Press Releases

SkyWater Announces Proposed CHIPS Funding to Enhance Domestic Semiconductor Production and Capabilities

By Rocket55 |

Federal investment of up to $16M and State of MN pledge of $19M expected to result in total outside CapEx investments exceeding $350M during this decade

BLOOMINGTON, Minn. – December 6, 2024 – SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, announced that it has signed a preliminary memorandum of terms (PMT) valued at up to $16 million with the CHIPS for America program, which is administered by the U.S. Department of Commerce. This proposed funding would provide federal incentives to enhance production capabilities at SkyWater’s Minnesota facility.

This funding through the CHIPS Act will accelerate modernization and equipment upgrades to enhance production for customers in the aerospace and defense as well as biomedical, industrial, thermal imaging and quantum computing markets. As a Department of Defense (DOD) DMEA Category 1A Trusted Supplier, SkyWater is a key semiconductor supplier to the U.S. government and is committed to providing the lab-to-fab capabilities needed to support the nation’s defense programs.

The proposed $16 million CHIPS Program award will be combined with $19 million in incentives from the State of Minnesota’s Forward Fund. The newly announced state and federal incentives will complement SkyWater’s existing and planned customer-funded CapEx co-investments totaling $320 million through 2026, bringing the expected combined outside investment levels now to over $350 million during this decade. SkyWater will also utilize the Advanced Manufacturing Investment Tax Credit which is expected to be up to 25% of qualified capital expenditures.

Through the proposed CHIPS funding, SkyWater expects to:

  • Increase its U.S.-based 200 mm semiconductor technology development and production capacity by 30%
  • Create approximately 70 new jobs to support the workforce in Bloomington, Minnesota
  • Modernize its facility to meet the escalating demand for domestically produced microelectronics
  • Ensure a consistent supply of trusted silicon for critical DOD and commercial programs
  • Accelerate technology development and time to market for customers.

From the outset of the government plan to create a program to support the semiconductor industry, SkyWater was working to bolster the nation’s supply of chips. Today, the company is immersed in many facets of the CHIPS program, including lending expertise in substrates and process engineering for advanced packaging, underwriting workforce initiatives at the federal and local level, and participating as a core partner in the DOD’s Microelectronics Commons network to support warfighter applications.

“We are pleased to receive this important CHIPS funding, including the Advanced Manufacturing Investment Tax Credit to expand our nation’s onshore capacity. We’ve been the beneficiary of significant government program awards over the past several years, and we’re proud of our role in helping to expand the domestic microelectronics infrastructure and strengthen the U.S. supply chain,” said SkyWater CEO Thomas Sonderman. “As America’s Trusted Foundry, through our business model and expanding capabilities, we are creating a national asset for technology development, which is in a critical state domestically. We have been working to meet the specific needs of the Defense Industrial Base and commercial companies, developing the technologies of the future. The investments today are another milestone along this path.”

“The Biden-Harris Administration’s bipartisan CHIPS and Science Act is making targeted investments to meet market demands for technology critical to our national and economic security,” said U.S. Secretary of Commerce Gina Raimondo. “Today’s proposed investments across Texas and Minnesota would help bolster domestic chip production and help secure our supply chain for decades to come.”

“If we want to continue leading the global economy, we must be a country that makes stuff, invents things, and exports to the world. This significant investment in SkyWater Technology will transform domestic semiconductor manufacturing,” said U.S. Senator Amy Klobuchar (D-MN). “I’m proud to have worked with SkyWater Technology to secure the resources needed to ensure Minnesota remains at the forefront of technological innovation. This is good for our state’s workers and businesses.”

“The DOD’s Trusted Supplier Program continues to be the benchmark in semiconductor assurance,” said Dr. Nicholas Martin, director of Defense Microelectronics Activity. “SkyWater will utilize CHIPS funding to accelerate the development speed for critical technologies vital to U.S. national security and expand the security options available for stakeholders that seek the specialized services in the Trusted Supplier Network.”

About SkyWater Technology
SkyWater (NASDAQ: SKYT) is a U.S.-based semiconductor manufacturer and a DMEA-accredited Category 1A Trusted Supplier. SkyWater’s Technology as a Service model streamlines the path to production for customers with development services, volume production and heterogeneous integration solutions in its U.S. facilities. This pioneering model enables innovators to co-create the next wave of technology within diverse categories including mixed-signal CMOS, ROICs, rad-hard ICs, MEMS, superconducting ICs, photonics and advanced packaging. SkyWater serves the growing markets of aerospace & defense, automotive, biomedical, industrial and quantum computing. For more information, visit www.skywatertechnology.com/.

SkyWater Technology Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements based on the Company’s current expectations or forecasts of future events. These statements are subject to risks and uncertainties that may cause actual results to differ materially. Key factors that could cause the Company’s actual results to be different than expected or anticipated include, but are not limited to: our goals and strategies; our future business development, financial condition and results of operations; our ability to continue operating our fabrication facilities at full capacity; our ability to appropriately respond to changing technologies on a timely and cost-effective basis; our customer relationships and our ability to retain and expand our customer relationships; our ability to accurately predict our future revenues for the purpose of appropriately budgeting and adjusting our expenses; our expectations regarding dependence on our largest customers; our ability to diversify our customer base and develop relationships in new markets; the performance and reliability of our third-party suppliers and manufacturers; our ability to procure tools, materials, and chemicals; our ability to control costs, including our operating and capital expenses; the size and growth potential of the markets for our solutions, and our ability to serve and expand our presence in those markets; the level of demand in our customers’ end markets; our ability to attract, train and retain key qualified personnel in a competitive labor market; adverse litigation judgments, settlements or other litigation-related costs; changes in trade policies, including the imposition of tariffs; our ability to raise additional capital or financing; our ability to accurately forecast demand; the level and timing of U.S. government program funding; our ability to maintain compliance with certain U.S. government contracting requirements; regulatory developments in the United States and foreign countries; our ability to protect our intellectual property rights; our ability to meet our long-term growth targets; and other factors discussed in the “Risk Factors” section of the annual report on Form 10-K the Company filed with the SEC on March 15, 2024 and in other documents that the Company files with the SEC, which are available at http://www.sec.gov. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date of this press release.

Contacts
SkyWater Investor Contact: Claire McAdams | claire@headgatepartners.com
SkyWater Media Contact: media@skywatertechnology.com

SkyWater Technology Enhances Financial Flexibility with Amended Loan and Security Agreement

By Rocket55 |

BLOOMINGTON, Minn. – November 25, 2024 – SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, today announced the execution of an amendment to its Loan and Security Agreement with Siena Lending Group LLC and GRC SPV Investments, LLC. The amended agreement extends the revolving loan commitment’s maturity date and increases the Company’s borrowing capacity.

As amended, the revolving loan commitment has been extended to December 31, 2028, and the capacity has been increased from $100 million to $130 million, with an additional $30 million available under an accordion feature, raising the potential availability to $160 million, subject to satisfaction of certain conditions, including the commitment of the participating lenders. The amended facility includes a new $25 million capital expenditure (CapEx) sublimit, enabling access to additional financing for eligible new equipment investments.

“We are pleased to strengthen our partnership with Siena Lending Group and GRC SPV Investments,” said SkyWater Chief Financial Officer Steve Manko. “The extended maturity and additional capacity reflect increased confidence in SkyWater’s financial performance and provide additional support for our strategic initiatives and future growth potential.”

The amendment also introduces enhanced flexibility for CapEx-related borrowings and includes a new definition of EBITDA, allowing for certain adjustments that better align with SkyWater’s operational objectives.

“This amendment underscores SkyWater’s commitment to maintaining a strong financial position while investing in innovative technologies to meet customer demand across growing markets,” commented SkyWater CEO Thomas Sonderman. “Our ability to secure favorable terms demonstrates the success of our financial strategy and our lenders’ confidence in our vision.”

The Company intends to utilize the increased borrowing capacity to support ongoing capital investments, working capital, and growth initiatives as it continues to drive innovation in high-demand markets such as aerospace and defense, advanced compute, and biomedical industries.

About SkyWater Technology 

SkyWater (NASDAQ: SKYT) is a U.S.-based semiconductor manufacturer and a DMEA-accredited Category 1A Trusted Supplier. SkyWater’s Technology as a Service model streamlines the path to production for customers with development services, volume production and heterogeneous integration solutions in its U.S. facilities. This pioneering model enables innovators to co-create the next wave of technology within diverse categories including mixed-signal CMOS, read-out ICs, rad-hard ICs, MEMS, superconducting ICs, photonics and advanced packaging. SkyWater serves the growing markets of aerospace & defense, automotive, biomedical, industrial and quantum computing. For more information, visit: www.skywatertechnology.com.

Forward Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. The actual results of the Company may differ from its expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s expectations with respect to future performance and development and commercialization of products and services, its anticipated cash runway and its financial guidance for the full year 2024. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside the Company’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the inability to maintain the listing of the Company’s Class A common stock on The Nasdaq Stock Market; the ability of the Company to grow and manage growth profitably and retain its key employees; the Company’s ongoing leadership transitions; changes in applicable laws or regulations; the ability of the Company to raise financing in the future; the success, cost and timing of the Company’s product development and commercialization activities; the commercialization and adoption of the Company’s existing products and the success of any product the Company may offer in the future; the potential attributes and benefits of the Company’s commercialized Platinum® protein sequencing instrument and kits and the Company’s other products once commercialized; the Company’s ability to obtain and maintain regulatory approval for its products, and any related restrictions and limitations of any approved product; the Company’s ability to identify, in-license or acquire additional technology; the Company’s ability to maintain its existing lease, license, manufacture and supply agreements; the Company’s ability to compete with other companies currently marketing or engaged in the development or commercialization of products and services that serve customers engaged in proteomic analysis, many of which have greater financial and marketing resources than the Company; the size and growth potential of the markets for the Company’s products and services, and its ability to serve those markets once commercialized, either alone or in partnership with others; the Company’s estimates regarding future expenses, future revenue, capital requirements and needs for additional financing; the Company’s financial performance; and other risks and uncertainties described under “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and in the Company’s other filings with the SEC. The Company cautions that the foregoing list of factors is not exclusive. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.

SkyWater Investor Contact: Claire McAdams | claire@headgatepartners.com
SkyWater Media Contact: Lauri Julian | media@skywatertechnology.com

Quantum-Si Expands Collaboration with SkyWater to Develop New Chip Production Process Critical for Groundbreaking New Proteomics Platform

By Rocket55 |

Sets stage for advanced scientific discovery of new diagnostic biomarkers and treatments for disease

BRANFORD, Conn. and BLOOMINGTON, Minn. – November 20, 2024 – Quantum-Si Incorporated (Nasdaq: QSI) (“Quantum-Si,” or “QSI”), The Protein Sequencing Company™ and SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, announced today they will jointly expand their relationship to support the development of Proteus, Quantum-Si’s next-generation platform designed to transform proteomic research. The expanded collaboration will develop the consumable for Proteus that will enable simultaneous large factor, protein sequencing with unparalleled accuracy.

Quantum-Si and SkyWater began partnering in 2021 on the first-generation Platinum® platform and announced transition to support production in the second quarter of 2024. SkyWater will continue to supply the consumables for the Platinum Pro product as the two companies expand their engagement to support commercialization of Proteus.

This cutting-edge solution is set to redefine proteomics with unprecedented output per sample, application flexibility and automation. By combining Quantum-Si’s expertise in biotechnology with SkyWater’s Technology as a Service (TaaS) manufacturing capabilities, the collaboration is poised to drive significant advancements in protein sequencing and to the field of proteomics.

“We’re pleased to build on past success together and move into this next product development program with momentum to drive the innovations for this revolutionary proteomics platform,” said Ross Miller, SVP Commercial and A&D Business, SkyWater Technology. “This collaboration underscores SkyWater’s commitment to enabling transformative technologies that have the potential to reshape industries and improve lives.”

“We are excited to expand our relationship with SkyWater around Platinum, and to apply the learnings and their unique capabilities to our next platform innovation,” said Jeff Hawkins, President and CEO of Quantum-Si. “SkyWater’s manufacturing expertise and commitment to innovation make them an ideal partner as we work to commercialize this game-changing platform. With Platinum, we were the first to bring Next-Generation Protein Sequencing to researchers globally and we believe our new technology will enable us to further extend our leadership position in protein sequencing and allow us to extend our technology into other areas of proteomics.”

Leveraging its custom process development and robust manufacturing capabilities, SkyWater enables the unique technological needs of microfluidic biomedical devices from proof of concept to final qualification. Embracing a TaaS model, SkyWater facilitates early collaboration with system engineers and device designers, developing technology within a production environment. This approach expedites time-to-market, ensures quality from inception, and seamlessly scales to meet volume production demands.

SkyWater holds certification to the ISO 13485 Quality Standard for Medical Devices, affirming its ability to support the design, development, and fabrication of biomedical applications.

About Quantum-Si Incorporated  
Quantum-Si, The Protein Sequencing Company™, is focused on revolutionizing the growing field of proteomics. The Company’s Platinum® instrument enables Next-Generation Protein Sequencing™ that advances proteomic research, drug discovery, and diagnostics beyond what has been possible with existing proteomic tools. Learn more at quantum-si.com or follow us on LinkedIn or X.

Forward Looking Statements  
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. The actual results of the Company may differ from its expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s expectations with respect to future performance and development and commercialization of products and services, its anticipated cash runway and its financial guidance for the full year 2024. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside the Company’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the inability to maintain the listing of the Company’s Class A common stock on The Nasdaq Stock Market; the ability of the Company to grow and manage growth profitably and retain its key employees; the Company’s ongoing leadership transitions; changes in applicable laws or regulations; the ability of the Company to raise financing in the future; the success, cost and timing of the Company’s product development and commercialization activities; the commercialization and adoption of the Company’s existing products and the success of any product the Company may offer in the future; the potential attributes and benefits of the Company’s commercialized Platinum® protein sequencing instrument and kits and the Company’s other products once commercialized; the Company’s ability to obtain and maintain regulatory approval for its products, and any related restrictions and limitations of any approved product; the Company’s ability to identify, in-license or acquire additional technology; the Company’s ability to maintain its existing lease, license, manufacture and supply agreements; the Company’s ability to compete with other companies currently marketing or engaged in the development or commercialization of products and services that serve customers engaged in proteomic analysis, many of which have greater financial and marketing resources than the Company; the size and growth potential of the markets for the Company’s products and services, and its ability to serve those markets once commercialized, either alone or in partnership with others; the Company’s estimates regarding future expenses, future revenue, capital requirements and needs for additional financing; the Company’s financial performance; and other risks and uncertainties described under “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and in the Company’s other filings with the SEC. The Company cautions that the foregoing list of factors is not exclusive. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.

About SkyWater Technology
SkyWater (NASDAQ: SKYT) is a U.S.-based semiconductor manufacturer and a DMEA-accredited Category 1A Trusted Supplier. SkyWater’s Technology as a Service model streamlines the path to production for customers with development services, volume production and heterogeneous integration solutions in its U.S. facilities. This pioneering model enables innovators to co-create the next wave of technology within diverse categories including mixed-signal CMOS, read-out ICs, rad-hard ICs, MEMS, superconducting ICs, photonics and advanced packaging. SkyWater serves the growing markets of aerospace & defense, automotive, biomedical, industrial and quantum computing. For more information, visit www.skywatertechnology.com/.

SkyWater Technology Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements that are based on the Company’s current expectations or forecasts of future events, rather than past events and outcomes, and such statements are not guarantees of future performance. Forward-looking statements are subject to risks, uncertainties and assumptions, which may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Key factors that could cause the Company’s actual results to be different than expected or anticipated include, but are not limited to, factors discussed in the “Risk Factors” section of its annual report on Form 10-K and quarterly reports on Form 10-Q, and in other documents that the Company files with the SEC, which are available at http://www.sec.gov. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date of this press release.

Quantum-Si Investor Contact
Doug Farrell, VP, Investor Relations
ir@quantum-si.com

Quantum-Si Media Contact
Katherine Atkinson, SVP, Commercial Marketing
media@quantum-si.com

SkyWater Company Contact
Tara Luther, Director of Corporate Communications
tara.luther@skywatertechnology.com

SkyWater Media Contact
Lauri Julian, Sr. Public Relations Strategist
lauri.julian@skywatertechnology.com

SkyWater Announces Participation in 13th Annual NYC Summit

By Rocket55 |

BLOOMINGTON, Minn. – November 18, 2024 – SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, today announced that it will be joining 17 other companies in collectively hosting the 13th Annual NYC Summit investor conference, being held Tuesday, December 17, 2024, at Mastro’s Steakhouse New York.

The investor presentation material utilized during the NYC Summit will be made available on the company’s investor relations website at ir.skywatertechnology.com.

About the 13th Annual NYC Summit
The NYC Summit is collectively hosted and funded by participating companies and features a “round-robin” format consisting of small group meetings with company management teams. During the event, investors and analysts will have the opportunity to meet with the majority of the 18 management teams during the small group meeting sessions, as well as opportunities to meet with management during the breakfast and lunch networking sessions.

The 18 management teams collectively hosting the 13th Annual NYC Summit 2024 include: ACM Research (ACMR), Advanced Energy (AEIS), Aehr Test (AEHR), Alpha & Omega Semiconductor (AOSL), Axcelis (ACLS), Cohu, Inc. (COHU), CVD Equipment (CVV), FormFactor (FORM), Ichor Systems (ICHR), inTEST Corporation (INTT), Kulicke & Soffa (KLIC), Lantronix, Inc. (LTRX), nLIGHT, Inc. (LASR), Peraso, Inc. (PRSO), Photronics, Inc. (PLAB), QuickLogic (QUIK), SkyWater Technology (SKYT), and Vishay Precision Group (VPG). Stifel and TD Cowen are sponsors of the conference.

Attendance at the NYC Summit is by invitation only and is available solely to accredited investors and publishing research analysts. As space is limited, please RSVP early. Hosts reserve the right to limit attendance as necessary. Last day for registration is December 10, 2024.

RSVP Contacts for 13th Annual NYC Summit 2024 

To RSVP for the NYC Summit, please contact either of the Summit’s co-chairs.

Laura J. Guerrant-Oiye
Phone: (808) 960-2642
Email: lauraoiye@gmail.com 

Claire E. McAdams
Phone: (530) 265-9899
Email: claire@headgatepartners.com

About SkyWater Technology 

SkyWater (NASDAQ: SKYT) is a U.S.-based semiconductor manufacturer and a DMEA-accredited Category 1A Trusted Supplier. SkyWater’s Technology as a Service model streamlines the path to production for customers with development services, volume production and heterogeneous integration solutions in its U.S. facilities. This pioneering model enables innovators to co-create the next wave of technology within diverse categories including mixed-signal CMOS, read-out ICs, rad-hard ICs, MEMS, superconducting ICs, photonics and advanced packaging. SkyWater serves the growing markets of aerospace & defense, automotive, biomedical, industrial and quantum computing. For more information, visit: www.skywatertechnology.com.

SkyWater Investor Contact: Claire McAdams | claire@headgatepartners.com
SkyWater Media Contact: Lauri Julian | media@skywatertechnology.com

SkyWater Technology Reports Third Quarter 2024 Results

By Rocket55 |

Record Revenues with Increased Gross Margin and Earnings

BLOOMINGTON, Minn. – November 7, 2024 – SkyWater Technology Inc. (NASDAQ: SKYT), the trusted technology realization partner, today announced financial results for the third quarter 2024 ended September 29, 2024.

Financial Highlights for Q3 2024:

  • Revenue increased 31% year-over-year to a record $93.8 million.
  • Gross margin increased to 21.6% on a GAAP basis, compared to 19.8% in Q3 2023, and increased to 22.3% on a non-GAAP basis, compared to 20.4% in Q3 2023.
  • Net income to shareholders of $1.5 million, or $0.03 per diluted share on a GAAP basis, and net income to shareholders of $3.6 million, or $0.08 per diluted share on a non-GAAP basis, compared to net loss to shareholders of $7.6 million, or $(0.16) per diluted share on a GAAP basis, and net loss to shareholders of $2.2 million, or $(0.05) per diluted share on a non-GAAP basis in Q3 2023.
  • Adjusted EBITDA of $11.0 million, or 11.7% of revenue, compared to $8.3 million, or 11.6% of revenue in Q3 2023.

View the results on SkyWater Technology’s Investor Relations page: https://ir.skywatertechnology.com

SkyWater Investor Contact: Claire McAdams | claire@headgatepartners.com
SkyWater Media Contact: Lauri Julian | media@skywatertechnology.com

SkyWater Technology to Announce Third Quarter Financial Results on November 7, 2024

By Rocket55 |

BLOOMINGTON, Minn. – October 8, 2024 – SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, today announced that it will report its fiscal third quarter 2024 financial results following the close of the market on Thursday, November 7, 2024. The same afternoon, management will host a webcast to discuss its business and financial results.

SkyWater Technology Fiscal Third Quarter 2024 Earnings Webcast
When: Thursday, November 7, 2024
Time: 3:30 p.m. CST (4:30 p.m. EST)
Live Webcast: available at https://ir.skywatertechnology.com or directly at https://events.q4inc.com/attendee/163718612.

An archived webcast will be available on SkyWater Technology’s Investor Relations page: https://ir.skywatertechnology.com.

About SkyWater Technology

SkyWater (NASDAQ: SKYT) is a U.S.-based semiconductor manufacturer and a DMEA-accredited Category 1A Trusted Supplier. SkyWater’s Technology as a Service model streamlines the path to production for customers with development services, volume production and heterogeneous integration solutions in its U.S. facilities. This pioneering model enables innovators to co-create the next wave of technology within diverse categories including mixed-signal CMOS, ROICs, rad-hard ICs, MEMS, superconducting ICs, photonics and advanced packaging. SkyWater serves the growing markets of aerospace & defense, automotive, biomedical, industrial and quantum computing. For more information, visit: www.skywatertechnology.com.

SkyWater Investor Contact: Claire McAdams  | claire@headgatepartners.com
SkyWater Media Contact: Lauri Julian | media@skywatertechnology.com

SkyWater Names Bassel Haddad as Sr. Vice President and General Manager of Advanced Packaging

By Rocket55 |

Haddad brings over 25 years of strategic leadership, business transformation and industry and end market expertise

BLOOMINGTON, Minn. – September, 2024 – SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, today announced the appointment of Bassel Haddad as senior vice president and general manager of advanced packaging. Reporting to President and COO John Sakamoto, Haddad will build and scale SkyWater’s advanced packaging business serving both the defense and commercial market sectors. He will be responsible for all aspects of SkyWater’s advanced packaging business including technology development, engineering, marketing and Florida fab operations. He will also focus on strengthening collaborations with the advanced packaging ecosystem, including government partners, technology centers and university programs.

According to Sakamoto, “Bassel will lead the charge in driving the growth trajectory of our advanced packaging business. His commercial sector experience will be pivotal in cultivating key new customers and partnerships to build a strong commercial manufacturing presence. Bassel’s proven track record at Intel, where he effectively managed large-scale business lines and engineering projects, highlights his ability to translate strategies into operational success. We are excited to see the positive impact of his leadership on our advanced packaging business.”

Haddad is a seasoned executive with a strong foundation in business strategy, P&L management and the execution of engineering projects and operations. He has deep expertise in silicon, platforms and systems across enterprise, edge compute and mobile markets, with a history of driving business growth. Previously, Haddad was at Intel since 2011, most recently as vice president and general manager of edge device & AI products, managing a multi-billion dollar P&L and leading innovations in edge AI and IoT. Earlier in his career, he held roles in platform architecture, silicon development, systems and software engineering, delivering leadership products to various end markets. Haddad holds a Bachelor’s and Master’s degree in electrical engineering from Technion – Israel Institute of Technology.

“As Moore’s Law is slowing down, 2.5D and 3D advanced packaging becomes the next frontier of semiconductor technology innovation. The unprecedented demand for computation in the AI era makes heterogeneous integration a pivotal capability fueling the next phase of semiconductor growth,” said Haddad. “SkyWater is uniquely positioned to be a leading domestic supplier of advanced packaging solutions, serving both defense and commercial customers. I am thrilled to join SkyWater and look forward to rapidly scaling the business through continued innovation and operational excellence, building upon the foundation the team has established.”

About SkyWater Technology
SkyWater (NASDAQ: SKYT) is a U.S.-based semiconductor manufacturer and a DMEA-accredited Category 1A Trusted Supplier. SkyWater’s Technology as a Service model streamlines the path to production for customers with development services, volume production and heterogeneous integration solutions in its U.S. facilities. This pioneering model enables innovators to co-create the next wave of technology within diverse categories including mixed-signal CMOS, ROICs, rad-hard ICs, MEMS, superconducting ICs, photonics and advanced packaging. SkyWater serves the growing markets of aerospace & defense, automotive, biomedical, industrial and quantum computing. For more information, visit www.skywatertechnology.com/.

SkyWater Technology Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements that are based on the Company’s current expectations or forecasts of future events, rather than past events and outcomes, and such statements are not guarantees of future performance. Forward-looking statements are subject to risks, uncertainties and assumptions, which may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Key factors that could cause the Company’s actual results to be different than expected or anticipated include, but are not limited to, factors discussed in the “Risk Factors” section of its annual report on Form 10-K and quarterly reports on Form 10-Q, and in other documents that the Company files with the SEC, which are available at http://www.sec.gov. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date of this press release.

SkyWater Company Contact: Tara Luther | 952.851.5023 | tara.luther@skywatertechnology.com
SkyWater Media Contact: Lauri Julian | 949.280.5602 | lauri.julian@skywatertechnology.com

SkyWater Technology Reports Second Quarter 2024 Results

By Rocket55 |

Eighth Straight Quarter of Record Revenue and 34% Growth Year-Over-Year

BLOOMINGTON, Minn. – August 7, 2024 – SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, today announced financial results for the second quarter 2024 ended June 30, 2024.

Financial Highlights for Q2 2024:

  • Revenue increased 34% year-over-year to a record $93.3 million.
  • Gross margin decreased to 18.3% on a GAAP basis, compared to 23.9% in Q2 2023, and decreased to 18.9% on a non-GAAP basis, compared to 25.3% in Q2 2023.
  • Net loss to shareholders of $1.9 million, or $0.04 per share on a GAAP basis, and net income to shareholders of $0.8 million, or $0.02 per share on a non-GAAP basis, compared to net loss to shareholders of $8.6 million, or $0.19 per share on a GAAP basis, and net loss to shareholders of $2.0 million, or $0.04 per share on a non-GAAP basis in Q2 2023.
  • Adjusted EBITDA of $8.1 million, or 8.7% of revenue, compared to $10.3 million, or 14.7% of revenue in Q2 2023.

View the results on SkyWater Technology’s Investor Relations page: https://ir.skywatertechnology.com

SkyWater Investor Contact: Claire McAdams | claire@headgatepartners.com
SkyWater Media Contact: Lauri Julian | media@skywatertechnology.com

SkyWater Announces Enhanced Capabilities with Multibeam’s First in Industry High Productivity Multicolumn E-Beam Lithography System

By Rocket55 |

Positions SkyWater’s Minnesota fab with the most advanced 200 mm lithography  offering in the world

BLOOMINGTON, Minn. and Santa Clara, Calif. – July 25, 2024 – SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, announced today that it has received from Multibeam Corp., a first-of-a-kind Multicolumn E-Beam Lithography (MEBL) system for volume production. The Multibeam (MB) platform is a landmark for the semiconductor industry, offering a high-throughput direct write patterning system that is orders of magnitude faster and more productive than conventional e-beam tools. The MB system will be available to SkyWater customers for early concept prototyping and rapid production.

MEBL enables several new production capabilities for SkyWater’s customers including secure chip ID for anti-counterfeit applications and full wafer patterning to support focal plane read-out ICs and other types of large format die. MEBL also offers large depth of focus for a range of high topology microfluidic and MEMS architectures, curvilinear designs for photonics, and high-density MOS. In addition, it is the only production lithography tool capable of sub 50 nm geometries on 200 mm wafers.

Uniquely configured with multiple miniaturized electron beam columns, the MB platform elevates E-Beam Lithography (EBL) to a breakthrough maskless lithography production system with compelling performance and cost advantages for today’s IC fabs. The delivery of the first Multibeam system follows a close collaboration with SkyWater over the past two years. This partnership provided critical fab operational insights which were used to define key system performance specifications before delivery of the MB platform to SkyWater.

According to Multibeam Chairman and CEO Dr. David K. Lam, “This is a significant milestone for Multibeam and we are immensely proud to share it with SkyWater. From the outset of our engagement with SkyWater they supported our mission to re-innovate EBL for high-volume production and provided critical user perspectives that helped us accelerate our development program and commercialize a world-class maskless lithography system. We are grateful for their collaboration and thrilled to place our first production tool in a SkyWater fab.”

SkyWater CEO and Director Thomas Sonderman emphasized the value of this technology for customers across target growth markets, “We are excited to offer new lithography capabilities to our customers enabled by Multibeam’s revolutionary technology. The deployment of the MB platform will expand capabilities and time to market for innovators on the concept-to-production journey in secure defense, biomedical, thermal imaging, high reliability and advanced compute markets.”

Sonderman added: “Our engagement with Multibeam exemplifies the power of partnerships in developing breakthrough equipment to accelerate chip innovation in the U.S. and positions SkyWater’s Minnesota fab with the most advanced 200 mm lithography in the world.”

SkyWater will enable access to the tool for initial customer designs in 4Q24.

About Multibeam  
Multibeam helps semiconductor leaders accelerate chip innovation with the industry’s first Multicolumn E-Beam Lithography (MEBL) system built for volume production. The technology enables applications like rapid prototyping, advanced packaging and heterogeneous integration, chip ID and traceability, high-mix quick-turn manufacturing, compound semiconductors, and more. Headquartered in Silicon Valley, the company is privately held and led by a team of semiconductor equipment and patterning technology experts. For more information, visit www.multibeamcorp.com.

About SkyWater Technology
SkyWater (NASDAQ: SKYT) is a U.S.-based semiconductor manufacturer and a DMEA-accredited Category 1A Trusted Supplier. SkyWater’s Technology as a Service model streamlines the path to production for customers with development services, volume production and heterogeneous integration solutions in its U.S. facilities. This pioneering model enables innovators to co-create the next wave of technology within diverse categories including mixed-signal CMOS, ROICs, rad-hard ICs, MEMS, superconducting ICs, photonics and advanced packaging. SkyWater serves the growing markets of aerospace & defense, automotive, biomedical, industrial and quantum computing. For more information, visit www.skywatertechnology.com/.

SkyWater Technology Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements that are based on the Company’s current expectations or forecasts of future events, rather than past events and outcomes, and such statements are not guarantees of future performance. Forward-looking statements are subject to risks, uncertainties and assumptions, which may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Key factors that could cause the Company’s actual results to be different than expected or anticipated include, but are not limited to, factors discussed in the “Risk Factors” section of its annual report on Form 10-K and quarterly reports on Form 10-Q, and in other documents that the Company files with the SEC, which are available at http://www.sec.gov. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date of this press release.

Multibeam Contact: Shani Williams | swilliams@multibeamcorp.com
SkyWater Company Contact: Tara Luther | 952.851.5023 | tara.luther@skywatertechnology.com
SkyWater Media Contact: Lauri Julian | 949.280.5602 | lauri.julian@skywatertechnology.com

SkyWater Foundation Grants $100,000 in Scholarships to Support Students Pursuing Higher Education and Technical Skills for Success in US Workforce

By Rocket55 |

BLOOMINGTON, Minn. – July 23, 2024 – SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, is pleased to announce the selection of 10 recipients by Scholarship America to receive $10,000 each through the second annual SkyWater Foundation Scholarship Program. While the application process welcomed students from all fields, an emphasis in STEM (science, technology, engineering, and mathematics) was encouraged. Currently, there exists a gap in the talent required for the semiconductor industry. Workforce development is critical in producing the highly skilled personnel needed to address the industry’s evolving needs and technological breakthroughs.

Eligible applicants included high school graduates or current college undergraduates planning to enroll full-time at an accredited two- or four-year college, university or vocational-technical school for the entire 2024-2025 academic year, with a minimum GPA of 3.0 on a 4.0 scale (or its equivalent). Selection criteria considered academic performance, leadership, extracurricular activities and a statement of educational and career goals. Due to an overwhelming response last year, Scholarship America capped applications at the first 1,000 received.

The SkyWater Foundation Scholarship Program is made possible through the generosity of the Oxbow Foundation and SkyWater Technology, Inc. According to SkyWater’s Senior Vice President of Human Resources Laura Lorenz, “SkyWater is very pleased to partner with the Oxbow Foundation to offer these scholarships. Investing in higher education and helping students develop technical skills is essential for strengthening the U.S. workforce.”

The 10 recipients are pursuing degrees at institutions ranging from Columbia to MIT and Purdue, among others and include majors such as engineering physics, aerospace engineering and computer science.

Oxbow Foundation Director Elise Unterseher said, “The Foundation takes pride in advancing STEM education and cultivating future leaders in the semiconductor industry through our scholarship program. By making education more accessible, we align with our commitment to fostering learning. These scholarships empower students to pursue higher education, unlocking their potential for greater earning and success in their future careers.”

According to one of the recipients, Emerald W., “This scholarship will allow me to begin my freshman year 100% focused on the rigorous academic schedule needed for my major, aerospace engineering, which I will be pursuing at Purdue’s Honors College this fall. It will enable me to adjust to college life without having to worry about working full-time to financially support my college education.”

Another recipient, William S. who is studying computer engineering at George Mason University, commented, “This scholarship is helping me face the biggest obstacle I have in my college career: the financial one. I’m a first-generation student who lives on campus at a university in which I pay out-of-state tuition, so organizations like SkyWater make it possible for individuals like me to work toward their dreams without getting stuck on the journey.”

Added Oxbow Foundation Director Julia Unterseher, “We are proud that there have been 20 recipients of this scholarship over two years, and we are pleased to see our program empower students in their academic and professional pursuits. We are also excited to support those who are pioneering higher education within their families, and we take pride in fostering their success.”

About SkyWater Foundation’s Annual Scholarship Program
The Oxbow Foundation and SkyWater Technology, Inc. in partnership have established the SkyWater Foundation Fund, Inc. to offer a college scholarship program. Annually, The Oxbow Foundation expects to contribute up to $100,000 to the program for up to 10 students. The maximum annual award provided to any recipient is $10,000. The SkyWater Foundation has selected Scholarship America, a non-profit organization, to manage and administer the scholarship program.

The SkyWater Foundation Scholarship Program may be cancelled or terminated at the discretion of the Oxbow Foundation and/or the Board of Directors of SkyWater Technology, Inc. at any time.

About SkyWater Technology
SkyWater (NASDAQ: SKYT) is a U.S.-based semiconductor manufacturer and a DMEA-accredited Category 1A Trusted Supplier. SkyWater’s Technology as a Service model streamlines the path to production for customers with development services, volume production and heterogeneous integration solutions in its U.S. facilities. This pioneering model enables innovators to co-create the next wave of technology within diverse categories including mixed-signal CMOS, ROICs, rad-hard ICs, MEMS, superconducting ICs, photonics and advanced packaging. SkyWater serves the growing markets of aerospace & defense, automotive, biomedical, industrial and quantum computing. For more information, visit www.skywatertechnology.com/.

SkyWater Technology Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements that are based on the Company’s current expectations or forecasts of future events, rather than past events and outcomes, and such statements are not guarantees of future performance. Forward-looking statements are subject to risks, uncertainties and assumptions, which may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Key factors that could cause the Company’s actual results to be different than expected or anticipated include, but are not limited to, factors discussed in the “Risk Factors” section of its annual report on Form 10-K and quarterly reports on Form 10-Q, and in other documents that the Company files with the SEC, which are available at http://www.sec.gov. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date of this press release.

SkyWater Company Contact: Tara Luther | 952.851.5023 | tara.luther@skywatertechnology.com
SkyWater Media Contact: Lauri Julian | 949.280.5602 | lauri.julian@skywatertechnology.com