Dynex Power Announces New Semiconductor Foundry Services Business

10.01.18

First Customer Production Order Received

Lincoln, England, January 10, 2018 - Dynex Power Inc. (TSXV: DNX), a leading, high power semiconductor company, today announces the formation of a new Semiconductor Foundry Services business.  This will form part of the portfolio led by Mark Kempton, the company’s Business Unit Director for Semiconductor Devices.

As one of the industry leaders, Dynex has many years’ experience in the design and manufacture of IGBT die and Bipolar wafers, and currently runs a state-of-the-art wafer fabrication facility in Lincoln, England.  Within the last few months, Dynex has been offering its foundry services to external semiconductor module companies, specifically focusing on IGBT die in the range of 1.2kV to 6.5kV.

Dynex offers to the market a broad range of established, proven, Trench Gate and DMOS die that form the basis of Dynex’s own high-quality IGBT modules.  In addition, with its in-house chip design team, Dynex can customise die to specific customer requirements.  This, coupled with full technical support, world-class design capability, and rapid response to customer needs, shows that Dynex is truly differentiated in the foundry services arena.

Today, following the successful independent, external testing of a range of Dynex die, the company is announcing the receipt of its first production order for high-power IGBT die from a major international semiconductor device manufacturer.

Commenting on the latest success in the growth of Dynex, Mark Kempton, Business Unit Director – Semiconductor Devices, said, “The formation of the Dynex Foundry Services business is a logical expansion of the company’s commercial product and service offerings.  The receipt of this first external order for high voltage IGBT die builds on decades of high-quality semiconductor fabrication experience at Dynex.  The excellent chip performance, confirmed by the customer’s own testing, serves to highlight the quality of our design and manufacturing.  We expect this business to grow into a substantial part of our operations over the coming years as we expand our customer base.”

Clive Vacher, President and CEO, added, “These are exciting times at Dynex.  In 2017, we released new, market-leading, high power IGBT modules – including those incorporating the latest-generation Trench Gate technology – as well as the pioneering Press-pack IGBT.  At the same time, we have refined our wafer fabrication processes to achieve benchmark levels of quality, reliability and yields.  We are pleased now to be offering this technology and process robustness to the wider semiconductor market.”

Forward-looking Statements

In commenting on its expectations, the Company cautioned existing and potential shareholders about relying on the Company’s expectations in that the Company’s expectations contain forward looking statements and assumptions which are subject to the risks and uncertainties of the markets and the future, which could cause actual results to differ materially from expectations, and which are each difficult and subjective to forecast. Certain of those risks and uncertainties are discussed in the Management’s Discussion and Analysis for the quarter ended March 31st , 2016 and include, among other things, risks and uncertainties relating to: the level of worldwide demand for power semiconductors and power semiconductor assemblies; the level of investment in power electronic equipment, electrification of transport systems, alternative power generation and high quality power transmission and distribution; and fluctuations in exchange rates between Canadian Dollars, Sterling, US dollars and Euros. As a consequence of these and other risks and uncertainties, shareholders and potential investors must make their own independent judgments about the accuracy and reliability of the Company’s expectations. Dynex disclaims any intention or obligation to update or revise any forward looking statement whether as a result of new information, future events or otherwise.

About the Company

Dynex designs and manufactures high power bipolar semiconductors, high power insulated gate bipolar transistor (IGBT) modules and die, high power electronic assemblies and radiation hard silicon-on-sapphire integrated circuits (SOS IC’s). The company’s power products are used worldwide in power electronic applications including electric power transmission and distribution, renewable and distributed energy, marine and rail traction motor drives, aerospace, electric vehicles, industrial automation and controls and power supplies. The Company’s IC products are used in demanding applications in the aerospace industry. Dynex Semiconductor Ltd is its only operating business and is based in Lincoln, England in a facility housing the fully integrated silicon fabrication, assembly and test, sales, design and development operations.  In 2008, a majority of the shares of Dynex were acquired by Zhuzhou CSR Times Electric Co., Ltd. In April 2016 this company changed its name to Zhuzhou CRRC Times Electric Co., Ltd.

Zhuzhou CRRC Times Electric Co., Ltd. is based in Hunan Province in the People's Republic of China. It is listed on the Hong Kong Stock Exchange. CRRC Times Electric is mainly engaged in the research, development, manufacture and sales of locomotive train power converters, control systems and other train-borne electrical systems, as well as the development, manufacturing and sales of urban railway train electrical systems. In addition, CRRC Times Electric is also engaged in the design, manufacturing and sales of electric components including power semiconductor devices for the railway industry, urban railway industry and non-railway purposes.

Press announcements and other information about Dynex are available at www.dynexpower.com.

Further information on CRRC Times Electric can be found at www.timeselectric.cn/en

All monetary values expressed in this release are in Canadian Dollars unless stated otherwise.

The TSX Venture Exchange has neither approved nor disapproved of the information in this press release.