Quarterly Operations Update December 2022
Sydney, Jan 11, 2023 AEST (ABN Newswire) - The Directors of K2 Energy Limited (NSX:KTE) provide the following report for the quarter ended 31st December 2022.
K2 Energy's major activities during the quarter were its strategic investment in Atomera, Inc. ("Atomera").
K2 Energy provided critical funding to Atomera, Inc. during its R & D development phase while they developed patentable technology for the silicon chip industry with energy saving and performance attributes. This funding converted into a significant interest in a NASDAQ listed corporation, being Atomera, Inc.
On 8 November 2022 Atomera provided a webcast update on progress, a copy of which is available on its website. Atomera's management is reporting growing confidence that its intellectual property will lead to commercialisation.
Detailed below are extracts from the announcements made by Atomera in August 2022.
Recent Company Highlights
- Atomera grew its customer pipeline leveraging improved capacity and fewer travel restrictions
- Promising interim test results were achieved from ongoing wafer runs
- Whitepaper published detailing breakthroughs in MST for leading-edge process technologies
"The test results from recent wafer runs are confirmation that MST can deliver stronger benefits than anticipated in vital applications, and further, we were able to accurately model such improvements via MSTcad," said Scott Bibaud, President and CEO. "Face-to-face customer activity has accelerated with the reduction in COVID-related travel restrictions, enabling the company to add a customer to the pipeline, and to move existing engagements forward. We believe the industry capacity outlook and the new Chips and Science Act are tailwinds for Atomera as we collaborate with customers toward commercial adoption of MST."
"MST is a quantum-engineered material that enhances transistors to deliver significantly better performance in semiconductor devices, while shrinking die sizes and reducing costs. As it is a complementary material technology to other nano-scaling technologies in the semiconductor industry roadmap, it can be implemented on standard manufacturing tools without significant additional cost or modification to the current semiconductor fabrication process. When successfully integrated, MST can deliver up to a full node of power and performance improvement within the same geometry."
About K2 Energy Limited
K2 Energy Limited (NSX:KTE) is currently involved in several major activities, being a Strategic Investor in Energy Saving Technology and Solar Energy. K2 Energy provided critical funding to Atomera, Inc. during its R & D development phase while they developed patentable technology for the silicon chip industry with energy saving and performance attributes. This funding converted into a significant interest in a NASDAQ listed corporation, being Atomera, Inc.