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November 18, 2021 09:00 AM

GaN Systems of Ottawa plans growth after US$150-million investment round

GaN Systems’ CEO says 'magnitude' of investment speaks to growing emphasis auto is placing on electronics powering new EVs

David Kennedy
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    GAN Systems
    GAN SYSTEMS

    GaN Systens designs high-efficiency power transistors.

    Canadian electronics company GaN Systems plans to double its global headcount, amp up spending on product development and push further into the automotive market using cash raised in a US$150-million round. 

    The Ottawa-based tech firm that designs high-efficiency power transistors announced its fifth, and by far its largest funding series, Nov. 18. 

    Boston-based Fidelity Investments led the latest round, while German parts supplier Vitesco Technologies, which was spun off Continental AG last month, joined the company’s ranks of strategic investors. Earlier backer BMW i Ventures also participated. 

    GaN Systems’ CEO Jim Witham said the “magnitude” of the investment speaks to the growing emphasis the auto industry is placing on the electronics powering new and upcoming electric vehicles. 

    “Automotive companies weren’t all that interested in even having the discussion a couple years ago, now it’s in the forefront,” Witham told Automotive News Canada, adding that transistor price has now taken a back seat to performance. 

    Related Article
    GaN Systems of Ottawa offers a crystal path to longer EV range

    Gallium nitride, or GaN, transistors are both smaller and more efficient than traditional transistors made of silicon. GaN Systems says its components can increase EV range by about six per cent, while the smaller parts can trim vehicle material costs by up to US$1,000 per vehicle. 

    While most of the company’s revenue today comes from components it builds for phone or laptop chargers, as well as those used in data centres, Witham said automotive represents more than half of the long-term market opportunity for GaN. 

    Momentum is picking up as EVs gain ground and automakers work on making the most of each charge. GaN Systems signed a capacity agreement worth several hundred million dollars with BMW earlier this fall and is working with many other automakers and suppliers. 

    “Nine of top 10 car companies in the world have either designed in or are designing with my parts. Nine of the top 10 Tier 1s are in that same category,” Witham said. 

    The company has already spent years validating its technology for use in automotive giving it a considerable head start compared to competitors, he added. 

    “Big auto players like BMW and Vitesco have been using parts for five or six years already,” Witham said, though he declined to say when production models would begin incorporating the new type of transistors. 

    Along with the investment, Vitesco announced a strategic partnership with GaN Systems Nov. 18 that will see the Canadian company’s transistors integrated into the parts supplier’s EV platforms. 

    A “fabless” chip company, GaN Systems designs its transistors, but outsources fabrication to TSMC in Taiwan. It plans to use the funds from its latest investment round to continue scaling up and improving its product. Hiring at its main offices in Ottawa and Taiwan will increase its workforce to approximately 200 from 100.

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