LOS GATOS, CA--(Marketwired - Sep 2, 2016) - Atomera Incorporated (NASDAQ: ATMR), a semiconductor materials and intellectual property licensing company, today announced that industry veteran Steve Shevick has joined its Board of Directors. Mr. Shevick brings a wealth of industry knowledge with over 20 years of senior executive experience, including 14 years as CFO of public and private technology companies. He will chair Atomera's audit committee.
"Steve brings us very deep expertise in IP licensing and semiconductors, which will help guide Atomera as we continue to innovate and develop technology to enhance the performance of electronics across several industries," said Scott Bibaud, Atomera CEO. "His proven track record of guiding growth companies to success, combined with our breakthrough technology, positions Atomera to make a huge impact on the semiconductor industry. This is truly an exciting time for the company."
Mr. Shevick is currently the CFO of CloudPassage, Inc. Previously he was the CFO at Cobalt Technologies, where he helped lead commercialization, licensing and IP strategy efforts for the company's bio-chemical production technology. His public company experience includes 10 years as General Counsel and CFO of Synopsys, Inc., a leader in the electronic design automation software industry, and a very important provider to the semiconductor industry. During his tenure at Synopsys, their revenue grew from $250M to over $1 billion.
"As the semiconductor industry faces challenges on how they will extend Moore's law, Atomera is uniquely positioned to provide answers with their IP and materials solutions," said Mr. Shevick. "I am very excited to be joining the Atomera board as they commercialize their technology and ramp up their licensing business. I look forward to applying my experience to help Atomera realize its vision of significantly improving semiconductor performance to produce faster, cheaper, lower power electronic devices."
Atomera Incorporated has developed Mears Silicon Technology™ ("MST"), which increases performance and power efficiency in semiconductor transistors. MST™ can be implemented using equipment already deployed in semiconductor manufacturing facilities and is complementary to other nano-scaling technologies already in the semiconductor industry roadmap. Atomera was known as Mears Technologies, Inc. until January 2016. Atomera's headquarters are located in Los Gatos, California.
This press release contains forward-looking statements concerning Atomera Incorporated, including statements regarding the prospects for the semiconductor industry generally and the ability of the Company's MST technology to significantly improve semiconductor performance. Those forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially. Among those factors are: (1) the fact that the Company has not yet commenced revenue producing operations or entered into a definitive agreement with regard to the licensing or commercialization of its MST technology, thus subjecting the Company to all of the risks inherent in a pre-revenue enterprise; (2) risks related to Atomera's ability to raise sufficient capital, as and when needed, to pursue the further development, licensing and commercialization of its MST technology; (3) the Company's ability to protect its proprietary technology, trade secrets and know-how and (4) those other risks disclosed in the section "Risk Factors" included in the final prospectus dated August 5, 2016 filed by Atomera with the SEC on August 8, 2016. Atomera cautions readers not to place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims any obligation, to update or revise such statements to reflect new circumstances or unanticipated events as they occur.