Dynex Power Announces the Appointment of Chief Technology Officer

31.01.18

Dr. Keith Ferguson to join Dynex on February 5, 2018

Lincoln, England, January 31, 2018 - Dynex Power Inc. (TSXV: DNX), a leading, high power semiconductor company, today announces the appointment of Dr. Keith Ferguson as the company’s Chief Technology Officer, effective February 5th, 2018. In this role, Dr. Ferguson will join the Dynex Senior Leadership Team, report directly to the CEO, and lead the Lincoln Research and Development Centre. He will have full responsibility for engineering activities associated with Dynex’s new product introduction and product development, as well as the associated technology developments in Lincoln. He will also lead Dynex’s growing collaboration with the recently-announced Times Electric Innovation Centre in Birmingham, UK.

Dr. Ferguson joins Dynex from Teledyne-e2v, where he most recently held the position of President of its RFPower Defence division. Previously, he served on the Executive Committee of Filtronic plc, and successfully led the sale of the company to Teledyne Corporation. Dr. Ferguson holds a PhD in Electrical and Electronic Engineering, an MSc in Microwave and Communication Engineering, and a BSc (hons) in Electrical and Electronic Engineering, all from the University of Leeds. He is a Chartered Engineer and a Fellow of the Institution of Engineering and Technology.

Commenting on the appointment, Clive Vacher, President and CEO of Dynex, said, "It gives me great pleasure to welcome Dr. Keith Ferguson to Dynex as our new CTO. This appointment is critical to the success of the company as we accelerate the release to market of high-quality, industry-leading products and technology. We are delighted to have been able to attract such a seasoned technical leader from the electronics sector. Dr. Ferguson’s technical and commercial achievements speak for themselves, and I have great confidence that he will further strengthen our ability to lead the market in high-power semiconductors."

Liu Ke’an, the Chairman of Dynex, added, "We have been very impressed with Dr. Ferguson’s track record technically and commercially. His focus on quality, speed-to-market, and technical excellence is coupled with strong leadership characteristics that will be of great benefit to Dynex. Dr. Ferguson’s appointment adds additional strength to Dynex management, and to what is shaping up to be a very high-quality, dynamic, leadership team."

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.