By GlobeNewswire, October 14, 2013, 10:00:00 AM EDT
Company to Present Update on HVPE System Development
MERRIMACK, N.H., Oct. 14, 2013 (GLOBE NEWSWIRE) -- GT Advanced Technologies (Nasdaq:GTAT) is participating in the LED Forum Taipei 2013 event being held in Taipei, TaiwanOctober 16-17, 2013. GT's Chief Technology Officer, Dr. Raghavan, will discuss the key elements of HVPE GaN system and the expected advantages the system will provide for manufacturers.
Last May, GT announced that it would develop, manufacture and commercialize a HVPE system incorporating Soitec Phoenix Labs' (a subsidiary of Soitec) unique and proprietary HVPE technology including its novel and advanced source delivery system that is expected to lower the costs of precursors delivered to the HVPE reactor. The HVPE system will enable the production of low cost GaN templates on sapphire at scale. GT estimates that its HVPE system could lower precursor costs by greater than 80 percent while improving the throughput of expensive MOCVD tools and lowering CAPEX costs by up to 25 percent. The expected target date for the commercial availability of the HVPE system is the second half of 2014.
A link to the LED Forum Taipei 2013 conference agenda can be found at http://seminar.ledinside.com/Ledforum/current/US/agenda/. GT's presentation can be found on the company's web site at http://investor.gtat.com/events.cfm.
About GT Advanced Technologies Inc.
GT Advanced Technologies Inc. is a diversified technology company with innovative crystal growth equipment and solutions for the global solar, LED and electronics industries. Our products accelerate the adoption of new advanced materials that improve performance and lower the cost of manufacturing. For additional information about GT Advanced Technologies, please visit www.gtat.com.
Certain of the information in this press release relate to the Company's future expectations, plans and prospects for its business and industry that constitute "forward-looking statements" for the purposes of the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to: the Company's ability to successfully develop and commercialize its HVPE technology, the expected advantages the HVPE system will provide for manufacturers; the Company's intent to develop, manufacture and commercialize an HVPE system incorporating HVPE technology including source delivery system that is expected to lower the costs of precursors delivered to the HVPE reactor; the Company's HVPE system will enable the production of low cost GaN templates on sapphire at scale; GT's estimates that its HVPE system could lower precursor costs by greater than 80 percent while improving the throughput of expensive MOCVD tools and lowering CAPEX costs by up to 25 percent; and the Company expects the commercial availability of the HVPE system in the second half of 2014. These forward-looking statements are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside the Company's control, which could cause actual events to differ materially from those expressed or implied by the statements. Other factors that may cause actual events to differ materially from those expressed or implied by our forward-looking statements include the impact of continued decreased demand and/or excess capacity in the markets for the output of the Company's equipment, general economic conditions and the tightening credit markets having an adverse impact on demand for the Company's products, trade disputes involving China (and other countries), limited sales of PV equipment products, the possibility that changes in government incentives may reduce demand for solar products, which would, in turn, reduce demand for our equipment, technological changes could render existing products or technologies obsolete, the Company may be unable to protect its intellectual property rights, competition from other manufacturers may increase, exchange rate fluctuations and conditions in the credit markets and economy may reduce demand for the Company's products and various other risks as outlined in GT Advanced Technologies Inc.'s filings with the Securities and Exchange Commission, including the statements under the heading "Risk Factors" in the Company's quarterly report on Form 10-Q for the quarter ended June 29, 2013. Statements in this press release should be evaluated in light of these important factors. The statements in this press release represent GT Advanced Technologies Inc.'s expectations and beliefs as of the date of this press release. GT Advanced Technologies Inc. anticipates that subsequent events and developments may cause these expectations and beliefs to change. GT Advanced Technologies Inc. is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.
Source: GT Advanced Technologies