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AXT, Inc. Announces Charter Membership in CPV Consortium
Becomes First Charter Germanium Substrate Member to Join Consortium
| Source: AXT, Inc.
FREMONT, CA--(Marketwire - October 21, 2008) - AXT, Inc. (NASDAQ : AXTI ), a leading
manufacturer of compound semiconductor substrates, today announced that it
has become a charter member of the CPV Consortium, a global industry
organization that supports the development and long-term success of the
concentrator photovoltaics (CPV) industry, with the goal of providing a
low-cost, reliable source of renewable energy. Concentrator photovoltaic
(CPV) cells, referred to as "multi-junction" or "III-V" cells, offer
significantly higher efficiencies than traditional photovoltaic systems. In
addition to AXT, CPV Consortium charter members include 3M, Concentrix,
Emcore, ISFOC, Isofoton, Solfocus and Veeco.
"We are very pleased to join the CPV Consortium as a charter member
alongside a distinguished list of companies that we know and respect," said
Phil Yin, chairman and CEO. "Given the importance of alternative energy
development and the ongoing technical success in advancing the efficiency
and cost-effectiveness of CPV cells, we strongly believe in the
Consortium's mission to provide a solid foundation and infrastructure that
supports every aspect of bringing this promising technology to mainstream
applications. We are proud to be the first charter germanium substrate
member to join the Consortium and we look forward to actively contributing
to its success."
About AXT, Inc.
AXT designs, develops, manufactures and distributes high-performance
compound and single element semiconductor substrates comprising gallium
arsenide (GaAs), indium phosphide (InP) and germanium (Ge) through its
manufacturing facilities in Beijing, China. In addition, AXT maintains its
sales, administration and customer service functions at its headquarters in
Fremont, California. The company's substrate products are used primarily
in lighting display applications, wireless communications, and fiber optic
communications. Its vertical gradient freeze (VGF) technique for
manufacturing semiconductor substrates provides significant benefits over
other methods and enabled AXT to become a leading manufacturer of such
substrates, particularly in optoelectronics applications. AXT has
manufacturing facilities in China and invests in five joint ventures
producing raw materials. For more information, see AXT's website at
http://www.axt.com.
About The CPV Consortium
The CPV Consortium is a global industry group with the charter of
supporting the development and optimizing the long-term success of CPV as a
mainstream source of energy. Activities of the group are focused on
assuring CPV systems and installations are safe; creating confidence in
performance claims; reducing confusion in the market about the technology;
and assuring development of an infrastructure for rapid growth. More
information can be found at http://www.cpvconsortium.org.