Gallium nitride (GaN) power ICs to expand from mobile fast-charger market to higher-power consumer, EV, solar, and data centers.
DUBLIN, Sept. 14, 2021 — (PRNewswire) — Navitas Semiconductor ("the Company" or "Navitas"), the industry-leader in GaN power integrated circuits ("ICs"), has announced its participation in the Taiwan VIP Investor Meeting, hosted by Mesh Ventures. The virtual meeting is scheduled for September 16th at 10pm US EDT, September 17th at 10am in Taiwan.
Gallium nitride (GaN)
is a next-generation semiconductor technology that runs up to 20x faster than legacy silicon and enables up to 3x more power and 3x faster charging in half the size and weight. Navitas' GaNFast™ power ICs integrate GaN power and drive plus protection and control to deliver simple, small, fast and efficient performance. With over 130 patents issued or pending, and significant trade secrets including a proprietary process design kit (PDK), Navitas believes it has a multi-year lead in next-generation GaN power ICs.
Navitas' co-founder and CEO, Gene SHERIDAN and Sr. VP Finance Todd GLICKMAN, will review GaNFast power IC technology and the $13.1B market opportunity in a live presentation with Q&A. To participate, investors should register online via the Mesh Ventures website.
"This VIP Investor Meeting is an excellent opportunity for Taiwanese investors to access this next-generation GaN technology and interact with Navitas management in real-time," said Edward CHYAU, Managing Partner at Mesh Ventures. "As an existing investor, we can speak from experience about how the Navitas team is dedicated to both company revenue growth and ensuring that customers benefit from this leading-edge, environmentally-beneficial technology."
GaN power ICs have up to 10x lower CO2 footprint than legacy silicon chips. The higher efficiency and smaller size of the end equipment mean that customers can accelerate progress on their own carbon net zero plans. As Navitas helps to "Electrify Our World™", GaN is forecasted to address over 2.6 Gtons of CO2 annually by 2050.
"Taiwan is an important focus for Navitas, with a strong manufacturing base for our GaN power IC wafers, test and package assembly, plus an established customer base," said Gene Sheridan, Navitas' co-founder and CEO. "This VIP meeting is an excellent chance to talk with members of the Taiwanese investment community to highlight our aggressive revenue ramp and expansion into new markets, such as consumer electronics and data centers. Overall, it's a $13 billion GaN electrification opportunity – and we are grateful to Mesh for this platform to meet with future-thinking investors."
About Mesh Ventures
Mesh Ventures is a leading venture capital investor, based in Taipei, Taiwan, with a global ecosystem of cross-industry partners spanning corporations, industry leaders, subject matter experts, academia, financial institutions, and professional services. Our network helps us discover new technologies and businesses, analyse technology landscapes, verify supply and demand, and act on opportunities. Our network helps our portfolio companies to address product development issues, align supply chain partners, develop vital strategic relationships, and identify key customers. For our corporate partners, comprised of leading Asian & US semiconductor, electronics, automotive, and industrial companies, we help them engage with cutting-edge enabling technologies and applications.
About Navitas
Navitas Semiconductor Limited is the industry leader in GaN power IC's, founded in 2014. Navitas has a strong and growing team of power semiconductor industry experts with a combined 300 years of experience in materials, devices, applications, systems and marketing, plus a proven record of innovation with over 200 patents among its founders. GaN power ICs integrate GaN power with drive, control and protection to enable faster charging, higher power density and greater energy savings for mobile, consumer, enterprise, eMobility and new energy markets. Over 130 Navitas patents are issued or pending, and over 25 million GaNFast power ICs have been shipped with zero reported GaN field failures. On May 7th, 2021, Navitas announced plans to "Go Public at an Enterprise Value of $1.04 Billion via Live Oak II (NYSE:
LOKB) SPAC Business Combination.
Navitas Semiconductor, GaNFast and the Navitas logo are trademarks or registered trademarks of Navitas Semiconductor Limited. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.
Cautionary Statement Regarding Forward-Looking Statements
The information in this press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding the proposed transaction, the ability of the parties to consummate the transaction, the benefits of the transaction and the combined company's future financial performance, as well as the combined company's strategy, future operations, estimated financial position, estimated revenues and losses, projections of market opportunity and market share, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this press release, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "plan," "seek," "expect," "project," "forecast," the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words.
Live Oak II and Navitas caution you that the forward-looking statements contained in this press release are subject to numerous risks and uncertainties, including the possibility that the expected growth of Navitas' business will not be realized, or will not be realized within the expected time period, due to, among other things: (i) Navitas' goals and strategies, future business development, financial condition and results of operations; (ii) Navitas' customer relationships and ability to retain and expand these customer relationships; (iii) Navitas' ability to accurately predict future revenues for the purpose of appropriately budgeting and adjusting Navitas' expenses; (iv) Navitas' ability to diversify its customer base and develop relationships in new markets; (v) the level of demand in Navitas' customers' end markets; (vi) Navitas' ability to attract, train and retain key qualified personnel; (vii) changes in trade policies, including the imposition of tariffs; (viii) the impact of the COVID-19 pandemic on Navitas' business, results of operations and financial condition; (ix) the impact of the COVID-19 pandemic on the global economy; (x) the ability of Navitas to maintain compliance with certain U.S. Government contracting requirements; (xi) regulatory developments in the United States and foreign countries; and (xii) Navitas' ability to protect its intellectual property rights. Forward-looking statements are also subject to additional risks and uncertainties, including (i) changes in domestic and foreign business, market, financial, political and legal conditions; (ii) the inability of the parties to successfully or timely consummate the proposed transaction, including the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the proposed transaction or that the approval of the stockholders of Live Oak II is not obtained; (iii) the outcome of any legal proceedings that may be instituted against Live Oak II or Navitas following announcement of the proposed transaction; (iv) the risk that the proposed transaction disrupts Live Oak II's or Navitas' current plans and operations as a result of the announcement of the proposed transaction; (v) costs related to the proposed transaction; (vi) failure to realize the anticipated benefits of the proposed transaction; (vii) risks relating to the uncertainty of the projected financial information with respect to Navitas; (viii) risks related to the rollout of Navitas' business and the timing of expected business milestones; (ix) the effects of competition on Navitas' business; (x) the amount of redemption requests made by Live Oak II's public stockholders; (xi) the ability of Live Oak II or the combined company to issue equity or equity-linked securities in connection with the proposed transaction or in the future; and (xii) those factors discussed in Live Oak II's registration statement on Form S-4 (File No. 333-256880) filed with the Securities and Exchange Commission (the "SEC") on September 10, 2021 (the "Registration Statement") and Live Oak II's final prospectus filed with the SEC on December 4, 2020 under the heading "Risk Factors" and other documents of Live Oak II filed, or to be filed, with the SEC.
