Veeco disclosed a new order for its Propel 300 MOCVD system from a leading power‑semiconductor integrated device manufacturer for gallium‑nitride (GaN) epitaxy on 300‑mm silicon wafers. The order confirms continued demand for Veeco’s 300‑mm MOCVD platform, which delivers high uniformity, low defectivity, and high productivity.
The Propel 300 platform is engineered to support the industry shift to 300‑mm wafers, which can increase chip yield by 2.3 times compared with 200‑mm wafers. This shift is driven by automotive, industrial, and data‑center customers seeking higher power efficiency and smaller form factors. Veeco’s technology, featuring TurboDisc MOCVD and automated wafer handling, positions it as a key supplier for next‑generation power devices.
The order was announced in the same release that reported Veeco’s Q3 2025 earnings. The company guided Q3 revenue to $150‑$170 million and non‑GAAP diluted EPS to $0.20‑$0.35, reflecting strong demand in its advanced packaging and EUV mask‑blank segments. The order adds a new revenue stream that is expected to contribute to the upper end of the guidance range.
Management highlighted the significance of the order. CEO Bill Miller said the deal underscores Veeco’s leadership in 300‑mm MOCVD and its ability to meet the stringent performance and cost requirements of leading semiconductor manufacturers. Vice President Anil Vijayendran added that qualifying the Propel 300 for 300‑mm GaN‑on‑Si epitaxy is a “significant achievement in the path to widespread adoption of GaN technology.”
The order comes at a time when the GaN device market is projected to grow at a 35 % CAGR to $2.5 billion by 2030, driven by automotive, industrial, and data‑center applications. Veeco’s expansion into 300‑mm wafers aligns with the broader industry trend toward larger wafers to improve manufacturing efficiency and reduce costs, giving the company a competitive advantage in the high‑growth power‑semiconductor segment.
While the order itself does not disclose a value or timeline, it signals Veeco’s continued traction in the high‑growth GaN‑on‑Si market and reinforces its strategic focus on 300‑mm MOCVD solutions. The company’s recent earnings performance, with a Q2 2025 revenue of $166.1 million and a 13 % YoY increase, supports the view that Veeco is well positioned to capture future orders as the GaN‑on‑Si market matures.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.