Advanced Power Technology & Northrop Grumman Enter into Silicon Carbide License Agreement
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Next Generation Chip Technology for Power Electronics in Military and Commercial
Applications Ranging from Radar to Hybrid Vehicles
Bend, Oregon, February 22, 2006 - Advanced Power Technology, Inc. (NASDAQ:
APTI), a leading supplier of high performance power semiconductors announced today that
the company has entered into a license agreement with the Electronic Systems' sector of
Northrop Grumman Corporation (NYSE:NOC) to manufacture next-generation silicon
carbide ("SiC") microelectronic devices.
This agreement forms an exclusive foundry supplier relationship whereby Northrop
Grumman will license certain SiC technology to Advanced Power Technology including
relevant SiC patents and manufacturing methods to enable Advanced Power Technology to
manufacture proprietary high performance SiC microelectronic devices exclusively for
Northrop Grumman.
In addition, the agreement allows Advanced Power Technology to use the licensed
technology to manufacture and sell other high performance SiC devices for commercial
purposes. Both companies possess substantial expertise in SiC technology and view SiC
based power semiconductors as strategically important to a wide array of next generation applications.
The driving force for the adoption of silicon carbide for military as well as civilian
applications is the need to reduce weight and size of power control and management systems and their associated support equipment, in particular cooling systems and heat dispersing packaging. SiC semiconductors have demonstrated large performance advantages in numerous test beds over the most advanced silicon components.
Military applications include radar, hybrid power systems, electric power control and
distribution, electronic jamming, and wideband communications systems.
Potential non-military applications that can benefit from silicon carbide's military-level performance include hybrid vehicles, electric power transmission, computer/servers, medical systems, and alternative energy.
Russell Crecraft, Advanced Power Technology's Executive Vice President and Chief
Operating Officer stated, "We are very pleased to enter into a long term contractual
relationship with a world class company such as Northrop Grumman. The development of
SiC products for both Switchmode and RF power conversion applications has been and
continues to be a key strategic initiative for Advanced Power Technology. We expect this new relationship with Northrop Grumman to substantially accelerate our progress towards becoming the leading supplier of SiC power semiconductor products. Combining the expertise of both companies will allow APT to provide leading edge devices built with the highest level of SiC technology."
"Advanced Power Technology brings a solid track record of producing proprietary devices," said Jack Hawkins, Director of the Advanced Materials & Semiconductor Device
Technology Center for Northrop Grumman's Electronic Systems sector. "We're looking
forward to working together on this next generation of SiC technology."
The agreement comes at a time when Advanced Power Technology is in the process of being
acquired by Microsemi Corporation. Steve Litchfield, Microsemi's Vice President of
Business Development, stated "Advanced Power Technology's Silicon Carbide Strategy and
capabilities were an important element in our decision to acquire the company. We look
forward to participating with them in a very successful relationship."
About Advanced Power Technology:
With operations in Bend, Oregon, Santa Clara, California, Montgomeryville, Pennsylvania, Boulder, Colorado and Bordeaux France, Advanced Power Technology is a leading supplier of power semiconductors for RF, Microwave, Linear, and Switchmode Applications. For additional information on Advanced Power Technology, visit its website at www.advancedpower.com.
About Northrop Grumman Corporation:
Northrop Grumman Corporation is a global defense company headquartered in Los Angeles,
Calif. Northrop Grumman provides a broad array of technologically advanced, innovative
products, services and solutions in systems integration, defense electronics, information technology, advanced aircraft, shipbuilding, and space technology. The company has more than 125,000 employees and operates in all 50 states and 25 countries and serves U.S. and international military, government and commercial customers. For more information on Northrop Grumman visit its web site at www.northropgrumman.com
About Microsemi Corporation:
Microsemi Corporation is global supplier of semiconductors specializing in systemengineered integrated circuits and high reliability discrete devices. For additional information on Microsemi Corporation, visit its website at www.microsemi.com.
About the Acquisition:
Microsemi Corporation has filed a registration statement (including a prospectus) with the SEC for the issuance of Microsemi shares to APT shareholders in connection with the
acquisition of APT The prospectus in that registration statement, and the other documents Microsemi has filed with the SEC in connection with that registration statement contain additional material information about APT, Microsemi, and the terms of the acquisition. You may get these documents for free by visiting EDGAR on the SEC Web Site at www.sec.gov. Alternatively, you may request Microsemi to send you the prospectus by calling 949-221-7101.
APT Company Contact:
Greg M. Haugen
Vice President, Finance and Administration and CFO
Tel: (541) 382-8028
Fax: (541) 389-1241
E-Mail: ir@advancedpower.com
MSCC Company Contact:
David R. Sonksen
Executive Vice President and CFO
Tel: (949) 221-7101
Fax: (949)756-2602
