CHICAGO, December 17, 2015 – As part of the company’s strategy to move more significantly into power semiconductors for industrial and automotive markets, Littelfuse has made an investment in Monolith Semiconductor, Inc., a start-up company developing silicon carbide technology. Silicon carbide is a rapidly emerging semiconductor material that enables power devices to operate at higher switching frequencies and temperatures versus conventional silicon. This allows inverters and other energy conversion systems to be built with significantly improved power density, energy efficiency and cost.
“Investing in and partnering with Monolith’s experienced team of silicon carbide and power semiconductor experts allows us to quickly evolve our portfolio with strategically relevant and innovative technology,” said Ian Highley, Littelfuse Senior VP and GM, Semiconductor Products, and CTO. “Silicon carbide power technology is among the most promising advancements in the semiconductor market today. It will be an important tool in helping us solve complex problems for our customers.”
“Forming this strategic partnership with Littelfuse accelerates development and helps bring silicon carbide technology to the market,” said Sujit Banerjee, PhD, CEO of Monolith Semiconductor. “Littelfuse is an ideal partner for us. We are excited to dramatically increase our customer reach, gain access to global channels, and benefit from their sales and marketing depth and expertise.”
Initially this is not a material investment for Littelfuse; however, the company has committed to add to its investment once Monolith has achieved certain milestones. This investment is not expected to have any material financial impact on Littelfuse in 2015 or 2016.
Senior VP and GM, Semiconductor Products, and CTO
Founded in 1927, Littelfuse is the world leader in protection with growing global platforms in power controls and sensing. The company serves global customers in the electronics, automotive and industrial markets with technologies including fuses, semiconductors, polymers, ceramics, relays and sensors. Littelfuse has over 8,000 employees in more than 35 locations throughout the Americas, Europe and Asia. For more information, please visit the Littelfuse website: Littelfuse.com.
About Monolith Semiconductor
Monolith Semiconductor Inc., a Round Rock, Texas-based startup company, is focused on improving the affordability and reliability of SiC power devices by utilizing advanced manufacturing techniques and high-performance processes and designs. For more information, please visit the Monolith Semiconductor website: monolithsemi.com.
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The statements in this press release that are not historical facts are intended to constitute “forward-looking statements” entitled to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may involve risks and uncertainties, including, but not limited to, risks relating to product demand and market acceptance, economic conditions, the impact of competitive products and pricing, product quality problems or product recalls, capacity and supply difficulties or constraints, coal mining exposures reserves, failure of an indemnification for environmental liability, exchange rate fluctuations, commodity price fluctuations, the effect of the company’s accounting policies, labor disputes, restructuring costs in excess of expectations, pension plan asset returns less than assumed, integration of acquisitions, the ability to realize the anticipated benefits of the investment, and other risks which may be detailed in the company’s other Securities and Exchange Commission filings. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, actual results and outcomes may differ materially from those indicated or implied in the forward-looking statements. This press release should be read in conjunction with information provided in the financial statements appearing in the company’s Annual Report on Form 10-K for the year ended December 27, 2014. For a further discussion of the risk factors of the company, please see Item 1A. “Risk Factors” to the company’s Annual Report on Form 10-K for the year ended December 27, 2014.