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Navitas Semiconductor Debuts Trading on Nasdaq
- Next-generation power semiconductor leader will "Electrify Our World™" - CEO rings Nasdaq opening bell as NVTS debuts after only 7 years as start-up - Over
About this update from Navitas Semiconductor Corporation
[{"type":"text","content":"- Next-generation power semiconductor leader will \"Electrify Our World™\"\n - CEO rings Nasdaq opening bell as NVTS debuts after only 7 years as start-up\n - Over $1B enterprise value, and over $320M raise for new markets expansion\n\n\nEL SEGUNDO, Calif., Oct. 20, 2021 /PRNewswire/ -- Navitas Semiconductor (\"Navitas\"), the industry leader in GaN power ICs, began trading today on the Nasdaq Global Market under the ticker \"NVTS\". CEO Gene Sheridan, accompanied by members of the company's leadership team, celebrated Navitas' first day of trading by ringing the bell at the Nasdaq MarketSite in New York. \n\n \n \n \n \n \n \n\n \nNavitas Semiconductor (\"Navitas\"), began trading today on the Nasdaq Global Market under the ticker \"NVTS\". Gallium nitride (GaN) is a next-generation semiconductor technology that runs up to 20x faster than legacy silicon, and enables up to 3x more power and 3x faster charging in half the size and weight. Navitas' GaNFast™ power ICs integrate GaN power and drive plus protection and control to deliver simple, small, fast and efficient performance. GaNFast power ICs are integrated in over 130 mobile chargers, which is more than all other GaN companies combined, and includes fast chargers from Xiaomi, Dell, Lenovo, LG, Amazon, OPPO, Anker, Belkin and dozens of other major OEMs. As of October 2021, over 30 million GaNFast power ICs had been shipped with zero field failures, demonstrating excellent quality and reliability in the mobile market, and paving the way for expansion into consumer, solar, energy storage, data center and EV markets.\nAll of Navitas' co-founders are still with the company and celebrated at the Nasdaq podium, including Gene Sheridan, CEO, Dan Kinzer, COO/CTO, Nick Fichtenbaum, VP Engineering and Jason Zhang, VP Applications and Technical Marketing. With over 130 patents issued or pending, and significant trade secrets including a proprietary process design kit (PDK), Navitas believes it has a multi-year lead in next-generation GaN power ICs.\nThe opening bell ceremony was broadcast live by TV networks including Fox, CNBC, and Bloomberg, and live-streamed via Facebook to the entire Navitas team and investors around the world, with local parties in Los Angeles, Shanghai, Shenzhen, Taipei, Manila and many other Navitas locations.\n\"It's an exciting day, and a great chance to congr...