2022-02-14 18:53:52
Trondheim, Norway 14th Feb 2022
CrayoNano (NOTC:CNANO) has executed the first high-volume supplier contract, with an undisclosed manufacturer, for over one million units of UV-C LED packaged chips targeted for the water disinfection market following our controlled market entry plan. The contract also secures long-term capacity ramp-up beyond 10 million units / year manufacturing. This is a strategic partnership to develop CrayoNanos product roadmap according to market and customer requirements.
Supporting the growing demand
The supplier is a specialist in semiconductor packaging technology and will manufacture a customized, high quality and performing package specifically for CrayoNanos UV-C LED product series. The product specifications are co-designed with our key strategic customers, targeted at water disinfection in the point of use and point of entry applications. The product will be made available to selected key customers for a controlled market entry.
"The current industry bottleneck with the challenging supply of chips has been a key concern for CrayoNano. We have now proactively resolved the situation and continue our efforts on disrupting the UV-C LED market, where we see growing demand for our solutions", says Uthus.
Massive market growth
The initial manufacturing volume will at first utilize commodity, industry standard chip technology and components combined CrayoNanos optimized custom packaging and assembly technology. This is in preparation for the integration of CrayoNanos nanowire chip architecture through testing and validating the supply-chain and driving a controlled market entry to enable a quality and reliability-focused UV-C LED product series.
Following the market entry and customer qualifications, CrayoNano will implement its proprietary nanowire and hybrid materials chip architecture into the same optimized package using the same assembly and test processes, positioning CrayoNano for a leading cost-performance position in the market.
Execution of controlled market entry
The first order of pilot products will be delivered to customers in the first half of 2022. The pilot order will be used by customers to benchmark and qualify the product prior to placing orders. The first volume shipment will be planned for availability to selected customers in Q3/2022.
Due to the substantial lack of UV-C LED products in the market, CrayoNano has obtained signed Letters of Intent (LOI) from industry influencing OEMs and System Integrators (tier-1 and tier-2). "With our supply-chain partners we are now in a position to execute a ramp-up and commercialization of our nanowire and UV-C LED technology according to our business plan. Through this CrayoNano will contribute to solving the lack of supply in the UV-C LED market," says Uthus.
Contact:
CrayoNano
CEO Jo Uthus
Mail: investor@crayonano.com
Phone: +47 72 90 98 60
About CrayoNano
CrayoNano develops and manufactures semiconductor components based on our expertise and technology in nanomaterials. With on our patented and proprietary technology, our first application targets the fast-growing disinfection market with high quality and performance driven UV-C LEDs.
The company is headquartered in Trondheim, Norway, applying a fab-lite model with a global supply-chain and worldwide footprint to provide our customers with innovative semiconductor devices. Our vision is to enable new applications and solutions in health & safety, water purification, life sciences, consumer and industrial goods, and automotive industries. CrayoNano is registered on OTC in Norway under the ticker: CNANO.