Silex subsidiary Translucent Inc developed a novel set of semiconductor materials known as ‘crystalline Rare Earth Oxides’ (cREOTM) for application to the manufacturing of next generation semiconductor devices used in wireless communications, power electronics and other advanced semiconductor industries. The cREOTM technology was purchased by UK-based IQE (AIM:IQE) in early 2018, in accordance with the 2015 Option, License and Assignment Agreement between Translucent and IQE. As a result, payment of US$5 million was received in September 2018 (in IQE stock). In addition, a perpetual royalty of between 3% and 6% will be payable to Translucent on the sale of any IQE products that utilise the cREOTM technology, with minimum annual royalties expected to commence being paid in FY2020.
ENABLING NOVEL COMPOUND MATERIALS ON SILICON
In September 2015 IQE announced that it had signed an agreement for the exclusive licence of Translucent's unique and innovative crystalline Rare Earth Oxide (cREO™) technology along with an option to subsequently acquire the technology. Translucent's cREO™ technology offers a unique approach to the manufacture of a wide range of innovative CS on Silicon products, including GaN on Si for the burgeoning Power Switching and RF markets.
The technology is protected by a wide ranging IP portfolio consisting of 74 granted patents, and 13 additional patent applications.
The cREO™ technology provides a unique buffer or interface layer to integrate GaAs, InP, GaN and other Compound Semiconductors with Silicon, allowing the potential of producing compound semiconductor epitaxial layers on lower cost Si wafers up to 300mm diameter and opening up the possibility of integrating CS performance and functionality with existing CMOS processing capabilities for true next-generation system-on-chip devices.
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