Akoustis Ships Second XBAW Filter Design in Company’s New Wafer-Level Package to Tier 1 5G Mobile Customer

Akoustis, Inc.

Akoustis, Inc.

  • New advanced and exclusive company wafer-level packages developed and manufactured in-house

  • Second of two filters under development for Tier 1 customer for 5G mobile/Wi-Fi coexistence for application in 5G smartphones and other wireless devices

  • Akoustis plans to ramp up production of the first filter in early 23

Charlotte, North Carolina, May 02, 2022 (GLOBE NEWSWIRE) — Akoustis Technologies, Inc. (NASDAQ: AKTS) (“Akoustis” or the “Company”), an integrated device manufacturer (IDM) of patented bulk acoustic wave (BAW) high-bandwidth RF filters for mobile and other applications Wireless, today announced that it has shipped the second of two filters currently under development for a multi-billion dollar Tier 1 5G mobile RF component OEM customer. Akoustis also received a purchase order to optimize the previously produced first filter design.

Both filters are under development to solve difficult 5G/Wi-Fi coexistence issues in the mid and ultra-high bands and are being considered for customer use in filter modules for smartphones, tablets, wearables and other 5G mobile devices.

The recently shipped filter uses the company’s new proprietary Wafer-Level Package (WLP) technology. In response to global supply chain challenges, Akoustis has been developing proprietary WLP technology at its New York facility for the past year and rapidly expanding manufacturing capacity to target the 5G mobile device market with its XBAW™ filtering products. The company plans to ramp up commercial production of the first filter for this Tier 1 RF OEM customer using the new advanced WLP from the start of CY23.

Jeff Shealy, Founder and CEO of Akoustis, said, “This is the first shipment of XBAW™ filters that utilizes our new proprietary wafer-level packages that we developed and manufacture at our New York facility. . Mr. Shealy continued, “This is a significant achievement from our design and manufacturing teams and positions Akoustis to enter the 5G smartphone and mobile device market, our largest addressable filter market in terms of volume and turnover.

Akoustis is actively providing volume production of its Wi-Fi 6 tandem filtering solutions, shipping several 5G small cell XBAW™ filtering solutions, providing initial designs of its new 5G mobile filtering solutions to several customers, and has entered on the market with its new 6E Coexistence XBAW™ Wi-Fi Filtering Solutions. To date, Akoustis has received over 20 customer designs for its patented XBAW™ filter solutions.

Given the rapid growth in sales funnel activity as well as continued interaction with customers regarding expected ramps in 5G mobile, Wi-Fi 6 and Wi-Fi 6E over the timeline 2022, the company increases the annual production capacity of its New York plant to approximately 500 million filters per year.

About Akoustis Technologies, Inc.

Akoustis® (http://www.akoustis.com/) is a high-tech BAW RF filter solutions company that is at the forefront of next-generation materials science and MEMS wafer manufacturing to meet market demands for improved RF filters – targeting higher bandwidth, higher operating frequencies, and higher output power compared to the in-place polycrystalline BAW technology deployed today. The Company uses its proprietary and patented technology XBAWMT manufacturing process to produce mass acoustic wave RF filters for the mobile and other wireless markets, which facilitate signal acquisition and accelerate band performance between the antenna and the digital back-end. Superior performance is driven by significant advances in polycrystalline, high-purity, and single-crystal piezoelectric materials and resonator filter processing technology that allows optimal trade-offs between critical performance specifications for power, frequency, and bandwidth .

Akoustis plans to serve the rapidly growing multi-billion dollar RF filter market using its integrated device manufacturer (IDM) business model. The company owns and operates a 120,000 square foot ISO-9001:2015 registered commercial wafer manufacturing facility located in Canandaigua, NY, which includes a Class 100/Class 1000 clean room – equipped for 150mm diameter wafers – for the design, development, manufacture and packaging of RF filters, MEMS and other semiconductor devices. Akoustis Technologies, Inc. is headquartered in the Piedmont Technology Corridor near Charlotte, North Carolina.

Forward-looking statements

This document contains “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, each as amended, which are intended to be covered by the “safe harbor” created by these sections. These forward-looking statements include, but are not limited to, statements about our estimates, expectations, beliefs, intentions, plans or strategies for the future (including our possible future results of operations, business strategies, competitive position, our potential growth opportunities, our market opportunities and the effects of competition), the expected benefits of the acquisition of RFMi and the supply agreement with Tai-Saw, including estimated synergies and other financial impacts , and the assumptions underlying these statements. Forward-looking statements include all statements that are not historical facts and are generally identified by the use of words such as “may”, “could”, “would”, “shall”, “should”, “could”, “project”, “expect”, “plan”, “strategy”, “anticipate”, “try”, “develop”, “help”, “believe”, “think”, “estimate”, “predict” , “intend”, “plan”, “seek”, “potential”, “possible”, “continue”, “future”, and similar words (including the negative of all of the above), although certain forward-looking statements may be expressed differently. Forward-looking statements are neither historical facts nor assurances of future results, performance, events or circumstances. Instead, these forward-looking statements are based on management’s current beliefs, expectations and assumptions and are subject to risks and uncertainties. Factors that could cause actual results to differ materially from those currently anticipated include, but are not limited to, risks relating to our ability to obtain adequate financing and maintain our status as a going concern; our limited operating history; our inability to generate revenue or achieve profitability; the results of our research and development activities; our inability to achieve market acceptance of our products; the possibility that the anticipated benefits of business acquisitions (including the acquisition of RFMi) may not be realized in full or at all or may take longer to be realized than expected; the possibility that the costs or difficulties of integrating the businesses of the acquired businesses (including those of RFMi) may be greater than anticipated and the possibility of disruptions to our business during integration efforts and time constraints and management resources; the impact of a pandemic or epidemic or natural disaster, including the COVID-19 pandemic, on our operations, financial condition and the global economy, including its impact on our ability to access capital markets; general economic conditions, including industry upturns and downturns; shortages of supplies needed to manufacture our products or needed by our customers to manufacture devices incorporating our products; our limited number of patents; failure to obtain, maintain and enforce our intellectual property rights; claims for infringement, misappropriation or misuse of third party intellectual property which, regardless of merit, could result in substantial expense and loss of our intellectual property rights; our inability to attract and retain qualified personnel; our reliance on third parties to carry out certain processes related to the manufacture of our products; product quality and defects; existing or increased competition; our ability to successfully manufacture, market and sell products based on our technologies; our ability to meet required customer specifications and achieve qualification of our products for commercial manufacture on a timely basis; our ability to successfully scale our New York wafer fab and related operations while maintaining quality control and assurance and avoiding production delays; the rate and degree of market acceptance of any of our products; our ability to secure winning designs from current and future customers; enter into contracts with customers and other parties with greater bargaining power and agree to terms and conditions that may adversely affect our business; risks associated with doing business in foreign countries, including China; any security breaches, cyber-attacks or other disruptions that compromise our proprietary information and expose us to liability; our inability to innovate or adapt to new or emerging technologies; our failure to comply with regulatory requirements; the results of any arbitration or litigation that may arise; the volatility and illiquidity of the shares; dilution caused by any future issuance of common stock or securities convertible or exercisable into common stock; our failure to implement our business plans or strategies; and our ability to maintain effective internal control over financial reporting. These and other risks and uncertainties are described in more detail in the Risk Factors and Management’s Discussion and Analysis of Financial Condition and Results of Operations sections of the Company’s most recent Annual Report on Form 10- K and in subsequently filed quarterly reports on Form 10-Q Given these risks, uncertainties and assumptions, the forward-looking statements regarding the future events and circumstances discussed herein may not occur, and actual results could differ materially. and adversely from those anticipated or implied by the forward-looking statements. You should not rely on forward-looking statements as predictions of future events. The forward-looking statements included herein speak only as of the date hereof and, except as required by law, we undertake no obligation to publicly or privately update any forward-looking statements, whether written or oral for any reason after the date of this document to conform such statements to new information, actual results or changes in our expectations.

CONTACT: COMPANY: Tom Sepenzis Akoustis Technologies VP of Corporate Development & IR (980) 689-4961 tsepenzis@akoustis.com

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