Our strategy

IQE is focused upon delivering enabling technology which meets performance and price points, and which can be delivered reliably, on-time, and with the ability to scale rapidly.

Progress on strategy

Investing in the Future of Compound Semiconductors
Strategic GoalProgress
  • Leveraging and expanding the IP Portfolio
  • Developing and launching new products
  • Targeting new market entry
  • Innovation in integration and miniaturisation
  • Expansion of VCSEL portfolio with turnkey IQVCSEL™ product line
  • Achievement of key power and reliability milestones for its IQDN-VCSEL™ technology for advanced sensing applications at longer wavelengths on 150 mm GaAs substrates
  • Scaling of IQE’s VCSEL on Ge technology (IQGeVCSEL) to 200 mm
  • Focussing our development programmes on market driven solutions. Longer term developments such as cREO® and PQC are being de-prioritised in the short term
  • Expanding IP Portfolio – eight new grants and five patents registered in 2021
Scaling the Business for Growth
Strategic GoalProgress
  • Expand Group capacity
  • Qualify customers in strategic markets
  • Enhance management controls, systems and processes to enable mass production
  • Capital expenditure of £15.1m focussed on deployment of additional tools to meet demand for IQE’s Wireless products in Asia
  • The project to close IQE’s Pennsylvania US site by 2024 and consolidate the Group’s US MBE development and production at the North Carolina US site is on track
  • Business systems and process transformation programme on track to provide a consistent, agile and scalable platform for business growth
  • Several key appointments made to strengthen the management team
Expanding Margins and Cashflows
Strategic GoalProgress
  • Superior unit economics from superior yields and economies of scale
  • Customer and market diversification
  • Developing relationships as a materials solutions provider
  • Closure of IQE’s Singapore site by mid-2022, realising c.£4.8m per annum of cash savings
  • Long-term strategic collaboration agreement signed with GlobalFoundries® to develop vital GaN on Si technologies for mobile and wireless infrastructure applications
  • Multi-year strategic partnership signed with a major semiconductor foundry to develop epiwafers for 5G small cells

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*Report on strategic progress as detailed in our Annual Report and Accounts 2021.