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 that U.S. Senate Majority Leader Charles E. Schumer recently toured Akoustis’ semiconductor fab in Upstate New York with Akoustis founder and CEO, Jeff Shealy, Co-Chairman of the Board, Jerry Neal, and Director, Suzanne Rudy.
The recently passed bipartisan Chips and Science Act of 2022 (“CHIPS Act”) legislation was introduced by New York Senator Schumer to boost U.S. competitiveness with foreign competitors, including China, by allocating billions of dollars toward domestic semiconductor manufacturing and science research. Senator Schumer expects the CHIPS Act “will help build more resilient domestic supply chains to help lower costs for families, address inflation, and strengthen national security by manufacturing more microchips in America.”
Akoustis senior management has worked closely with the local, regional, and state government of New York, along with Senator Schumer’s office to support the passage of the Act, which will present a significant opportunity for the revitalization of Upstate New York’s semiconductor presence, and in particular, the greater Rochester area, where Akoustis’ manufacturing facility is located.
The CHIPS Act includes more than $52 billion for U.S. companies producing computer chips, as well as billions more in tax credits to encourage investment in semiconductor chip manufacturing. It also provides billions of dollars to fund scientific research and to spur the innovation and development of other U.S. technologies.
Jeff Shealy, founder and CEO of Akoustis, stated, “We were honored to have Senate Majority Leader Charles Schumer return to our New York semiconductor fab for an expanded tour as he championed the introduction and passage of the CHIPS Act. We believe Akoustis fits perfectly as part of Senator Schumer’s ‘blueprint to make New York a Global Innovation & Semiconductor Hub.’”
Mr. Shealy added, “As Akoustis solely manufactures its semiconductor products in the United States, we should be an ideal candidate for funding from the CHIPS Act. Such funding could position Akoustis to manufacture and deliver billions of XBAW® RF filter chips annually and position us to service both tier 1 and tier 2 mobile companies for 5G smartphones, as well as other end markets including 5G networks, high-frequency Wi-Fi devices, and other wireless markets.”
Akoustis began manufacturing its silicon chips in Canandaigua, NY five years ago, through a partnership with local, regional, state, and federal representatives from the State of New York. All of its RF filter wafers are made in Upstate New York – in the United States of America. Since acquiring this facility five years ago, Akoustis has invested over $65 million dollars in upgrades and new equipment and has more than tripled its number of high-paying jobs in the Finger Lakes region.
Akoustis is currently ramping commercial production and is investing to achieve annual production capacity of approximately 500 million units. Akoustis is actively delivering volume production of its Wi-Fi 6 and Wi-Fi 6E tandem filter solutions, shipping multiple 5G small cell XBAW® filter solutions and delivering initial designs of its new 5G mobile filter solutions to multiple customers. To date, Akoustis has received more than 20 customer design wins for its patented XBAW® filter solutions.