Benzinga | Jun 21, 2021 10:07AM EDT

Akoustis Technologies Marks Foundry Agreement Debut With 5G Mobile RF Front-End Customer

* Akoustis Technologies Inc (NASDAQ:AKTS) inked a foundry agreement with a mobile RF front-end customer to produce XBAW(r) filters for 5G mobile handsets and other wireless devices.

* Akoustis will use its patented and proprietary XBAW(r) process at its Canandaigua, NY fab.

* Akoustis plans to ship additional samples in the second half of CY 2021 that utilize its new wafer chip-scale packaging.

* The customer is estimated to ramp volume production by the second half of CY 2022.

* Akoustis plans to increase the annual production capacity at its New York fab by the end of CY 2021 to 500 million filters per year to tap the expected ramps in both 5G mobile and WiFi 6E in CY 2022.

* Price action: AKTS shares are up by 3.55% at $10.80 on the last check Monday.