News: Microelectronics
11 August 2023
Odyssey signs letters of intent with customers for early-access sampling program
Odyssey Semiconductor Technologies Inc of Ithaca, NY, USA - which develops high-voltage vertical power switching components based on proprietary gallium nitride (GaN) processing technology — says that, in second-quarter 2023, two letters of intent with customers were signed for its early-access sampling program. At least one additional signed letter of intent is in process and, due to summer holidays in Europe, is expected to be signed by September.
“Lead customers have collaborated along the way and have remained committed to product evaluations. Feedback on products delivered in Q1/2023 validated the performance metrics expected from vertical GaN for power applications,” says CEO Mark Davidson. Additional product samples will be delivered no later than Q4/2023. “While we develop improvements to the products, we are actively engaged in multiple product definition conversations with leading electric vehicle (EV) automotive customers, as well as industrial motor and renewable energy customers,” he adds.
“We must show additional customer traction in Q3 as we need to raise money by the end of the quarter,” says Davidson. “We remain confident in the product development problems getting solved, the quantity and quality of intellectual property being created, and the patience and interest that remains from customers.”
Odyssey says that it is continuing to take product sample requests. Customers can request information and samples of the 650V and 1200V vertical GaN power devices at info@odysseysemi.com.
Odyssey’s foundry on-boarded two new customers in Q2/2023. While only $8000 has been invoiced, these initial product runs will be completed in Q3/2023 with invoicing of about +$100,000. More importantly, says the firm, each customer represents large opportunities with recurring revenue from multiple fabrication runs. Odyssey is converting a $2m pipeline for foundry services to new business as it continues to pursue new opportunities.
Odyssey reckons that its approach to vertical GaN will offer even greater commercial advantages over silicon than silicon carbide (SiC) or lateral GaN. Vertical GaN offers a 10x advantage over silicon carbide at performance enabling smaller and lighter power systems and cost levels unattainable by competing technologies, it is claimed.
Odyssey notes that the market it is pursuing is large and fast growing. The 650V segment is the larger market currently, expected to grow at a compound annual growth rate (CAGR) of 20%. The 1200V product market segment is expected to grow faster, at a 63% CAGR, and is forecasted to become the larger market in the second half of this decade. Collectively, the 650V and 1200V power device market is forecasted by market research firm Yole Group to grow at a combined CAGR of 40% to more than $5bn in 2027.
Odyssey delivers vertical GaN product samples to lead customers in Q1
