Intevac to Acquire Solar Implant Technologies

SANTA CLARA, Calif.--(BUSINESS WIRE)--Intevac, Inc. (Nasdaq:IVAC) announced today it has acquired Solar Implant Technologies (SIT).

“SIT’s innovative ion implant module is a breakthrough design that specifically demonstrates the benefit of designing a solution for a market need”

SIT has developed a novel concept for a compact ion implant module to provide improved doping of silicon photovoltaic cells. Ion implant, a proven technology in semiconductor manufacturing, has recently been adapted for use in the manufacturing of photovoltaic cells to improve the conversion efficiency of silicon cells. However, the equipment currently available in the market generally does not meet the productivity or capital cost of ownership needs of the solar industry. We believe the combination of Intevac’s high productivity platform, Lean Solar™, with SIT’s ion implant module, once productized, will allow the solar industry to reduce the cost per watt of solar modules by enabling the high rate production of higher conversion efficiency cells.

“This technology acquisition is a key element of our equipment strategy to provide a suite of process technology solutions on our high productivity Lean Solar platform to enable lower manufacturing costs for solar cell manufacturers," said Kevin Fairbairn, Intevac president and chief executive officer. “SIT’s innovative ion implant module is a breakthrough design that specifically demonstrates the benefit of designing a solution for a market need,” Mr. Fairbairn concluded.

About Intevac

Intevac was founded in 1991 and has two businesses: Equipment and Intevac Photonics.

Equipment Business: We are a leader in the design, development and marketing of high productivity lean manufacturing systems and have been producing Lean Thinking platforms since 1994. We provide process manufacturing equipment solutions to the hard disk drive industry, high-productivity process manufacturing equipment and inspection solutions to the solar photovoltaic industry and wafer handling platforms to the semiconductor industry.

Intevac Photonics: We are a leader in the development and manufacture of leading edge, high-sensitivity imaging products and vision systems, as well as table-top and handheld Raman instruments. Markets addressed include military, industrial, medical and scientific.

For more information call 408-986-9888, or visit the company's website at www.intevac.com.

Safe Harbor Statement

This press release includes statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Reform Act”). Intevac claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These forward-looking statements are often characterized by the terms “may,” “believes,“ “projects,” “expects,” or “anticipates,” and do not reflect historical facts. Specific forward-looking statements contained in this press release include, but are not limited to: the ability of SIT’s ion implant technology and module to be productized, improve the conversion efficiency of silicon cells, lower manufacturing costs and achieve commercial success. The forward-looking statements contained herein involve risks and uncertainties that could cause actual results to differ materially from the company’s expectations. These risks include, but are not limited to: the failure to productize an implant module on the Lean Solar platform and reduced expectations regarding the technology’s effectiveness at reducing costs and improving silicon cell conversion efficiencies, each of which could have a material impact on our business, our financial results, and the company's stock price. These risks and other factors are detailed in the company’s regular filings with the U.S. Securities and Exchange Commission.