News: Microelectronics
6 December 2023
Odyssey names co-founder, CTO & board member Rick Brown as CEO
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 co-founder, chief technology officer & board member Rick Brown has been appointed as CEO. He replaces Mark Davidson, who has stepped down as CEO and board member, and is no longer employed at Odyssey.
Due to cost-reduction actions, both Mark Davidson and chief accounting officer Laura Krauss have moved to consulting roles for the company going forward. As stated previously, Odyssey is currently looking for longer-term financing and exploring strategic alternatives and continues to be financially constrained.
“We have continued to make progress with scaling our vertical GaN technology and developing the manufacturing process to build a larger device that can handle higher current. This larger device will enable us to more widely sample to customers to demonstrate the technology operating at a level which is more likely to be used by customers,” says the firm. “Odyssey’s approach to vertical GaN will offer even greater commercial advantages over silicon, silicon carbide or lateral GaN. Vertical GaN offers a 10x advantage over silicon carbide (SiC) at performance enabling smaller and lighter power systems and cost levels we believe are unattainable by the competing technologies,” it adds. “We are also making progress with foundry services projects. Our pipeline has grown with initial work being completed providing revenue in Q4 with good potential volume, recurring revenue clients for 2024 and beyond. This has also led to some rebalancing of resource deployment between internal product development and externally focused foundry service projects. We are also continuing to review strategic opportunities to address longer-term financing needs.”
Odyssey signs letters of intent with customers for early-access sampling program
Odyssey delivers vertical GaN product samples to lead customers in Q1
