Charlotte, N.C., Jan. 26, 2017 (GLOBE NEWSWIRE/KOREA IT TIMES) -- Akoustis Technologies, Inc. (OTCQB: AKTS) (“Akoustis” or the “Company”), a manufacturer of patented single-crystal BulkONE™ bulk acoustic wave (BAW) high-band RF filters for mobile and other wireless applications, announced today the receipt of a $0.15M Small Business Innovation Research (SBIR) Phase II supplemental grant from the National Science Foundation (NSF). The grant was based on the results achieved through the Company’s previously awarded Phase II grant, as well as scientific and technical merit and commercial potential of the Company’s BAW filter technology.
The TECP grant award is an extension of the Phase II grant awarded to Akoustis in February 2016 and increases the total funding from NSF to $1.1 million. Further, this TECP award allows Akoustis to apply for up to $0.5M in additional non-dilutive matching funds from NSF as part of a Phase IIb application, which the Company anticipates submitting later this year. This funding will be used to continue development of the Company’s BulkONE™ band-specific LTE BAW filters - targeting the fast growing multi-billion dollar mobile wireless market. Akoustis has identified and received commercial support from leading Tier 1 RF Front End Module (FEM) manufacturers to evaluate these BAW filters for potential adoption in their platforms.
“Akoustis is pleased to continue its partnership with NSF to develop and commercialize our single crystal BulkONE™ technology”, said Jeff Shealy, CEO of Akoustis Technologies, Inc. “The goal of the TECP award is to advance our Phase II research and accelerate adoption of our innovative and patented technology in the mobile wireless market,” added Mr. Shealy.
Akoustis is pioneering next-generation material science to address the market requirements for improved RF filters - targeting higher bandwidth, higher operating frequencies and higher output power as compared to conventional polycrystalline BAW technology deployed today. Superior performance is driven by the significant advances made in the single-crystal piezoelectric materials and the resonator-filter process technology. The piezoelectric constant and material composition drive electro-mechanical coupling, which enables higher filter bandwidth. In the case of operating frequency, high sound velocity in high-purity piezoelectric materials allows signals to propagate faster in the RF filter. The Company’s single-crystal piezoelectric materials offer high-thermal conductivity along the path of heat flow, greatly improving the high-power handling capability of the RF filter.
Akoustis continues to meet with multiple design clients and potential strategic partners to share its single-crystal resonator and RF filter results.
Akoustis™ (http://www.akoustis.com) is a high-tech RF filter solutions company that manufactures its unique, patent-pending BulkONE™ technology to produce single-crystal bulk acoustic wave (BAW) filters for the mobile-wireless industry and beyond, which facilitate signal acquisition and accelerate band performance between the antenna and digital back end. Its BulkONE™ technology will service the fast growing multi-billion dollar market of device OEMs, network providers, and consumers to diminish Front End phone heat, battery drain and signal loss -- all considered to be directly related to current RF polycrystalline filter technologies' limitations. Akoustis’ capital-efficient business model leverages existing investments in manufacturing infrastructure within the semiconductor industry. Akoustis™ is located in the Piedmont technology corridor between Charlotte and Raleigh, North Carolina.
Statements in this press release that are not descriptions of historical facts are forward-looking statements that are based on management’s current expectations and assumptions and are subject to risks and uncertainties. In some cases, you can identify forward-looking statements by terminology including “anticipates,” “believes,” “can,” “continue,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “should,” “will,” “would” or the negative of these terms or other comparable terminology. Factors that could cause actual results to differ materially from those currently anticipated include, without limitation,
- risks relating to the results of our research and development activities, including uncertainties relating to semiconductor process manufacturing;
- the early stage of our BulkONE™ technology presently under development;
- our need for substantial additional funds in order to continue our operations and the uncertainty of whether we will be able to obtain the funding we need;
- our ability to retain or hire key scientific, engineering or management personnel; our ability to protect our intellectual property rights that are valuable to our business, including patent and other intellectual property rights;
- our dependence on third-party manufacturers, suppliers, research organizations, testing laboratories and other potential collaborators;
- our ability to successfully market and sell our technologies;
- the size and growth of the potential markets for any of our technologies, and the rate and degree of market acceptance of any of our technologies;
- competition in our industry; and
- regulatory developments in the U.S. and foreign countries.
In light of these risks, uncertainties and assumptions, the forward-looking statements regarding future events and circumstances discussed in this press release may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. The forward-looking statements included in this presentation speak only as of the date hereof, and, except as required by law, we undertake no obligation to update publicly or privately any forward-looking statements for any reason after the date of this presentation to conform these statements to actual results or to changes in our expectations. The materials do not constitute an offer to sell, or the solicitation of any offer to buy, any securities of Akoustis, or any other entity whatsoever. Any representation to the contrary by any party should be ignored.
Akoustis Contact Information:
VP of Business Development
Main: 704-997-5735, ext. 106
The Del Mar Consulting Group, Inc.
Robert B. Prag, President
Integra Consulting Group LLC
Jeremy Roe, Managing Partner