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Infineon Technologies AG and HD Korea Shipbuilding & Offshore Engineering Co. Ltd. (HD KSOE) have signed a non-binding Memorandum of Understanding (MoU) as a first step towards jointly developing emerging applications for the electrification of marine engines and machinery using energy-efficient power semiconductor technology.
HD KSOE, a marine pioneer and global leader in ship building, is already focusing on creating eco-friendly decarbonized ship technology that uses electricity and hydrogen. The company will now cooperate with Infineon to create innovative power solutions for propulsion drive technology, a core element for ship electrification.
Power semiconductors from Infineon drive the transformation towards clean, safe, and smart mobility services across all means of transportation. For modern maritime applications they are a key factor in guaranteeing a precise control of multiple power modules, such as large-capacity propulsion drives.
Infineon will provide HD KSOE with technical assistance and mentoring in semiconductor power modules and system solutions, as well as share information on new semiconductor trends for marine applications. With the partnership HD KSOE aims to enhance reliability and performance of marine vessels’ propulsion drive technology contributing to environmental sustainability through the electrification of ships.
Worldwide, maritime transport is responsible for almost 2.5 percent of total greenhouse gas emissions, according to the International Maritime Organization. It produces one billion tons of CO 2 each year. The transition to electric ships is imperative to mitigate the environmental impact of maritime transportation.
“We are pleased to sign an MoU with Infineon, which underpins our innovation efforts to become a leader in ship electrification technology,” said Chang Kwang-pil, Chief Technology Officer of HD KSOE. “Together, we will combine our strengths to create energy-efficient power solutions for CO2-friendly propulsion drives.”
“At Infineon we are providing the technologies needed in today’s world of transportation to drive electrification that will shape the future of mobility,” said Dr. Peter Wawer, Division President Green Industrial Power at Infineon Technologies. “We are excited to work closely together with HD KSOE to develop clean, safe and smart mobility solutions. This way, we contribute to a more sustainable marine engine ecosystem and drive the decarbonization of shipping.”
Original – Infineon Technologies
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CVD Equipment Corporation announced its financial results for the fourth quarter and fiscal year ended December 31, 2023.
Manny Lakios, President and CEO of CVD Equipment Corporation, commented, “Fourth quarter 2023 revenue was $4.1 million, down significantly versus the prior year period, as our business continues to experience fluctuations in revenue given the nature of the emerging growth end markets we serve. While we are disappointed with both our fourth quarter and full year performance, we’ll stay the course on our strategy to return to consistent profitability, with a focus on growth and return on investment.”
Mr. Lakios added, “Our primary goal is to expand penetration of our equipment solutions into high power electronics, battery material, aerospace and industrial applications. To this end, I am very pleased to announce that we started off 2024 with several key new order wins. First, we successfully penetrated a second PVT equipment customer, with an evaluation order for our newly launched PVT200 system used to grow 200 mm silicon carbide crystals. This represents an important milestone for CVD, with potential follow-on production orders should our equipment effectively meet the customers’ needs. Second, we received a $10 million multisystem order for a SiC CVD coating reactor from an industrial customer, which will be used to deposit a silicon carbide protective coating on OEM components. We are encouraged by these orders, as we continue to make investments in both research and development and sales and marketing, including direct engagement with multiple potential customers, focused on our key markets.”
Fourth Quarter 2023 Financial Performance
- Revenue of $4.1 million, down $3.1 million or 43.2% year over year primarily due to lower system revenues.
- Gross profit margin percentage was a negative 8.5% due to a large contract that experienced significant cost overruns during the quarter.
- Operating loss of $2.5 million.
- Net loss of $2.3 million or $0.33 basic and diluted share, compared to a net income of $1.5 million or $0.23 per basic and diluted share during the prior year fourth quarter. Net income in 2022 included $1.5 million of other income related to the recognition of Employee Retention Credits related to fiscal 2021.
- Cash and cash equivalents of $14.0 million as of December 31, 2023.
Full Year 2023 Financial Performance
- Revenue of $24.1 million, down $1.7 million or 6.6% year over year primarily due to the disposition of Tantaline and the wind down of MesoScribe’s operations.
- Our gross profit margin percentage was 21.0% in 2023 as compared to 25.7% in the prior year due to a large contract in 2023 that experienced significant cost overruns and other higher margin system contracts in 2022.
- Operating loss of $4.9 million.
- Net loss of $4.2 million or $0.62 basic and diluted share, compared to a net loss of $0.2 million or $0.03 per basic and diluted share in the prior year. Net loss in 2022 included $1.5 million of other income related to the recognition of Employee Retention Credits.
Fourth Quarter 2023 Operational Performance
- Orders for the fourth quarter were $5.8 million driven by continued demand in the aerospace sector and in our SDC segment for gas delivery equipment.
- Received a $2.1 million system order in the aerospace sector that will be delivered over the next 12 months.
- Received a $1.0 million order in our SDC segment for gas delivery equipment.
- During the fourth quarter, we developed a plan to reduce our operating costs to be consistent with current customer demand. This resulted in a reduction in our work force in early January 2024. We continue to evaluate opportunities to reduce our operating costs.
Full Year 2023 Operational Performance
- Booking of new orders from customers was $25.8 million, representing a decrease of approximately 22.1% compared to 2022 bookings of $33.1 million. The decline in bookings was related to large orders of PVT150 systems that were received in 2022.
- Backlog as of December 31, 2023 of $18.4 million, an increase from $17.8 million from the prior year end.
Original – CVD Equipment
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Ideal Power Inc. announced the closing of its previously announced underwritten public offering of 2,000,000 shares of its common stock (or pre-funded warrants in lieu thereof) at an offering price of $7.50 per share of common stock.
Titan Partners Group, a division of American Capital Partners, acted as sole book-running manager for the offering.
The gross proceeds to the Company from the offering were approximately $15 million, before deducting underwriting discounts, commissions and other estimated offering expenses payable by the Company. The Company intends to use the net proceeds from this offering for general corporate and working capital purposes.
The offering was made pursuant to an effective “shelf” registration statement on Form S-3 (File No. 333-269060) previously filed with the Securities and Exchange Commission (the “SEC”) on December 29, 2022, and declared effective by the SEC on January 9, 2023. A final prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering were filed with the SEC on March 27, 2024.
Electronic copies of the final prospectus supplement and the accompanying prospectus relating to the offering, may be obtained by visiting the SEC’s website at www.sec.gov or by contacting Titan Partners Group LLC, a division of American Capital Partners, LLC, 4 World Trade Center, 29th Floor, New York, New York 10007, by phone at (929) 833-1246 or by email at prospectus@titanpartnersgrp.com.
Original – Ideal Power
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LATEST NEWSToshiba Starts Volume Shipments of SmartMCD™ Series of Gate Driver ICs with Embedded Microcontroller
March 28, 2024
2 Min ReadToshiba Electronic Devices & Storage Corporation has started volume shipments of the SmartMCD™ Series of gate driver ICs with embedded microcontroller (MCU). The first product, “TB9M003FG“, is suitable for sensorless control of three-phase brushless DC motors used in automotive applications, including water and oil pumps, fans and blowers.
TB9M003FG combines a microcontroller (Arm® Cortex®-M0), flash memory, power control functions and communications interface functions into a gate driver that controls and drives N-ch power MOSFETs for three-phase brushless DC motor drives.
This integration will reduce system sizes and component counts while realizing advanced and complex motor control for a wide variety of automotive motor applications. The new product also incorporates Toshiba’s proprietary vector engine, hardware for sensorless sinewave control, reducing the load on the microcontroller, and the size of the software.
A reference design using TB9M003FG, “Motor Driving Circuit for Automotive Body Electronics Using SmartMCD™”, is now available on Toshiba’s website.
The expanding market for electric vehicles (xEV) requires electrification, component integration, downsized electronic control unit (ECUs), and quieter motors. In response, the new product contributes to downsizing of ECUs by integrating a microcontroller into the gate driver, and to quieter motors by using vector control.
Original – Toshiba
