IQE Regulatory News (IQE)

IQE plc

Solar Junction surpasses its previous World-Record with certified 44.1% cell efficiency on IQE's production qualified wafers.

Cardiff, UK. 22 August 2013: IQE plc (AIM: IQE; "IQE", "the Group") announces that its high-volume, production qualified material has been independently certified as achieving 44.1% cell efficiency by the National Renewable Energy Laboratory (NREL), surpassing Solar Junctions previous World Record for a standard triple junction CPV cell.

The wafers, produced using IQE's high-volume MBE tools, were processed by IQE's strategic partner Solar Junction Corporation ("Solar Junction"), a developer of high efficiency multi-junction solar energy cells for the concentrated photovoltaic (CPV) market. The standard three-junction solar cells are believed to set a new world record for production scale CPV wafer technology and demonstrate improved efficiency over Solar Junction's previous World Record reported in October 2012.

Vijit Sabnis, CEO at Solar Junction said:

"Breaking a World Record is a major achievement, but improving on our most recent record using high-volume production equipment produced in conjunction with our manufacturing partner IQE, and Solar Junction's fabrication line in Sunnyvale, CA, is dramatically more significant. This result is a testament to our close partnership with IQE, Solar Junction's dilute nitride technology and our exceptional team. We continue to be the benchmark for multi-junction solar cell production efficiency to assist our customers in driving CPV costs down."

Dr. Drew Nelson, IQE Chief Executive, said:

"Following our recent announcement of full qualification of our high volume 4" and 6" CPV technology, surpassing Solar Junction's previous cell efficiency record is a massive achievement.

"Improvements in CPV cell efficiencies translate to highly significant overall cost reduction in terms of installation and energy generation in utility scale solar farms. The fact that this has been achieved on production qualified platforms is a major milestone. Furthermore, the transfer of wafer production to IQE's manufacturing tools enables the Solar Junction team to focus on further improving efficiencies on lattice-matched, multi-junction CPV solar cells using a combination of their unique dilute nitride technology, combined with pre existing IQE IP. This will facilitate seamless technology transfer into high volume manufacture of ultra efficient CPV cells as the conversion efficiency improves further."

Contacts:

IQE plc+44 (0) 29 2083 9400Drew NelsonPhil RasmussenChris MeadowsCollege Hill+44 (0) 20 7457 2020Adrian DuffieldKay LarsenEspirito Santo Investment Bank+ 44 (0) 20 7456 9191Alastair MaclachlanCanaccord Genuity+44 (0) 20 7523 8000Simon BridgesCameron Duncan

NOTE TO EDITORS

ABOUT IQE 

www.iqep.com

IQE is the leading global supplier of advanced semiconductor wafers with products that cover a diverse range of applications, supported by an innovative outsourced foundry services portfolio that allows the Group to provide a 'one stop shop' for the wafer needs of the world's leading semiconductor manufacturers.

IQE uses advanced crystal growth technology (epitaxy) to manufacture and supply bespoke semiconductor wafers ('epiwafers') to the major chip manufacturing companies, who then use these wafers to make the chips which form the key components of virtually all high technology systems. IQE is unique in being able to supply wafers using all of the leading crystal growth technology platforms.

IQE's products are found in many leading-edge consumer, communication, computing and industrial applications, including a complete range of wafer products for the wireless industry, such as mobile handsets and wireless infrastructure, Wi-Fi, WiMAX, base stations, GPS, and satellite communications; and optical communications.

The Group also manufactures advanced optoelectronic and photonic components such as semiconductor lasers, vertical cavity surface emitting lasers (VCSELs) and optical sensors for a wide range of applications including optical fibre communications, optical storage (CD, DVD, BluRay), thermal imaging, leading-edge medical products, pico-projection, finger navigation ultra-high brightness LEDs, and high efficiency concentrated photovoltaic (CPV) solar cells.

The manufacturers of these chips are increasingly seeking to outsource wafer production to specialist foundries such as IQE in order to reduce overall wafer costs and accelerate time to market.

IQE also provides bespoke R&D services to deliver customised materials for specific applications and offers specialist technical staff to manufacture to specification either at its own facilities or on the customer's own sites. The Group is also able to leverage its global purchasing volumes to reduce the cost of raw materials. In this way, IQE's outsourced services, provide compelling benefits in terms of flexibility and predictability of cost, thereby significantly reducing operating risk.

IQE operates a number of manufacturing and R&D facilities across Europe, Asia and the USA. The Group also delivers its products and services through regional sales offices located in major economic centres worldwide.

ABOUT Solar Junction 

www.sj-solar.com

Solar Junction is a manufacturer of high efficiency III-V multi-junction solar cells based on dilute-nitride materials. The company is dedicated to providing the industry's highest efficiency solar cells to enable CPV as a cost effective energy solution. Founded in 2007, Solar Junction is headquartered in San Jose, California. Investors include New Enterprise Associates, Draper Fisher Jurvetson, Advanced Technology Ventures, and IQE.