MUNICH,Aug. 24, 2022-- Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) and II-VI Incorporated (Nasdaq: IIVI) have signed a multi-year supply agreement for silicon carbide (SiC) wafers. The German-based semiconductor manufacturer is thus securing further access to this strategic semiconductor material to meet the strong increase in customer demand in this area. The agreement also supports Infineon's multi-sourcing strategy and increases its supply chain resilience. The first deliveries have already taken place.

SiC is a compound of silicon and carbon that enables particularly efficient and robust power semiconductors with a superior cost-benefit at the system level. The CoolSiCTM brand from Infineon is already the industry's largest portfolio for industrial power semiconductor applications. In addition to photovoltaic converters and industrial power supplies, the advantages of SiC are also particularly evident in the field of e-mobility. SiC power semiconductors are used in the main inverters for e-vehicle drive trains, in onboard battery charging units and in charging infrastructures. The material meets the highest quality standards for industrial and automotive applications. As strategic partners, II-VI and Infineon are also collaborating in the transition to 200mm SiC diameter wafers.

Infineon expects its SiC semiconductor sales to grow by more than 60 percent on average per year, reaching approximately$1 billionby mid-decade. For the second half of the decade, Infineon expects on-going growth momentum, for which it invests in its recently announced additional manufacturing block in Kulim,Malaysia.

About Infineon

Infineon Technologies AG is a world leader in semiconductor solutions that make life easier, safer and greener. Microelectronics from Infineon are the key to a better future. With around 50,280 employees worldwide, Infineon generated revenue of about €11.1 billion in the 2021 fiscal year (ending 30 September) and is one of the ten largest semiconductor companies worldwide.

Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in theUSAon the over-the-counter market OTCQX International Premier (ticker symbol: IFNNY). Further information is available at

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About II-VI Incorporated

II-VI Incorporated, a global leader in engineered materials and optoelectronic components, is a vertically integrated manufacturing company that develops innovative products for diversified applications in communications, industrial, aerospace & defense, semiconductor capital equipment, life sciences, consumer electronics, and automotive markets. Headquartered inSaxonburg, Pennsylvania, the Company has research and development, manufacturing, sales, service, and distribution facilities worldwide. The Company produces a wide variety of application-specific photonic and electronic materials and components, and deploys them in various forms, including integrated with advanced software to support our customers. For more information, please visit us at .

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