Intevac, Inc., a leading supplier of thin-film processing systems, announced it has signed a joint development agreement with a major provider of glass and glass ceramic materials.
“For decades, Intevac has provided the materials science expertise and high-productivity manufacturing platforms that have deposited ultra-durable and highly-precise coatings onto several billion glass substrates in the hard drive industry. Our expertise in producing rugged and highly-precise coatings in high-volume manufacturing environments is well-suited to enable mass production of thin film technologies for the consumer device market,” said Nigel Hunton, president and chief executive office of Intevac. “We offer the engineering know-how, manufacturing capacity, and financial footing to deploy our TRIO™ platform on a global scale in support of this new partnership. Today marks a key turning point in the future growth trajectory of Intevac, and we are pleased to announce the completion of the definitive agreement, as promised before year-end 2022.”
Also Read: Pentagon and Lockheed Martin Finalize Lot 15-17 Agreement, Capping a Year of International Growth
While specific details of the terms of the partnership will remain confidential, the definitive agreement signed last week includes a five-year period of exclusivity for this key customer, who will deploy the TRIO™ for consumer electronics applications. In order to maintain exclusivity of the TRIO™ platform for this market, there is a minimum revenue requirement of approximately $100 million in system sales to Intevac over the five-year period. The selling price and gross margin profile of the TRIO™ is similar to that of its flagship 200 Lean® system. Intevac will continue to develop additional customer relationships for the TRIO™ for other glass coating applications, such as in the automotive and point-of-sale display markets.
Intevac’s innovative and proprietary TRIO™ manufacturing platform leverages over three decades of materials science expertise in high-productivity manufacturing environments to integrate the most advantageous qualities and features of both linear vacuum process systems and drum coating systems, delivering a highly flexible and versatile platform for mass production of highly precise and durable coatings. The flexibility offered by TRIO™ is due to its modular and expandable architecture that enables continuous processing of multiple substrates of almost limitless form factors. Utilizing Intevac’s decades of know-how integrating high-productivity transport systems in the hard drive industry that accommodate various-sized substrates and materials, the TRIO™ platform is applicable to multiple end-market thin film coating applications, including consumer devices, automotive, and semiconductor advanced packaging.
SOURCE: Businesswire