Navitas: World's First CarbonNeutral®-Certified Semiconductor Company
Advances mission to "Electrify Our World™" as each next-gen GaN power IC saves 4 kg CO2
EL SEGUNDO, Calif., May 27, 2022 (GLOBE NEWSWIRE) -- Navitas Semiconductor, industry-leader in GaN power ICs, announced that it is the world's first semiconductor company to achieve CarbonNeutral®-company certification from the leading experts on carbon-neutrality and climate finance, Natural Capital Partners. Achieving CarbonNeutral-company certification is another milestone towards Navitas' mission to "Electrify Our World" and to help Navitas' customers achieve their own sustainability goals.
Gallium nitride (GaN) is a next-generation semiconductor technology that runs up to 20x faster than legacy silicon and enables up to 3x more power, 40% energy savings and 3x faster charging in half the size and weight. Navitas' GaNFast™ power ICs integrate GaN power and drive plus sensing, protection and control to deliver simple, small, fast and efficient power-conversion performance.
Navitas is the market-leader in GaN power semiconductors with over 50,000,000 units shipped, zero reported GaN-related field-failures, and a 20-year warranty. Similar industry-leadership in sustainability can be charted through a series of milestones, backed by third-party partnerships, and verified analysis:
- May 2021: First power GaN company to commit to the Paris Accord's 1.5°C target, via Science-Based Targets Initiative (SBTi)
- Aug 2021: Completed Organization Life Cycle Assessment (LCA) with 3rd party LCA expert EarthShift Global, quantifying Navitas Scopes 1-3 carbon impacts for all corporate and supplier impacts in 2020
- Jan 2022: Completed ISO14040/14044-compliant comparative Life Cycle Assessment of a GaN Power IC vs. Si high-voltage FET and GaN-based 65W USB-C charger vs. Si-based 65W USB-C charger, demonstrating significant carbon-savings benefits of GaN vs. Si devices and USB-C chargers
- Jan 2022: Repeated Organization Life Cycle Assessment (LCA) with 3rd party LCA expert EarthShift Global, quantifying Navitas Scopes 1-3 carbon impacts for all corporate and supplier-impacts in 2021
- Feb 2022: First power GaN company to publish a sustainability report that comprehensively quantifies the positive impact of GaN power semiconductors on climate change based on global standards, verified by EarthShift Global
- May 2022: First semiconductor company to achieve CarbonNeutral-company certification from the leading experts on carbon-neutrality and climate finance, Natural Capital Partners
Through extensive, 3rd party verified analysis Navitas has shown that GaN devices currently have a 70% reduction in carbon footprint to produce vs. Si and drive a 30%+ reduction in manufacturing and use phase impacts for our customers. Combining GaN's inherent benefits with Navitas' low carbon-footprint business-model has led to Navitas achieving CarbonNeutral-company certification.
Navitas has quantified all Scope 1-3 emissions for the past 2 years of operations and is committed to continue annual reporting of emissions as we work to reduce emissions intensity and pursue a mission to replace Si devices with lower carbon-footprint GaN solutions.
Navitas' CarbonNeutral-company certification meets all the requirements of Natural Capital Partners' CarbonNeutral Protocol and goes beyond, to include all product manufacturing and distribution-related emissions. These emissions are compensated for through verified emission reductions (VERs), also known as ‘carbon offsets'. Navitas' purchased VERs are renewable-energy projects in rural India – in line with the mission to "Electrify Our World" and transition from fossil fuels.
"CarbonNeutral-company certification is a major sustainability achievement for Navitas, in parallel with significant increases in GaN power IC production," said Anthony Schiro Navitas VP of Quality & Sustainability. "Natural Capital Partners' support has been critical, guiding us to constructive, verified company metrics and credible offsets. Manufacturing a GaN power IC has a 4x-10x lower CO2 footprint than for a silicon chip, and when you consider the end use power application, the improved efficiency and reduction in materials, size and weight of the charger, delivers a 4 kg net-reduction in CO2 emissions for every GaN IC shipped."
"Navitas joins a future-focused group including Microsoft, Logitech, VMware and Sky in working with Natural Capital Partners to source high-quality offsets that deliver on the UN's Global Goals for maximum impact," said Saskia Feast, Managing Director, Global Client Solutions at Natural Capital Partners. "All our projects are independently validated and verified, ensuring our clients' climate action is robust."
"Our customers - like Samsung, Dell, Xiaomi and Lenovo – all have critical sustainability goals and can appreciate the huge CO2-reduction benefits delivered by GaN power ICs vs. the old, slow silicon chips," said Gene Sheridan, Navitas CEO and co-founder. "In the big picture, GaN has the potential to reduce up to 2.6 Gton / year in CO2 emissions by 2050."
About Natural Capital Partners
With more than 300 clients in 34 countries, including Microsoft, MetLife, Logitech, PwC, Sky and Ørsted, Natural Capital Partners is harnessing the power of business to create a more sustainable world. Through a global network of projects, the company delivers the highest quality solutions which make real change possible: reducing carbon emissions, generating renewable energy, building resilience in supply chains, conserving and restoring forests and biodiversity, and improving health and livelihoods.
Natural Capital Partners was founded in 1997 and has teams in the US, Europe and Central America. It has been recognized as Environmental Finance Best Offset Retailer 10 times.
The CarbonNeutral Protocol was created and is managed by Natural Capital Partners. It was the first clear set of guidelines for businesses to achieve carbon neutrality back in 2002, and every year since then Natural Capital Partners has continued its commitment to providing a robust framework for clear, transparent, and high-quality carbon-neutral action. The Protocol is updated annually with input from an Advisory Council of external experts to ensure it reflects the latest industry and scientific best practice.
About Navitas
Navitas Semiconductor (NASDAQ:NVTS) is the industry leader in GaN power ICs, founded in 2014. GaN power ICs integrate GaN power with drive, control, sensing and protection to enable faster charging, higher power density and greater energy savings for mobile, consumer, enterprise, eMobility and new energy markets. Over 150 Navitas patents are issued or pending, and over 50 million units have been shipped with zero reported GaN field failures. Navitas rang the Nasdaq opening bell and started trading on Nasdaq on October 20th, 2021.
Navitas Semiconductor, GaNFast and the Navitas logo are trademarks or registered trademarks of Navitas Semiconductor Limited. CarbonNeutral is a registered trademark of Natural Capital Partners. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.
Contact:
Stephen Oliver, VP Corporate Marketing & Investor Relations
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bb5e66ac-310a-41a3-aa31-31e5b147726c
