Intevac Announces Multi-System Order for ENERGi™ Implant Systems

Wed, May 25 2016

SANTA CLARA, Calif.--(BUSINESS WIRE)-- Intevac, Inc. (Nasdaq:IVAC), a leading supplier of thin-film processing systems, today announced the receipt of an order for two ENERGi™ ion implant systems for advanced solar cell manufacturing.

“This new order for systems configured with our ion implantation source technology demonstrates continued and meaningful progress in our Thin-film Equipment growth strategy,” commented Wendell Blonigan, president and chief executive officer of Intevac. “Securing this order from a leading solar cell manufacturer in China validates the capability and value proposition of our implant technology for high-efficiency solar cell manufacturing. These two systems are expected to ship in the second half of 2016 and will require signed customer acceptance before we recognize revenue on the tools."

“We are excited to forge this strong relationship with a leading cell manufacturer for precision emitter formation for high-volume manufacturing”, said Chris Smith, vice president of business development for Intevac’s Thin-film Equipment business.

About the ENERGi™

Intevac’s ENERGi™ ion implant system, designed specifically for c-Si solar cell manufacturing, brings all the benefits of increased productivity, high throughput, maximum efficiency and lower cost to the solar industry. ENERGi serves today’s critical requirements and is extendible to meet the ongoing technology advancement of cell performance.

ENERGi™ is a registered trademark of Intevac, Inc.

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, such as the hard drive media, display cover panel, and solar photovoltaic markets we serve currently.

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 imaging systems for most U.S. military night vision programs.

For more information call 408-986-9888, or visit the Company's website at www.intevac.com.

Safe Harbor Statement

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 ENERGi™ tool shipments. 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, 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 periodic filings with the U.S. Securities and Exchange Commission.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160525005400/en/

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

Source: Intevac, Inc.