Faster data communication requires higher frequencies. Higher frequencies lead to lower efficiency.
The solution is new semiconductor materials. Gallium Nitride is advancing in both radio communication and power applications. SweGaN produce QuanFINE a patented novel Gallium Nitride structure.
The advantage of QuanFINE is that you get higher efficiency at no additional manufacturing cost. This is achieved by removing one process step and make the epi-material thinner.
There are other manufacturers of Gallium Nitride and other types of Gallium Nitride. However SweGaN offer the highest performance with without adding cost.
The open world market of GaN epiwafers for radio frequencies, (which is one of SweGaNs target markets) calcis expected to grow to over 120 thousand epiwafers in the coming years. The average sales price for a QuanFINE epiwafer is close to 30kSEK and we are aiming for a substantial part of that market.
Today SweGaN mainly have customers that aim for the defense and satellite market, but we are approaching the radio base station market which we believe will be the big volume market for our epiwafers.
SweGaN is a spinoff from Linköping University and has today 13 employees. We have 20+ paying customers which include 3 major foundries and 4 major device manufacturers.
Our customers are today buying epiwafers from us for internal testing. The next step is to get qualified for volume production.
In order to get larger volume orders, we must show credible plans for upscaling and redundancy. Therefore, we seek investment capital that will be combined with bank loans to scale the production capacity.
We have just brought in 10MSEK from the current owners in a round that is still open. And we are aiming at closing a larger round during the summer.