Our strategy
IQE is focused upon delivering enabling technology which meets performance and price points, and which can be delivered reliably, on-time, and with the ability to scale rapidly.
Progress on strategy
| Investing in the Future of Compound Semiconductors |
|---|
| Strategic Goal | Progress |
- Leveraging and expanding the IP Portfolio
- Developing and launching new products
- Targeting new market entry
- Innovation in integration and miniaturisation
| - Expansion of VCSEL portfolio with turnkey IQVCSEL™ product line
- Achievement of key power and reliability milestones for its IQDN-VCSEL™ technology for advanced sensing applications at longer wavelengths on 150 mm GaAs substrates
- Scaling of IQE’s VCSEL on Ge technology (IQGeVCSEL) to 200 mm
- Focussing our development programmes on market driven solutions. Longer term developments such as cREO® and PQC are being de-prioritised in the short term
- Expanding IP Portfolio – eight new grants and five patents registered in 2021
|
| Scaling the Business for Growth |
|---|
| Strategic Goal | Progress |
- Expand Group capacity
- Qualify customers in strategic markets
- Enhance management controls, systems and processes to enable mass production
| - Capital expenditure of £15.1m focussed on deployment of additional tools to meet demand for IQE’s Wireless products in Asia
- The project to close IQE’s Pennsylvania US site by 2024 and consolidate the Group’s US MBE development and production at the North Carolina US site is on track
- Business systems and process transformation programme on track to provide a consistent, agile and scalable platform for business growth
- Several key appointments made to strengthen the management team
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| Expanding Margins and Cashflows |
|---|
| Strategic Goal | Progress |
- Superior unit economics from superior yields and economies of scale
- Customer and market diversification
- Developing relationships as a materials solutions provider
| - Closure of IQE’s Singapore site by mid-2022, realising c.£4.8m per annum of cash savings
- Long-term strategic collaboration agreement signed with GlobalFoundries® to develop vital GaN on Si technologies for mobile and wireless infrastructure applications
- Multi-year strategic partnership signed with a major semiconductor foundry to develop epiwafers for 5G small cells
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*Report on strategic progress as detailed in our Annual Report and Accounts 2021.
