers clear advantages for several markets including the large, growing solid-state switchgear market where there is a need for low conduction losses in a wide range of applications such as solid-state circuit breakers (SSCBs), protective relays and contactors.
The SymCool™ Power Module utilizes Ideal Power’s B-TRAN™ technology, a dual-sided semiconductor with inherent bidirectional capability. Existing power semiconductors, such as IGBTs, are single-sided and operate as unidirectional switches.
The inherent bidirectional capability of the SymCool™ Power Module means that half as many switches are needed compared to implementation with IGBTs, as IGBT-based modules need a dedicated switch for each direction of energy flow. Fewer components translate to smaller, more cost-efficient OEM designs. In addition, SymCool™ Power Modules can be configured in parallel to achieve the required current for a wide range of applications and OEM products.
The Company looks forward to the SymCool™ sales ramp beginning in the second half of 2024 as expected.
SymCool™ Energy Savings
Circuit breakers continuously conduct current, so it is critical to keep conduction losses to a minimum. The SymCool™ Power Module exhibits dramatically lower conduction losses compared to IGBTs, thereby allowing for energy savings that are necessary as power grids are modernized. In particular, the integration of renewable energy sources and energy storage systems into the grid will require circuit breakers that do not waste the precious energy generated by solar or wind. The low conduction losses of the SymCool™ Power Module meet this requirement.
Circuit Breakers are Everywhere
Circuit breakers perform critical functions in controlling the flow of electricity and containing high currents created by faults in that flow in a wide variety of applications. In addition to the high demand for circuit breakers from renewable energy, microgrids, energy storage, and EV applications, there is a tremendous need to upgrade aging infrastructure, including utility transmission and distribution networks and railway systems.
Two critical circuit breaker operating requirements are fast switching and low conduction losses. Traditional mechanical circuit breakers are slow acting and prone to wear and arcing; IGBT and MOSFET-based SSCBs suffer from high conduction losses. The fast-switching speed of B-TRAN™ solves the slow operating time and electrical arcing of electromechanical circuit breakers while also providing more than 50% lower conduction losses compared to SSCBs utilizing conventional semiconductor power switches.
In addition to energy savings, the improved efficiency also results in lower cost and less complex cooling systems, benefits that significantly impact the economics of SSCBs and applications incorporating the SSCBs such as transmission and distribution systems. This is why B-TRAN™ is an enabling technology for SSCBs.
Original – Ideal Power
-
Coherent Corp. announced that Dr. Vincent (“Chuck”) D. Mattera, Jr., has informed the Coherent Board of Directors of his intent to retire as CEO following the commencement of employment of his successor. Dr. Mattera’s intention to retire does not reflect a dispute or disagreement with the Company. In parallel with today’s announcement, the Company is reaffirming the guidance set forth in that certain Shareholder Letter dated as of February 5, 2024, and furnished on such date as an exhibit to a Current Report on Form 8-K filed on that day.
Coherent’s Board of Directors has retained a leading executive search firm to immediately commence a comprehensive search process, which will include evaluating internal and external candidates, to identify a new CEO to lead the Company into the future. A subcommittee of the Board has been formed to oversee the search process.
Dr. Mattera, 68, has served with Coherent for 20 years, the last eight of which have been as CEO. He is the Company’s third CEO since its founding in 1971 as II-VI Incorporated. He has also served as Chair of the Company’s Board of Directors since November 2021. During his tenure, Dr. Mattera led the transformation of II-VI, a premier supplier of engineered materials and optoelectronic components, into Coherent Corp., a global, diversified company enabling multiple irreversible megatrends in the industrial, communications, electronics, and instrumentation markets. Over his 20 years, the Company’s annual revenue grew from $150 million in fiscal 2004 to more than $5 billion in fiscal 2023.
“Leading this 53-year-old company through its multi-decade growth transformation has been an incredible privilege,” said Dr. Mattera. “I want to acknowledge and deeply thank our employees, investors, customers, partners, and especially our Leadership Team, as well as my fellow Board members, for our shared accomplishments and for helping make my years at Coherent so rewarding and impactful.
“Since the strategic combination of II-VI and Coherent two years ago, I am most proud of the tremendous progress we have made to integrate our two organizations, optimize synergies, and place the Company in an advantaged position for accelerated growth. With Coherent on a clear path to improved margins and continued profitable growth, its track record of product leadership, customer intimacy, operational excellence, and the unstoppable imagination of our world-class people, I believe that now is the right time to look toward the next chapter of the Company’s transformation,” Dr. Mattera said.
“I have never been more excited about Coherent’s prospects and look forward to transitioning to the next generation of leadership to execute new value creation opportunities and continue to unlock longer-term profitable growth. I am confident that Coherent’s extraordinary track record of financial and operational excellence, and its broad and deep foundation in materials, networking, and lasers, will pave the way for our sustained success. The future of Coherent is bright, and I am pleased to continue to play a role in delivering on our near-term strategic priorities and driving the seamless execution of our leadership succession plan, with the support and involvement of the Board.”
“Throughout Chuck’s tenure, he played a critical role in leading the development and execution of our strategic growth plans, helping transform the Company into a true market leader and redefine the future through breakthrough technologies. He has spent his entire career in and around the industry and has been instrumental in advancing the sector into one that is fundamental in today’s ever-changing environment. As CEO since 2016, Chuck has driven an over 700% increase in the Company’s market capitalization, to over $9 billion, and the Board and I can’t thank him enough for his outstanding contributions and stalwart leadership over the last 20 years. We look forward to continuing our work with Chuck in the near term and appreciate his continued leadership to ensure a smooth transition,” said Enrico DiGirolamo, Lead Independent Director.
“Since Coherent’s founding, the Company has been squarely focused on emerging trends and megatrends, investing in innovation to better anticipate what’s now, next, and beyond, and forming key strategic partnerships to best support our customers,” said Mr. DiGirolamo. “The markets we serve are changing rapidly, and, as we look ahead to our next chapter, we will continue to best position ourselves to capitalize on those areas where we see the greatest opportunities for growth and value creation. This includes finding the right new CEO, supported by seasoned business leaders and our exceptional Leadership Team, to steer our company forward, enhance our operating performance, and further strengthen our financial foundation.”
Original – Coherent
-
Wolfspeed, Inc. announced an expanded partnership with FIRST® Robotics Competition to take their shared commitment to science, technology, engineering, and math (STEM) educationinternational. Together, they will sponsor hands-on STEM programs that combine the excitement of athletics with the rigors of science and technology for high school students around the world. This new global sponsorship builds on Wolfspeed’s existing partnership with FIRST to sponsor competitions in the United States.
“At Wolfspeed, inspiring young minds in STEM fields is a core part of our values,” said Wolfspeed Chief Human Resources Officer, Margaret Chadwick. “We are thrilled to expand our partnership with FIRST Robotics Competition on a global scale. The hands-on learning and enthusiastic competition will ignite passion and innovation in students worldwide, while preparing them to become the next generation of inventors and leaders. Together with FIRST, we are committed to making a lasting impact and fostering diversity in our industry through STEM engagement across the globe.”
Wolfspeed’s 2023-2024 season partnership includes a team grant to “Neon Krakens,” the only FIRST Robotics Competition Team in Chatham County, North Carolina. The county is the site of Wolfspeed’s new silicon carbide manufacturing facility, currently under construction and set to be the world’s largest factory of its kind.
“FIRST is dedicated to inspiring young minds in STEM fields and equipping them with the skills needed to succeed in today’s ever-evolving world,” said Collin Fultz, Senior Director, FIRST Robotics Competition. “We are excited to expand our collaboration with Wolfspeed, enhancing the excitement of FIRST Robotics Competition for students worldwide. This partnership will not only help us further ignite a passion for STEM, but also foster diversity in our industry, ultimately helping us create a more innovative and inclusive future.”
Original – Wolfspeed
-
Texas Instruments Incorporated announced that Reginald DesRoches, president of Rice University, has been elected to TI’s board of directors, effective March 1.
“We’re pleased to welcome Reggie to our board,” said Rich Templeton, TI’s chairman of the board. “With his decades of experience in academia and background in engineering, Reggie understands the impact that technology can have in our lives and the world. We’re confident he’ll be a valuable contributor to our strategic discussions.”
Dr. DesRoches, 56, has had a distinguished career in higher education, including positions of increasing responsibility at two major universities with highly ranked engineering programs. He has been the president of Rice University in Houston, Texas, since 2022 and a professor of engineering since 2017. Prior to his role as president, he was Rice’s Howard Hughes Provost and the William and Stephanie Sick Dean of Engineering. Before his appointment at Rice, Dr. DesRoches was the chair of the School of Civil and Environmental Engineering at the Georgia Institute of Technology (Georgia Tech).
Dr. DesRoches has a Bachelor of Science in Mechanical Engineering, a Master of Science in Civil Engineering and a Doctorate in Structural Engineering from the University of California, Berkeley.
“Reggie has a competitive spirit and a track record of leading organizations to new levels of achievement – which are valued at TI,” said Todd Bluedorn, chair of the board’s governance and stockholder relations committee. “We look forward to working with him.”
Original – Texas Instruments
