Veeco Instruments Inc.: Veeco Receives Propel300 MOCVD System Order From Leading GaN-on-Si Power Semiconductor IDM

PLAINVIEW, N.Y., Nov. 05, 2025 (GLOBE NEWSWIRE) -- Veeco Instruments Inc. (NASDAQ: VECO) announced today receipt of an order for a Propel®300 system from a major power semiconductor integrated device manufacturer (IDM) for gallium nitride (GaN) epitaxy on 300mm silicon (Si) wafers. This order cements Veeco's position as a leader in 300mm MOCVD technology, building on years of experience including previous shipments of the Propel®300 platform for various applications across the compound semiconductor industry.

"Qualifying Propel®300 for 300mm GaN-on-Si epitaxy for power devices is a significant achievement in the path to widespread adoption of GaN technology," commented Anil Vijayendran, Vice President, MOCVD Product Line Management. "Moving from 200mm to 300mm enables customers to achieve 2.3 times more chips per wafer, while allowing them to use existing 300mm production lines, and ultimately lower their device costs"

GaN's high efficiency and superior thermal and switching properties, which can significantly reduce device and overall system size and weight, are accelerating its adoption in power semiconductor manufacturing. According to Yole Group, the GaN device market is expected to grow at a 35% CAGR from $555M in 2025 to $2.5B in 2030. Key to this growth will be the increased adoption of GaN technology in automotive, industrial, and data center applications, where the continuously rising power consumption requirements of AI workloads are fueling demand for more efficient power supplies.

Featuring Veeco's proven MOCVD TurboDisc technology, Propel®300 combines exceptional performance with fully automated wafer handling to provide not only best-in-class thickness and doping uniformity but also low defectivity and high productivity. These benefits, together with its industry-renowned ease of use and long campaigns that do not require in-situ cleaning, contribute to Propel®300's low cost of ownership per wafer.

About Veeco

Veeco (NASDAQ: VECO) is an innovative manufacturer of semiconductor process equipment. Our laser annealing, ion beam, metal organic chemical vapor deposition (MOCVD), single wafer etch & clean and lithography technologies play an integral role in the fabrication and packaging of advanced semiconductor devices. With equipment designed to optimize performance, yield and cost of ownership, Veeco holds leading technology positions in the markets we serve. To learn more about Veeco's systems and service offerings, visit www.veeco.com.

To the extent that this news release discusses expectations or otherwise makes statements about the future, such statements are forward-looking and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include the risks discussed in the Business Description and Management's Discussion and Analysis sections of Veeco's Annual Report on Form 10-K for the year ended December 31, 2024 and in our subsequent quarterly reports on Form 10-Q, current reports on Form 8-K and press releases. Veeco does not undertake any obligation to update any forward-looking statements to reflect future events or circumstances after the date of such statements.

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