SHANGHAI, Nov. 24, 2021 /PRNewswire/ -- Today, Universal Global Technology Co., Limited ("UGT"), a wholly owned subsidiary of USI (SSE 601231), Universal Scientific Industrial (Shanghai) Co., Ltd, entered into a Share Subscription Agreement, whereby USI became a strategic investor in GaN Systems Inc. ("GaN Systems") growth funding.
GaN Systems, the leading power semiconductor company engaged in the design, development and production of devices using third-generation semiconductor material gallium nitride ("GaN"), is known for its transistor performance and reliability. The GaN Systems funding proceeds will be used to accelerate the development and adoption of GaN technology across the automotive, consumer, industrial, and enterprise markets. Already, GaN is increasing market share as power solutions shifted from legacy silicon devices to smaller, low cost and effective power systems. GaN Systems' advanced technological position is also well recognized by leading industry users.
GaN is one of the most critical emerging third-generation semiconductor technology. Due to GaN's unique properties, it allows faster switching, better heat transfer and higher power, and can be applied to various applications including onboard charger, DC-DC converter, and traction inverter for electric vehicles, data center power supply units, mobile phone charger adapters, as well as areas requiring faster charging, lower energy losses, and smaller equipment. These same properties also allow the increase of electric vehicle driving range. GaN Systems is currently shipping its products to volume customers in consumer, data center and factory motor applications with much greater than 100% growth year over year. GaN Systems customers are increasingly adopting GaN products to improve energy efficiency and reduce the size and weight of their power systems.
Along with the investment, USI and GaN Systems also entered into a Strategic Business Agreement where both parties will commit R&D resources and efforts in GaN power electronics. Jim Witham, CEO of GaN Systems said "USI is the strategic partner of GaN Systems in the manufacturing of power module and other power management related products, while GaN Systems will be USI's strategic supplier and partner in gallium nitride for semiconductor applications. We are excited about this partnership with USI, and will bring advanced GaN power electronics to market, especially to the electric vehicle power module market."
"Besides electric vehicle power electronics, we see GaN's increasing adoption in many applications in the coming years, and we view GaN Systems as the forerunner in GaN technology and applications. Through this collaboration with GaN Systems, we wish to serve our customers better, providing more efficient and cost-effective power solutions, and achieving a lower carbon footprint in the process. USI will continue to invest in miniaturization, modularization and automotive electronics in the future," said Jeffrey Chen, Chairman and CEO of USI.
USI is an industry leader in power modules. Increasing power needs and maximizing power conversion while at the same time reducing energy loss due to excessive heat generation is critical in today's power electronics and a sustainable green future. GaN technology is therefore an important part of the solutions. As part of our mission statement, USI is committed to turn innovative technologies into value for our customers.
About USI
USI (SSE: 601231, A constituent of CSI300 Index), Universal Scientific Industrial (Shanghai) Co., Ltd., is a global leader in electronic design and manufacturing as well as a leader in the field of SiP (System-in-Package) modules. USI provides D(MS)2 product services: Design, Manufacturing, Miniaturization, Industrial software and hardware Solutions, and material procurement, logistics and maintenance Services. With Asteelflash, USI has 27 sales, production and service locations across four continents of Asia, Europe, Americas and Africa, and offers customer diversified products in the sectors of wireless communication, computer and storage, consumer, industrial, medical and automotive electronics worldwide. USI is a subsidiary of ASE Technology Holding Co., Ltd. (TWSE: 3711, NYSE: ASX), the leading provider of semiconductor manufacturing services in assembly and test. To learn more, please visit www.usiglobal.com and engage with us on LinkedIn and YouTube.
