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Presented numbers for Q1 yesterday.
@CWL1 did you look at them?
Here are a few comments :
"However, the power electronics and photonics markets offer promising opportunities for growth. In power electronics, we're focused on GaN with our legacy MOCVD technology and with CVD silicon carbide, which we recently acquired.
Integration of the acquired CVD technology is progressing well with our system expected to be demo ready in the second half of 2023. Our system represents a significant opportunity for a differentiated solution to address growing power electronics demand in the electric vehicle market.
Our epitaxi equipment to address micro LED applications continues to display promising long-term growth potential. We're making ongoing investments in this area, including R&D, supporting customer demos and evaluations to penetrate these market opportunities."
Sounds to me that tehy are leaps and bounds behind Aixtron in both SiC and MicroLED.
Gus Richard Yes. Just in terms of MOCVD and GaN, I know you've had an evaluation system out there for a while in Asia. And I think you've been talking to customers about MOCVD for GaN. And I was just wondering if you could kind of give us an update on what you're seeing in that market? And what's the opportunity over the next 12 to 18? William Miller Yes. We do have an evaluation system for GaN power electronics. It's for the transition from 6-inch to 8-inch. The product is running, and we're in a competitive situation there. Our customers asked us to extend that evaluation through this year, which we are going to do. And so it's a little slower taking off than we had originally planned, and we're still working on it. I would say we probably won't see any meaningful gain on silicon power activity beyond where we are today until the 2024 time frame. That being said, we also have GaN on silicon for micro LED, where we're working with a few customers on opportunities there. and that continues to develop as well for GaN silicon.
David Duley Okay, a little bit topics to silicon carbide. You've made this acquisition. And I thought you've talked about, if I'm not mistaken, having a demo later just late this calendar year. Could you help us understand the size, the market opportunity that you're chasing in the silicon carbide marketplace? And who the key competition is for this deposition tool I guess, that you're talking about? William Miller Yes. So according to the they're sizing the silicon carbide device market at $2 billion going to about $6 billion in 2027, and the corresponding epitaxi equipment market is about $250 million these days going to about $0.5 billion by 2027. There are a few participants in that market today, namely ASMI. And then New Flare and AXtRoNore (wahrscheinlich ist Aixtron gemeint) competitors in that space? David Duley Okay. And -- was it accurate that you will have a demo later this year? And then when would you expect to have, I guess, meaningful revenue from this particular opportunity? William Miller Yes. Thanks for reminding me the first half of your question. I would say right now, we are shipping our demo tool from Sweden to our demo lab in Somerset, New Jersey. As we speak, we're going to be facilitizing it. And our plan is to be demo ready in the second half of the year. We've met with a number of the Tier 1 and Tier 2 players in this market. They're all very excited about the acquired technology with our worldwide service footprint is very intriguing to them. And so we're pretty much at the key milestone of having to have the demo tool put down films that can be measured and sent to our customers. And then we would expect to have eval systems for some Tier 1s in 2024 and then also start selling directly to some Tier 2 customers as well. So I think we're planning for some modest revenue in '24, but I wouldn't think -- I think we have more meaningful revenue in 2025. David Duley Okay. And -- thanks for giving the competitive layout. Who would you say is the leader in this space now? And I would imagine you're going to have to show a fairly significant cost of ownership advantage versus whoever that leader is, what would be the key reasons that you can show a superior cost of ownership? William Miller There's -- the market actually varies pretty significantly by region or what tier. So we do understand cost of ownership is critical as well as yield, and yield plays a big part in that. And so from our discussions with our customers, they do see an opportunity for us to have a cost of ownership advantage of what's available in the market today.
Gruß
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