Navitas Semiconductor Unveils Growth and GaN/SiC Tech Innovations
19-12-2023 | By Jack Pollard
Navitas Semiconductor, a trailblazer in next-generation power semiconductors and a global leader in gallium nitride (GaN) power ICs and silicon carbide (SiC) technology, celebrated a milestone with an Opening Ceremony and 2023 Investor Day at its new Torrance headquarters on December 12th.
Keynote Highlights and Growth Recap
The event, graced by Torrance Mayor George Chen and Dustin McDonald from the California Governor’s Office, marked the inauguration of Navitas' new base of operations as CEO and co-founder Gene Sheridan cut the ribbon. Around 100 highly skilled Navitas staff are employed in Torrance for all aspects of GaN and SiC design, applications, test, characterisation and quality plus finance, marketing and HR. Further team growth is planned for 2024, including a $20M investment to add SiC epi-growth capability for strategic manufacturing expansion.
Electrification Market Opportunity
Highlighting Navitas' mission to 'Electrify Our World™,' Mr. Sheridan presented a recap of the year's achievements, including doubling revenue, securing a $92M capital raise, and launching four major new technology platforms. He underscored the $1.3T potential in the electrification market, propelled by Navitas' GaN and SiC technologies fostering a shift to a carbon-neutral, fully electrified world.
Innovations in GaN and SiC Technology
Chief Operating Officer and Co-founder Dan Kinzer introduced technology platforms including Gen-4 GaNSense half-bridges for motor drive and mobile fast chargers, GaNSafe – the world’s most protected GaN powertrain, GaNSense Control, and a revolutionary new bi-directional GaN power IC platform with up to 9x smaller chip size than legacy silicon MOSFETs or IGBTs. Sid Sundaresan, SVP for the GeneSiC product line added more detail on the Gen-3 Fast SiC platform.
Customer Engagement and Market Impact
The Investor Day also spotlighted Navitas' significant customer engagement, with David Carroll, SVP Worldwide Sales, announcing that the pipeline had increased by 65% to $1.25B, with 10/10 top mobile OEMs and majority of solar inverter makers. Investors also heard from the voices of Navitas customers, including Rick Liu from Accopower for EV, Belkin’s Steve Malony for mobile, Philipp Guo from VREMT for EV, Adam Weissman from Anker for mobile, and Harron Inam from DG Matrix for EV roadside charging.
Financial Health and Future Targets
Ron Shelton, CFO of Navitas, shared insights into the company's robust financial health, marked by increased gross margins and a debt-free status, affirming the goal to expand at a rate 6-10 times faster than the market with 50%+ gross margins.
Tour of Navitas Facilities and Upcoming Events
In-person visitors then toured the Navitas facility, including past & present demos and the ‘Electrify Studio’ experience - where Navitas is creating a vision for our electrified planet – plus SiC design, GaN IC design, applications, test & characterisation, quality & reliability.
The day concluded with a celebration at the Crypto.com Arena, where guests enjoyed the LA Clippers' victory—a fitting finale to a day filled with inspiration, innovation, and collaboration.
Looking Ahead: CES and Needham Growth Conference
Future engagements for Navitas include appearances at the CES in Las Vegas (January 9th-11th) and the Needham Growth Conference in New York (January 17th).
Comprehensive Investor Day material is available via the Navitas website, with presentation slides, and complete video playback of the main presentations, customer testimonials, and facility tour.
