July 21, 2020 | Montréal, Québec
5N Plus Inc. (“5N Plus” or “the Company”), a leading producer of specialty chemicals and engineered materials, announced today that its subsidiary, 5N Plus Semiconductors, located in St. George, Utah, has successfully completed the development of a new generation of infrared detection wafers made of indium antimonide semiconductor materials. Since its launch, the breakthrough INZBE3 has not only garnered great market interest but has also seen demand for INZBE3 grow rapidly in a number of applications ranging from gas detection for increasingly regulated industrial environments to security and surveillance. 5N Plus expects surging demand through the balance of 2020, as focal plane array manufacturers as well as industrial customers from abroad increase their adoption of INZBE3.
INZBE3 is based on processes and technologies that are unique to 5N Plus. These enable INZBE3 to deliver superior performance, as compared to conventional competing products. Over the past year, 5N Plus has made significant progress in scaling up production of INZBE3 and can now supply this product in various finished semiconductor wafers up to 5 inches in diameter. 5N Plus has collaborated with leading customers to ensure the performance of INZBE3 is materially better than what is currently available in the market and can yield process improvements for customers.
As the leading global supplier of ultra-high-purity semiconductor materials, 5N Plus enables many industries including, renewable energy, medical technology, aerospace, security, surveillance and select Industrial applications. The Company continues to increase its total addressable market by expanding its portfolio of engineered materials. 5N Plus is able to uniquely position itself by partnering with key industry leaders to enable their next generation of products based on semiconductor materials from 5N Plus.
Over the past few years, 5N Plus has invested in its sites located in Montreal, Quebec and St. George, Utah; both of which work in concert to seamlessly manage the various steps within the value chain of engineered semiconductor materials. The Company expects notable contributions from these activities, starting in 2020.
5N Plus is a leading global producer of engineered materials and specialty chemicals with integrated recycling and refining assets to manage the sustainability of its business model. The Company is headquartered in Montreal, Québec, Canada and operates R&D, manufacturing and commercial centers in several locations in Europe, the Americas and Asia. 5N Plus deploys a range of proprietary and proven technologies to manufacture products which are used as enabling precursors by its customers in a number of advanced electronics, optoelectronics, pharmaceutical, health, renewable energy and industrial applications. Many of the materials produced by 5N Plus are critical for the functionality and performance of the products and systems produced by its customers, many of whom are leaders within their industry.
Certain statements in this press release may be forward-looking within the meaning of applicable securities laws. Forward-looking information and statements are based on the best estimates available to the Company at the time and involve known and unknown risks, uncertainties or other factors that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. A description of the risks affecting the Company’s business and activities appears under the heading “Risk and Uncertainties” of the 5N Plus’ 2019 MD&A dated February 25, 2020 and note 10 of the unaudited condensed interim consolidated financial statements for the three-month periods ended March 31, 2020 and 2019 available on www.sedar.com.
The Company is not aware of any significant changes to its risk factors previously disclosed, however since January 2020, the gradual outbreak of the novel strain of the coronavirus, COVID-19 and its eventual declaration as a pandemic by the World Health Organization, has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. These measures have caused material disruption to businesses globally resulting in an economic slowdown. While the Company has been able to mitigate the short-term impact from the crisis without significant loss of production capacity and customer demand, it is not possible to reliably estimate the length, severity and long-term impact the global pandemic may have on the Company's financial results, conditions and cash flows. The outbreak of the COVID-19 should be considered a new risk factor.
Chief Financial Officer
5N Plus Inc.