Akoustis Ships Second XBAW Filter Design in Company’s New Wafer-Level-Package to Tier-1 5G Mobile Customer

• Company’s New, Advanced, and Proprietary Wafer-Level-Packages Developed and Manufactured In-House
• Second of Two Filters Under Development for Tier-1 Customer for 5G Mobile/Wi-Fi Coexistence for Application in 5G Smartphones and Other Wireless Devices
• Akoustis Expects to Ramp Production of First Filter in Early CY23

Charlotte, N.C., May 02, 2022 (GLOBE NEWSWIRE) -- Akoustis Technologies, Inc. (NASDAQ: AKTS) (“Akoustis” or the “Company”), an integrated device manufacturer (IDM) of patented bulk acoustic wave (BAW) high-band RF filters for mobile and other wireless applications, announced today that it has shipped the second of two filters which are currently in development for a multi-billion-dollar tier-1 5G mobile RF component OEM customer. Akoustis also received a purchase order to optimize the previously produced first filter design. 

The two filters are being developed to address difficult 5G/Wi-Fi coexistence issues in the mid and ultra-high bands and are being considered for use by the customer in filter modules for 5G smartphones, tablets, wearables and other mobile devices.

The recently shipped filter uses the Company’s new proprietary wafer-level-package technology (WLP). In response to global supply chain challenges, Akoustis has been developing proprietary WLP technology in its New York facility for the past year and is rapidly growing its manufacturing capacity to target the 5G mobile device market with its XBAW™ filter products. The Company expects to ramp commercial production of the first filter for this tier-1 RF OEM customer using the new, advanced WLP beginning in early CY23.

Jeff Shealy, founder and CEO of Akoustis, stated, “This is the first shipment of XBAW™ filters that utilizes our new proprietary wafer-level-packages that we have developed and are manufacturing in our New York facility.”  Mr. Shealy continued, “This is a significant achievement by our design and manufacturing teams and positions Akoustis to enter the 5G mobile smartphone and device market, our largest addressable filter market by both volume and revenue.”

Akoustis is actively delivering volume production of its Wi-Fi 6 tandem filter solutions, shipping multiple 5G small cell XBAW™ filter solutions, delivering initial designs of its new 5G mobile filter solutions to multiple customers and has entered the market with its new Wi-Fi 6E coexistence XBAW™ filter solutions. To date, Akoustis has received more than 20 customer design wins for its patented XBAW™ filter solutions.

Given the rapidly growing sales funnel activity as well as ongoing interaction with customers regarding expected ramps in 5G mobile, Wi-Fi 6 and Wi-Fi 6E in calendar 2022, the Company is increasing the annual production capacity at its New York fab to approximately 500 million filters per year.

About Akoustis Technologies, Inc.

Akoustis^® (http://www.akoustis.com/) is a high-tech BAW RF filter solutions company that is pioneering next-generation materials science and MEMS wafer manufacturing to address the market requirements for improved RF filters - targeting higher bandwidth, higher operating frequencies and higher output power compared to incumbent polycrystalline BAW technology deployed today. The Company utilizes its proprietary and patented XBAW^TM manufacturing process to produce bulk acoustic wave RF filters for mobile and other wireless markets, which facilitate signal acquisition and accelerate band performance between the antenna and digital back end. Superior performance is driven by the significant advances of poly-crystal, high-purity and single-crystal piezoelectric materials and the resonator-filter process technology which enables optimal trade-offs between critical power, frequency and bandwidth performance specifications. 

Akoustis plans to service the fast growing multi-billion-dollar RF filter market using its integrated device manufacturer (IDM) business model. The Company owns and operates a 120,000 sq. ft. ISO-9001:2015 registered commercial wafer-manufacturing facility located in Canandaigua, NY, which includes a class 100 / class 1000 cleanroom facility - tooled for 150-mm diameter wafers - for the design, development, fabrication and packaging of RF filters, MEMS and other semiconductor devices. Akoustis Technologies, Inc. is headquartered in the Piedmont technology corridor near Charlotte, North Carolina.

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These and other risks and uncertainties are described in more detail in the Risk Factors and Management’s Discussion and Analysis of Financial Condition and Results of Operations sections of the Company’s most recent Annual Report on Form 10-K and in subsequently filed Quarterly Reports on Form 10-Q. Considering these risks, uncertainties and assumptions, the forward-looking statements regarding future events and circumstances discussed in this document 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 document 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, whether written or oral, for any reason after the date of this document to conform these statements to new information, actual results or to changes in our expectations.

COMPANY:
Tom Sepenzis
Akoustis Technologies
VP of Corporate Development & IR
(980) 689-4961
tsepenzis@akoustis.com