Ulvac, Inc. · TSE:6728
Ulvac — Investor Presentation (December 2023)
53 slides from Ulvac's investor presentation, Dec 11, 2023
Slide 1: IR Seminar 2023
ULVAC, Inc. IR Seminar 2023 Dec.11, 2023 Please note that the IR seminar materials and explanations have not been prepared for technical purposes, and some parts have been simplified to facilitate investors' understanding. 1
Slide 2: Today's Agenda
＜Today's Agenda＞ I. Double-Sided Evaporation Roll-to-Roll Equipment for EV Batteries Market Trends and Business Development P.6 Yoshiki Iso, General Manager, FPD Division Joined ULVAC in 2002, worked as an engineer of evaporation and sputtering deposition in FPD Division , and worked in PM and plann
Slide 3: Semiconductor and Electronics, Battery markets to grow in the Mid- to Long-Term
4 Semiconductor and Electronics, Battery markets to grow in the Mid- to Long-Term " Smart Society, Digitalization, Metaverse" x "AI" x “Green Energy" Semiconductors and Electronics, Batteries: "Technological Innovation" x “Investment in Production Increasement" Establishment of Regional Supply Chain
Slide 4: Growth Drivers (Power, Various Electronics Devices, Semiconductors and Batteries)
Growth Drivers (Power, Various Electronics Devices, Semiconductors and Batteries) Order Forecast of Growth Drivers FPDs Battery (Unit:¥1 billion) Logic Memory vs. FY23/6 Various Electronic Devices Power Devices Battery › Full-scale investment in mass production of double-sided evaporation 160 1.6 x
Slide 5: Solving Social Issues
7 Supporting the realization of a smart and digital society and green energy through technological innovation Solving Social Issues Smart and Digital Society Green Energy Conversion Realization Low Power Consumption Memory Logic IC Sensor・ Power Device Battery Electronic Devices Miniaturization/ Hig
Slide 6: Double-Sided Evaporation Roll-to-Roll Equipment for EV Batteries Market Trends and Business Development
Double-Sided Evaporation Roll-to-Roll Equipment for EV Batteries Market Trends and Business Development Yoshiki Iso General Manager, FPD Division Yoshiaki Yamamoto Senior Manager, R2R Group, FPD Division Masaki Takei Senior Manager, Applied Vacuum Technology Research Dept. Institute of Advanced Tech
Slide 7: Summary
Summary Today, we will report on the market trend of double-sided evaporation films and manufacturing equipment for EV batteries, as well as on the business development of R2R evaporation equipment for EV batteries Why is Evaporation Film Technology necessary? With the rapid expansion of EVs and EV
Slide 8: EV shift accelerates worldwide
EV shift accelerates worldwide - Prohibit the sales of new internal - Prohibit the sales of new gasoline-powered combustion engine vehicles vehicles by 2035 (gasoline/diesel), including hybrids, by (excluding hybrid vehicles) 2030 Countries declared carbon neutrality targets Big automobile manufactu
Slide 9: EV and Battery Market
EV and Battery Market EV market will grow at an average of 25% per year from 2022 to 2030 EV Battery sales are expected to increase 8 times by 2030 compared to 2022（CAGR 30%） For EV battery Electric Vehicle Battery Market Outlook (Exhibit: SNE Research/SNE Analyst Day 2022) EV (10K Vehicles) Battery
Slide 10: Trends in Battery (LiB) Technology and Vacuum Technology Adoption for Next Generation EVs
Trends in Battery (LiB) Technology and Vacuum Technology Adoption for Next Generation EVs Various components are becoming more energy Energy Density ～300Wh/kg ~400Wh/kg ~500Wh/kg ~600Wh/kg efficient and less in thickness to realize higher performance of EVs batteries Next-Generation (Advanced Cathod
Slide 11: Next-generation EV Battery (LiB) Technology Challenges
Next-generation EV Battery (LiB) Technology Challenges Challenge 1: Safety Improvement Full-scale adoption of double-sided evaporation films for battery components such as Cathode Current Suppression of thermal runaway by short-circuit Collectors (CCC) as a solution to the four technical phenomenon
Slide 12: ULVAC's Battery Strategy
ULVAC's Battery Strategy • R2R equipment for manufacturing double-sided evaporation-type Cathode Current Collector (CCC), based on film capacitor technology, is now in the commercialization stage. • Aiming to achieve medium-term growth by expanding into double-sided evaporation film type for Anode C
Slide 13: Why Focus on Double-sided Evaporation Film CCC?
Why Focus on Double-sided Evaporation Film CCC? Reason 1: Safety Improvement Reason 2: Reduction of size and weight Reason 3: Reduction of material costs Reason 4: Reduction of GHG 13
Slide 14: Why Focus on Double-sided Evaporation Film CCC? Safety Improvement
Why Focus on Double-sided Evaporation Film CCC? Reason 1: Safety Improvement Short-circuits can be suppressed inside the battery Metal foil current collector Double-sided evaporation film nail current collector nail electric current ACC Double-sided electric current evaporation film Resin Film ACC A
Slide 15: Why Focus on Double-sided Evaporation Film CCC? Reduction of size and weight
Why Focus on Double-sided Evaporation Film CCC? Reason 2: Reduction of size and weight Replacing conventional copper and aluminum foil with double-sided evaporation film enables lighter weight and higher energy density Basic Structure of Liquid LiB Double-sided Evaporation Film ACC Double-sided Evap
Slide 16: Why Focus on Double-sided Evaporation Film CCC? Reduction of material costs
Why Focus on Double-sided Evaporation Film CCC? Reason 3: Reduction of material costs Fewer manufacturing processes and wider widths compared to metal foil enable higher productivity and lower manufacturing costs Rolled foil (AL) Electrolytic foil (Vacuum) Evaporation foil (Cu/AL) Rolling roller cat
Slide 17: Why Focus on Double-sided Evaporation Film CCC? Reduction of GHG
Why Focus on Double-sided Evaporation Film CCC? Reason 4: Reduction of GHG Batteries account for more than half of CO2 emissions during EV manufacturing, and 1/3 of that is CCC/ACC CO2 emissions during CO2 emissions during CO2 emissions when manufacturing car batteries EV Manufacturing manufacture o
Slide 18: ULVAC's Differentiating Technology for the Double-sided Evaporation CCC Market
ULVAC's Differentiating Technology for the Double-sided Evaporation CCC Market Double-sided evaporation film CCC manufacturing equipment Film capacitor manufacturing equipment Single-sided Rapid Evaporation Thin Film One time deposition Evaporation Thick Film Evaporation on both sides 7um-m/min. 2um
Slide 19: Market Scale of Double-Sided Evaporation Film CCC/ACC
Market Scale of Double-Sided Evaporation Film CCC/ACC CCC/ACC market and CCC/ACC deposition equipment market are expected to grow faster than the EV market growth rate (CAGR 30%) CCC/ACC market demand Demand for (100 million square meters) deposition equipment 300 10,000 Evs can be produced by 1900
Slide 20: Why Focus on Double-sided Evaporation Film ACC?
Why Focus on Double-sided Evaporation Film ACC? Reason 1: Safety Improvement Reason 5: Reduction of Cu raw materials Demand for copper raw materials Copper raw Reason 2: Reduction of size and weight materials Copper mine under construction supply shortage Copper mines in operation Electrolytic metal
Slide 21: Status of Efforts for Double-sided Evaporation Film ACC
Status of Efforts for Double-sided Evaporation Film ACC Metal foil Double-sided Double-sided thin film evaporation film FY2023 FY2024 FY2025 Copper Copper plating Evaporation Copper Resin Resin Basic Evaluation Application Evaluation plating film Sputtering film Mass production for for mass producti
Slide 22: Why Focus on Lithium Metal Anode?
Why Focus on Lithium Metal Anode? Further reduction of size and weight Basic Structure of Liquid LiB Double-sided Evaporation Film CCC/ACC automatic customer access (code: ACC) Li Metal Anode Graphite Anode Anode Separator Cathode CCC Adoption of Double-sided per MWh unit Liquid LiB Structure Li Ano
Slide 23: Lithium Metal Anode Production Technology Issues
Lithium Metal Anode Production Technology Issues Copper foil conveying technology in vacuum Evaporation of lithium on copper foil The conventional R2R equipment is usually used to deposit on Using the conventional Technology realized for metal conveying system optimized foil transportation highly el
Slide 24: ULVAC's Roll-to Roll Evaporation Technology Contributes to the Next Generation Battery
ULVAC's Roll-to Roll Evaporation Technology Contributes to the Next Generation Battery Energy Density (Wh/kg) Areas of focus for ULVAC 600 ULVAC R&D for HAPS, Drone Battery for New EV Battery Li Metal Battery 400 (Liquid type) Li anode for Solid state Battery Current LiB 200 dozens hundreds thousand
Slide 25: Market Trend of Next Generation Power Devices and Our Approach
Market Trend of Next Generation Power Devices and Our Approach Harunori Iwai General Manager Advanced Electronics Equipment Division Leading the World In Vacuum Technology 25
Slide 26: What is a power device?
1. What is a power device? 2. Market size and trends of power devices 3. SiC power device manufacturing process 4. ULVAC's equipment lineup for SiC 5. Initiatives on GaN 26
Slide 27: Power devices utilized in all fields
Power devices utilized in all fields Mechanical Switch Power Devices electric electric current current when shutting down electrical signal OFF electric electric current current When passing electrical signal through Physical Force ON Compact, fast, long-life switches with no actuators 27
Slide 28: Role of power devices (e.g. EV)
Role of power devices (e.g. EV) • Household Converter power (On-board charger) Alternating AC supply Current (AC) AC DC Conversion converter • Converter Converter Conversion (on-board charger) A D （On-board charger) C C Circuit converting AC power source such as household power supply to DC power fo
Slide 29: Demand for power devices also growing dramatically
Demand for power devices also growing dramatically EV Market Forecast (10,000 units) (Source: SNE Research/SNE Analyst Day 2022) 29
Slide 30: Evolving power devices
Evolving power devices 10000 Train SiC Power capacity (kVA) 1000 low EV 100 Si IGBT Power generation 10 GaN Si MOSFET 1 Communication 0.1 Home appliances 1k 10k 100k 1M 10M Source: Prepared by ULVAC based on "NEDO Technology Operating Frequency (Hz) Strategy Research Center Report Vol.103 Si SiC GaN
Slide 31: Market size and trends of power devices
1. What is a power device? 2. Market size and trends of power devices 3. SiC power device manufacturing process 4. ULVAC's equipment lineup for SiC 5. Initiatives on GaN 31
Slide 32: Growth of SiC and GaN markets
Growth of SiC and GaN markets ($M) Si MOSFET ($M) Si IGBT 20,000 20,000 CAGR (22-27) CAGR (22-27) 15,000 +1.2% 15,000 +10.7% 10,000 10,000 5,000 5,000 0 0 2021 2022 2023F 2024F 2025F 2026F 2027F 2021 2022 2023F 2024F 2025F 2026F 2027F ($M) SiC ($M) GaN 10,000 1,000 CAGR (22-27) CAGR (22-27) 8,000 80
Slide 33: China's Power Device Market Growing with National Production Policy
China's Power Device Market Growing with National Production Policy ($M) Japan ($M) China CAGR(2022-2027) 16,000 16,000 (%) 14,000 14,000 100 12,000 12,000 Si MOSFET ■Si IGBT ■SiC ■GaN 90 10,000 10,000 8,000 8,000 80 6,000 6,000 70 4,000 4,000 60 2,000 2,000 0 0 50 2021 2022 2023F 2024F 2025F 2026F
Slide 34: Increased substrate size and structural changes expand business opportunities
Increased substrate size and structural changes expand business opportunities China Japan Substrate: 6-inch Shift in Structure: Planar Substrate: 6-inch → 8-inch Structure: Planar → Trench *It is expected that 8-inch substrates with trench Substrate warpage: 6 inches, approx. 200um structure will be
Slide 35: SiC power device manufacturing process
1. What is a power device? 2. Market size and trends of power devices 3. SiC power device manufacturing process 4. ULVAC's equipment lineup for SiC 5. Initiatives on GaN 35
Slide 36: Equipment lineup for each process of SiC power devices
Equipment lineup for each process of SiC power devices *Equipment available from ULVAC is shown in () in each ＜Surface process＞ process. N+ injection Al+ injection Carbon Cap Carbon Cap Removal SiO2 mask deposition (Ion Implanter) (Ion Implanter) (SP/CVD, ANL) (Etching) (PECVD) SiO2-HM processing So
Slide 37: ULVAC's Vacuum Technology to Solve SiC Power Device Issues
ULVAC's Vacuum Technology to Solve SiC Power Device Issues Customer issues (VOC) Si SiC issue Device Challenges Ion Implanter Number of Electrolysis Concentration 1) times One time Plural times • Throughput Suppression processed in (Round processing) one process Low damage Ion Implanter • Ion Implan
Slide 38: ULVAC's equipment lineup for SiC
1. What is a power device? 2. Market size and trends of power devices 3. SiC power device manufacturing process 4. ULVAC's equipment lineup for SiC 5. Initiatives on GaN 38
Slide 39: SiC power devices and ULVAC's contributions
SiC power devices and ULVAC's contributions Existing challenges Technology and Key technologies to Customer issues Final product of the system products adapted to solve challenges (VOC) constraints ULVAC Applicable Technologies System System task Key technology Device Challenges and Products Electro
Slide 40: SiC power devices and ULVAC's contributions
SiC power devices and ULVAC's contributions Existing challenges Technology and Key technologies to Customer issues Final product of the system products adapted to solve challenges (VOC) constraints ULVAC Applicable Technologies System System task Key technology Device Challenges and Products Electro
Slide 41: Strengths of Ion Implanter
Strengths of Ion Implanter High productivity due to high/low temperature dual platen Need to change the settings at companies changeover other ⇒ Downtime occurs Down Time Two units are needed to ensure production volume High Low Immediate response with recipes temperature temperature switching betwe
Slide 42: SiC power devices and ULVAC's contributions
SiC power devices and ULVAC's contributions Existing challenges Technology and Key technologies to Customer issues Final product of the system products adapted to solve challenges (VOC) constraints ULVAC Applicable Technologies System System task Key technology Device Challenges and Products Electro
Slide 43: Strengths of Sputtering Equipment
Strengths of Sputtering Equipment Transport reliability for warped substrates SiC Si Warp (~ several hundred um) Almost flat ULVAC's technology supports the transport of substrates with large warpage. ⇒High transfer reliability for expensive SiC substrates uGmni-200S Controlling board warpage throug
Slide 44: SiC power devices and ULVAC's contributions
SiC power devices and ULVAC's contributions Existing challenges Technology and Key technologies to Customer issues Final product of the system products adapted to solve challenges (VOC) constraints ULVAC Applicable Technologies System System task Key technology Device Challenges and Products Electro
Slide 45: Strengths of Etching Equipment
Strengths of Etching Equipment Device performance improvement by processing geometry control General Processing Applying ULVAC Technology p+ n+ n+ p+ smoothing p the side p wall n- n- rounding the corner n+ n+ Geometry controlled by ULVAC technology ⇒ Improved device characteristics New Plasma Sourc
Slide 46: Mass Production Equipment Lineup for SiC Power Devices
Mass Production Equipment Lineup for SiC Power Devices Ion Implantation Ion Plantation System • High/low temperature processes handled by a single unit. • Wide energy range IH series • Supporting 8-inch substrates Sputtering Sputtering System • Warped substrate transfer SRH-420 • Stress control of t
Slide 47: Initiatives on GaN
1. What is a power device? 2. Market size and trends of power devices 3. SiC power device manufacturing process 4. ULVAC's equipment lineup for SiC 5. Initiatives on GaN 47
Slide 48: Equipment Lineup for GaN Power Devices
Equipment Lineup for GaN Power Devices Customer issues (VOC) Existing challenges of the Key Technologies to Solve Technology and products Final product system constraints Challenges (Equipment manufacturer adapted to ULVAC support) Applicable Technologies System System task Key technology Device Cha
Slide 49: Equipment Lineup for GaN Power Devices
Equipment Lineup for GaN Power Devices Customer issues (VOC) Existing challenges of the Key Technologies to Solve Technology and products Final product system constraints Challenges (Equipment manufacturer adapted to ULVAC support) Applicable Technologies System System task Key technology Device Cha
Slide 50: ULVAC's Strengths in Etching Equipment for GaN Power Devices
ULVAC’s Strengths in Etching Equipment for GaN Power Devices Horizontal GaN Vertical GaN Situation: Equipment Development Completed Development completed Development of Etching equipment for GaN Device Mass-production in progress Process adjustment in progress -Collaboration with Nagoya University S
Slide 51: Equipment Lineup for GaN Power Devices
Equipment Lineup for GaN Power Devices Customer issues (VOC) Existing challenges of the Key Technologies to Solve Technology and products Final product system constraints Challenges (Equipment manufacturer adapted to ULVAC support) Applicable Technologies System System task Key technology Device Cha
Slide 52: Strengths of Sputtering Equipment for GaN Power Devices
Strengths of Sputtering Equipment for GaN Power Devices ■Only Ga, N2 , Ar and Si or Ge are used as deposition materials. ■Low temperature growth at <700°C ■High carrier density n-GaN [1.0E20 (/cm3 )] ■8-inch substrate in-plane uniformity [＜±10] MOCVD GaN Sputtering Deposition temperature Over 1000°C
Slide 53: Vacuum technology for manufacturing
Vacuum technology for manufacturing 53