Axt, Inc.
AXT, Inc. Announces Long-Term Supply Agreement with Lumentum
Summary
AXT, Inc. has entered into a six-year Capacity Reservation Agreement with Lumentum Operations, LLC for the supply of indium phosphide wafer substrates. Under the terms of the agreement, AXT will reserve a minimum annual commitment of the substrates for Lumentum, with an initial deposit of $43,500,000 due within 30 business days and a second deposit of $43,500,000 to be determined in 2028. The deposits will be applied as shipment credits towards the purchase of the substrates. The agreement can be renewed for additional one-year periods.
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About Axt, Inc.
Axt, Inc. is a leading producer of high-performance compound semiconductor substrates. These substrates, such as gallium arsenide (GaAs), enable the efficient functioning of a diverse range of electronic and optoelectronic devices. Axt, Inc. plays a crucial role in enhancing the performance of high-frequency, high-power, and optically sensitive applications. The primary use of these substrates is found in industries like telecommunications, light-emitting diodes (LEDs), and solar cells. With its production facilities located primarily in China, Axt, Inc. serves a global market, catering to technology companies that require high-quality semiconductor materials. Through its extensive research and development initiatives, the company continually innovates to meet the growing demand for substrate materials that support advanced technology products. As a significant provider in the semiconductor supply chain, Axt, Inc. contributes to the advancement of next-generation technologies, supporting sectors that are critical to modern electronics and renewable energy solutions.
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