Intevac Receives MATRIX PVD System Order from Tier 1 Solar Cell Manufacturer

Thu, September 3 2015

Additional Solar Customer Adopts Intevac’s PVD Solution

SANTA CLARA, Calif.--(BUSINESS WIRE)-- Intevac, Inc. (NASDAQ:IVAC), a leading supplier of thin-film deposition equipment to the vacuum coating industry, today announced the order of an INTEVAC MATRIX™ thin-film processing system, by a Tier 1 solar cell manufacturer, for high-efficiency photovoltaic (PV) cell manufacturing. This new customer for MATRIX PVD (physical vapor deposition) will use the system to deposit integrated metal film stacks in advanced silicon solar cell designs, utilizing processes qualified in recent development work with Intevac. The system is scheduled to ship in the second quarter of 2016.

With its best-in-class cost of ownership advantage for solar cell manufacturing, the INTEVAC MATRIX system is rapidly becoming the process tool of record for advanced metallization, and other high-volume, leading-edge processing applications in the PV industry.

Wendell Blonigan, Intevac’s president and chief executive officer, commented about the order: “The MATRIX PVD system order we are announcing today from yet another Tier 1 solar cell manufacturer demonstrates the significant progress we have made in our Thin-Film Equipment growth strategy. We are leveraging Intevac's production-proven capabilities in our core technologies, in this case our PVD sputtering technology, and extending those capabilities into adjacent markets. The INTEVAC MATRIX combines high-throughput deposition technology with a substrate-independent platform that provides versatility for broader applications in precision thin-film deposition, and we are pleased that its technical and cost-of-ownership advantages are being recognized with orders by multiple leading customers in the solar cell manufacturing industry."


INTEVAC MATRIX™ leverages Intevac’s core capabilities in high-throughput, precise thin film deposition and ports them to applications beyond hard disk drive media. The MATRIX is a substrate-independent platform for multiple thin film applications; from its compact, modular design to its automated transport system, every aspect of MATRIX is optimized to maximize productivity and minimize Cost of Ownership. Enabled by a carrier-based transport system that accommodates variously sized substrates, the system can be configured with multiple thin film deposition technologies for in-line sequential processing. The MATRIX architecture allows for double-sided deposition without breaking vacuum, as well as for deposition in horizontal or vertical substrate orientations.

About Intevac

Intevac was founded in 1991 and has two businesses: Thin-Film Equipment and Photonics.

In our Thin-Film Equipment business, we are a leader in the design and development of high-productivity, thin-film processing systems. Our production-proven platforms are designed for high-volume manufacturing of substrates with precise thin film properties.

Intevac is the market and technology leader in the hard drive industry, with our systems processing approximately 60% of all magnetic disk media produced worldwide. Our high-performance, high-throughput technology solutions continue to expand into additional markets – including solar and adjacent thin film deposition applications.

In our Photonics business, we are a recognized leading developer of advanced high-sensitivity digital sensors, cameras and systems that primarily serve the defense industry. We are the provider of integrated digital night vision imaging systems for the U.S. military.

INTEVAC MATRIX™ is a trademark of Intevac, Inc.

For more information, call 408.986.9899, or visit www.intevac.com.

Forward-Looking Statements

This press release includes statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Reform Act”). Intevac claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These forward-looking statements are often characterized by the terms “may,” “believes,“ “projects,” “expects,” or “anticipates,” and do not reflect historical facts. Specific forward-looking statements contained in this press release include, but are not limited to; the timing of the MATRIX system shipment, and the expected uses of the system. The forward-looking statements contained herein involve risks and uncertainties that could cause actual results to differ materially from the company’s expectations. These risks include, but are not limited to: the failure to meet planned shipment dates and/or address planned applications for the system, which could have a material impact on our business, our financial results, and the company's stock price. These risks and other factors are detailed in the company’s regular filings with the U.S. Securities and Exchange Commission.

Intevac, Inc.
Jim Moniz, 408-986-9888
Chief Financial Officer
Claire McAdams, 530-265-9899
Investor Relations

Source: Intevac, Inc.