PlayNitride Selects Veeco’s Lumina MOCVD System for MicroLED Production Supporting Next Generation Applications

Rhea-AI Summary

Veeco Instruments Inc. (NASDAQ: VECO) announced that PlayNitride, a MicroLED technology leader, has qualified Veeco's Lumina® MOCVD system for MicroLED production and ordered two systems for 2025 delivery. The qualification follows successful system evaluation for applications in wearables, TVs, transparent displays, and automotive.

The Lumina system, featuring Veeco's TurboDisc® technology, offers superior uniformity, brightness, defectivity control, and cost-effectiveness. The system supports high-throughput production with capabilities for depositing arsenic phosphide epitaxial layers on wafers up to eight inches in diameter, suitable for IR-LEDs, Edge-Emitting Lasers, VCSELs, and Solar Cells manufacturing.

Positive

• Secured qualification and two system orders from industry leader PlayNitride
• Systems to be delivered in 2025, indicating future revenue stream
• Validation of Lumina MOCVD technology by major industry player
• Expansion into growing MicroLED market segment

Negative

• None.

PLAINVIEW, N.Y., Dec. 18, 2024 (GLOBE NEWSWIRE) -- Veeco Instruments Inc. (NASDAQ: VECO) today announced that PlayNitride, an industry leader in MicroLED technology, has qualified Veeco’s Lumina^® MOCVD system for production of next-generation MicroLEDs, and also placed an order for two systems for delivery in 2025. PlayNitride’s decision followed a successful evaluation of Veeco’s Lumina^® MOCVD system.

“We’re pleased to partner with Veeco for production and commercialization of our industry-leading MicroLED technology for wearables, TVs, transparent displays and automotive,” stated Dr. Charles Li, CEO & Chairman at PlayNitride. “The Lumina system is uniquely positioned to exceed market requirements by providing best-in-class performance and productivity advantages, each essential in advancing our technology and cost roadmap.”

“Qualification of our Lumina system by PlayNitride, a leading-edge provider of MicroLED technology, is an exciting win for our best-in-class MOCVD technology,” commented Anil Vijayendran, Vice President, MOCVD Product Line Management. “Veeco’s Lumina system is extensively used in high volume manufacturing utilizing the proven performance of our core TurboDisc® technology. Industry leaders such as PlayNitride require solutions enabling excellent uniformity, brightness, defectivity, and unmatched cost of ownership, all of which our Lumina system delivers.”

Core to the Lumina system is Veeco’s industry-leading MOCVD TurboDisc technology, featuring excellent thickness and compositional uniformity and low defectivity for exceptional yield. Veeco’s proprietary technology also supports high-throughput enabled by a clean reactor over long campaigns. Providing a seamless wafer size transition, the system is capable of depositing high quality arsenic phosphide (As/P) epitaxial layers on wafers up to eight inches in diameter. The Lumina system allows users to customize their systems for maximum value in delivering IR-LEDs, Edge-Emitting Lasers, VCSELs, and Solar Cells in high volume production.

About Veeco
Veeco (NASDAQ: VECO) is an innovative manufacturer of semiconductor process equipment. Our laser annealing, ion beam, chemical vapor deposition (CVD), metal organic chemical vapor deposition (MOCVD), single wafer etch & clean and lithography technologies play an integral role in the fabrication and packaging of advanced semiconductor devices. With equipment designed to optimize performance, yield and cost of ownership, Veeco holds leading technology positions in the markets we serve. To learn more about Veeco’s systems and service offerings, visit www.veeco.com.

To the extent that this news release discusses expectations or otherwise makes statements about the future, such statements are forward-looking and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include the risks discussed in the Business Description and Management's Discussion and Analysis sections of Veeco's Annual Report on Form 10-K for the year ended December 31, 2023 and in our subsequent quarterly reports on Form 10-Q, current reports on Form 8-K and press releases. Veeco does not undertake any obligation to update any forward-looking statements to reflect future events or circumstances after the date of such statements.

Veeco Contacts:
Investors: Anthony Pappone | (516) 500-8798 | apappone@veeco.com
Media: Brenden Wright | (410) 984-2610 | bwright@veeco.com

FAQ

What is the significance of PlayNitride's qualification of Veeco's Lumina MOCVD system for VECO?

The qualification validates Veeco's technology in the MicroLED market and secures future revenue through two system orders for 2025 delivery, strengthening VECO's market position.

What applications will PlayNitride use VECO's Lumina MOCVD systems for?

PlayNitride will use the systems for MicroLED production targeting wearables, TVs, transparent displays, and automotive applications.

What are the key technical capabilities of VECO's Lumina MOCVD system?

The system features TurboDisc technology offering superior uniformity, brightness, defectivity control, and can process wafers up to 8 inches in diameter for various applications including IR-LEDs and VCSELs.

When will VECO deliver the Lumina MOCVD systems to PlayNitride?

The two Lumina MOCVD systems are scheduled for delivery to PlayNitride in 2025.