Aehr Bags Order From New Major Supplier Of Silicon Carbide Semiconductors For EV Markets; Shares Pop

Aehr Test Systems AEHR won a purchase order from a new customer for a FOX-NP multi-wafer test and burn-in system, multiple WaferPak Contactors, and a FOX WaferPak Aligner for qualification of wafer level burn-in solution for silicon carbide devices for electric vehicles and other markets.
The financial terms of the transaction remain undisclosed.
The company is a major supplier of silicon carbide devices serving several significant markets, including the electric vehicle industry.
Also Read: Aehr Test Systems Shares Soar On Q4 Results, Clocks 166% Revenue Growth
AEHR configured its FOX system for stress testing and burning in 150mm and 200mm silicon carbide wafers using proprietary WaferPak complete wafer Contactors.
The FOX-NP system and FOX WaferPak Aligner will likely ship to the customer's facility this week.
Canaccord Genuity estimates that the silicon carbide market for EV devices, like traction inverters and onboard chargers, will likely grow from fewer than 150,000 wafers in 2021 to more than four million 6-inch equivalent wafers in 2030. The market will likely meet the demand of the automotive EV market, representing a growth rate of over 25 times the current wafer capacity just for the in-vehicle devices.
Canaccord also estimates that the silicon carbide market will require an additional four million silicon carbide wafers annually by 2030.
Price Action: AEHR shares traded higher by 10.7% at $15.60 on the last check Tuesday.