Efficient Power Conversion Corporation
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The eGaN ® FET<br />
Journey Continues<br />
<strong>Efficient</strong> <strong>Power</strong> <strong>Conversion</strong> <strong>Corporation</strong><br />
EPC - The Leader in eGaN® FETs Credit Suisse May 2012<br />
www.epc-co.com 1
Background for Strategy<br />
• <strong>Power</strong> Management is a large and growing<br />
market<br />
• Silicon has reached performance limits<br />
• EPC has developed proprietary<br />
enhancement-mode GaN technology<br />
(eGaN ® ) that allows EPC’s FETs to broadly<br />
replace power MOSFETs<br />
• Manufacturing platform is inherently cost<br />
effective, and will quickly be less expensive<br />
to produce per area than silicon<br />
EPC - The Leader in eGaN® FETs Credit Suisse May 2012 www.epc-co.com 2 2
Why Gallium Nitride?<br />
EPC - The Leader in eGaN® FETs Credit Suisse May 2012<br />
www.epc-co.com 3
eGaN ® FETs are Smaller<br />
200V Silicon Device<br />
(30 milli Ohms)<br />
200V GaN Device<br />
(25 milli Ohms)<br />
EPC 4 - The Leader in eGaN® FETs Credit Suisse May 2012<br />
www.epc-co.com 4
eGaN ® FETs are Faster<br />
FOM = Rdson x Qg (100V)<br />
500<br />
400<br />
300<br />
200<br />
100<br />
0<br />
EPC2001 BSC109N10NS3 IRFH5030 SiR870DP FDMS86101<br />
Source: Infineon, International Rectifier, Siliconix, and Fairchild data sheets<br />
EPC - The Leader in eGaN® FETs Credit Suisse May 2012<br />
www.epc-co.com 5
eGaN ® FETs are More <strong>Efficient</strong><br />
Efficiency comparison @ 12 V OUT<br />
Source: EPC and Ericsson<br />
EPC 6 - The Leader in eGaN® FETs Credit Suisse May 2012<br />
www.epc-co.com 6
eGaN ® FETs Can Be Cheaper<br />
2011 2015<br />
Starting Material<br />
Epi Growth<br />
Wafer Fab<br />
Test<br />
Assembly<br />
OVERALL<br />
same<br />
higher<br />
same<br />
same<br />
lower<br />
higher<br />
same<br />
~same<br />
lower<br />
same<br />
lower<br />
lower<br />
Source: EPC<br />
EPC - The Leader in eGaN® FETs Credit Suisse May 2012<br />
www.epc-co.com 7
Market Forecasts<br />
EPC - The Leader in eGaN® FETs Credit Suisse May 2012<br />
www.epc-co.com 8
Served Available Market (SAM)<br />
Percent Share of 2010 <strong>Power</strong> Transistor<br />
Market<br />
Source: IC Insights<br />
50%<br />
40%<br />
30%<br />
20%<br />
10%<br />
0%<br />
Bipolar<br />
$970M<br />
Bipolar Modules<br />
$49M<br />
RF/Microwave<br />
$1.3B<br />
FET Modules<br />
$232M<br />
<strong>Power</strong> FET<br />
(up to 200V)<br />
$4.6B<br />
<strong>Power</strong> FET<br />
(over 200V)<br />
$1.7B<br />
4% 5% 6% 7% 8%<br />
2010-2015 CAGR<br />
Total = $12B in 2015<br />
IGBTs<br />
$878M<br />
IGBT modules<br />
$2.3B<br />
EPC - The Leader in eGaN® FETs Credit Suisse May 2012<br />
www.epc-co.com 9
<strong>Power</strong> ICs Add to the SAM<br />
$18<br />
$16<br />
$14<br />
Market Size ($B)<br />
$12<br />
$10<br />
$8<br />
$6<br />
$4<br />
$2<br />
$0<br />
Transistors<br />
<strong>Power</strong> Module<br />
<strong>Power</strong> IC<br />
Source: Yole Development<br />
Total = $18B in 2015<br />
EPC - The Leader in eGaN® FETs Credit Suisse May 2012<br />
www.epc-co.com 10
GaN Market Projection<br />
Total = $350M for GaN in 2015<br />
Source: Yole Development<br />
EPC - The Leader in eGaN® FETs Credit Suisse May 2012<br />
www.epc-co.com 11
Key Applications 2011-2013<br />
• Wireless <strong>Power</strong> Transmission<br />
• RF DC-DC “Envelope Tracking”<br />
• <strong>Power</strong> Over Ethernet<br />
• RF Transmission<br />
• Network and Server <strong>Power</strong> Supplies<br />
• <strong>Power</strong> Factor Correction<br />
• Point of Load Modules<br />
• Solar Microinverters<br />
• Energy <strong>Efficient</strong> Lighting<br />
• UPS Systems<br />
• Class D Audio<br />
• RadHard<br />
EPC - The Leader in eGaN® FETs Credit Suisse May 2012<br />
www.epc-co.com 12
Key Applications 2013-2016<br />
• PC and Notebook <strong>Power</strong> Supply<br />
• Appliance and Industrial Motor Drive<br />
• Cell Phones<br />
• Electric Bicycle<br />
• Hybrid and Electric Vehicles<br />
EPC - The Leader in eGaN® FETs Credit Suisse May 2012<br />
www.epc-co.com 13
<strong>Efficient</strong> <strong>Power</strong> <strong>Conversion</strong><br />
EPC - The Leader in eGaN® FETs Credit Suisse May 2012<br />
www.epc-co.com 14
EPC Leadership Team<br />
Alexander Lidow Ph.D:<br />
PhD Stanford 1977<br />
Co-Inventor of HEXFET Transistor<br />
CEO of International Rectifier 1995-2007<br />
Joe Cao Ph.D:<br />
PhD Berkeley 1996<br />
<strong>Power</strong> MOSFET and GaN Experience at International Rectifier<br />
Robert A. Beach Ph.D:<br />
PhD Caltech 2001<br />
Co-Founded GaNRose to produce gallium nitride transistors<br />
Sold GaNRose to International Rectifier in 2003<br />
EPC has a total of 20 full time employees, 10 of whom<br />
have PhDs in closely related fields<br />
EPC - The Leader in eGaN® FETs Credit Suisse May 2012<br />
www.epc-co.com 15
EPC Supply Chain<br />
Epi &<br />
Wafer Fab<br />
WAT &<br />
Sample Probe<br />
Bump<br />
Final Test<br />
EPC has designed<br />
a supply chain that<br />
is mature, efficient,<br />
responsive, and<br />
can ramp quickly<br />
Episil<br />
KYEC<br />
Ship<br />
Saw<br />
QA &<br />
Visual<br />
Pack<br />
Invoice<br />
EPC 16 - The Leader in eGaN® FETs Credit Suisse May 2012<br />
www.epc-co.com 16
Strategic Partners<br />
Texas Instruments<br />
– Driver ICs<br />
Microsemi<br />
– Hi Rel and Radiation Hard Transistors<br />
EPC - The Leader in eGaN® FETs Credit Suisse May 2012<br />
www.epc-co.com 17
Competitive Strategy<br />
Silicon <strong>Power</strong> MOSFETs<br />
GaN Devices<br />
Infineon<br />
Vishay<br />
International<br />
Rectifier (IR)<br />
Fairchild<br />
Renasas<br />
IR<br />
Transphorm<br />
MicroGaN<br />
GaN Systems<br />
Fujitsu<br />
Ciclon/TI<br />
EPC - The Leader in eGaN® FETs Credit Suisse May 2012<br />
www.epc-co.com 18
Selected Awards<br />
LM5113<br />
EE Times 2010 Green<br />
Technology ACE Award<br />
EPC - The Leader in eGaN® FETs Credit Suisse May 2012<br />
www.epc-co.com 19
Summary<br />
• EPC is privately funded and just concluded a D-<br />
Round of financing<br />
• eGaN ® technology is disruptive<br />
• Management is the most experienced in the<br />
power industry<br />
• EPC’s supply chain is mature<br />
• TI and Microsemi are helping to establish EPC’s<br />
eGaN FETs as industry standards<br />
• EPC is now shipping eGaN FETs to > 500<br />
customers worldwide<br />
EPC - The Leader in eGaN® FETs Credit Suisse May 2012<br />
www.epc-co.com 20
The end of the road<br />
for silicon…..<br />
is the beginning of<br />
the eGaN FET<br />
journey!<br />
EPC - The Leader in eGaN® FETs Credit Suisse May 2012<br />
www.epc-co.com 21
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