John S. Edmunds Joins the Board of Directors of Odyssey Semiconductor Technologies, Inc. (OTCQB: ODII)
ITHAQUE, NY, June 22, 2021 / PRNewswire / – Odyssey Semiconductor Technologies, Inc. (“Odyssey”, “Odyssey Semiconductor” or “the Company”), a semiconductor device company that develops innovative high voltage power switching components based on proprietary gallium nitride (“GaN”) processing technology , today announced the appointment of John S. Edmunds to its board of directors. Mr. Edmunds will also be chairman of the audit committee.
Mr. Edmunds brings more than 40 years of financial experience, including 20 years as a Chief Financial Officer (“CFO”) of a public company with small-cap semiconductor companies. Most recently, he spent 13 years as Chief Financial Officer of Inphi Corporation (“Inphi”) and led the company until its IPO in 2010. Inphi was recently acquired by Marvell Technology, Inc. for 10 billion dollars.
Previously, Mr. Edmunds was CFO of Trident Microsystems and CFO of Oak Technology. He was previously a Chartered Accountant at Coopers and Lybrand, after which he held various management positions at Tandem Computers for 11 years until 1997. He graduated from the Hass School of Business at the University of California, Berkeley.
“John is an incredible addition to the Odyssey team, and in particular to the audit committee,” said Alex behfar, Chairman and CEO of Odyssey Semiconductor. “His depth and vast experience will be a great asset to our company as we continue to innovate and lead this industry into the future.
In addition to Mr. Edmunds, Odyssey recently added Cornell University Professor Khurram Afridi to its board of directors. The company announced in April that it had raised $ 5 million (1.25 million shares at $ 4.00 per share) in a private placement of common shares to further fund development and production of high voltage vertical conduction GaN power switching devices. Odyssey has developed new GaN processing technology to produce high voltage power switching devices that will break down long standing performance barriers for high power and high voltage applications such as electric vehicles, solar power, power grids and industrial engines.
In 2020, Odyssey began trading on the OTCQB Venture marketplace (the “OTCQB”) under the symbol ODII and is focused on the high end power switching device market. The high-end power switching device market, which is described as applications in which silicon-based systems perform inadequately, is expected to reach over $ 3.5 billion by 2025.
About Odyssey Semiconductor Technologies, Inc. (OTCQB: ODII)
Odyssey Semiconductor Technologies, Inc. (www.odysseysemi.com), has developed a proprietary technology that will allow gallium nitride (“GaN”) to replace silicon carbide (“SiC”) as the primary high voltage power switching semiconductor material. Situated at Ithaca, New York State, the Company owns and operates 10,000 sq.ft. Semiconductor wafer fabrication facility with a mix of Class 1000 and Class 10,000 clean space as well as tools for advanced semiconductor development and production. Odyssey Semiconductor also provides a world-class semiconductor development and foundry service.
Statements in this press release that are not descriptions of historical fact are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding our plans, objectives, representations and claims and are not historical facts and are generally identified by the use of terms such as “may”, “will”, “should”, “could”, “expect” to “,” plan “,” anticipate, “” believe “,” estimate “,” predict “,” potential “,” continue “and similar words, although certain forward-looking statements are expressed differently. These forward-looking statements are based on management’s current expectations and assumptions and are subject to risks and uncertainties. Factors that could cause actual results to differ materially from those currently expected include, but are not limited to, risks relating to the results of our research and development activities, including uncertainties related to semiconductor manufacturing. ; the initial stage of our GaN-based technology currently under development; our ability to protect our intellectual property rights that are valuable to our business, including patents and other intellectual property rights; our ability to successfully market and sell our technologies; the ability to achieve high manufacturing volumes and the size and growth of potential markets for any of our technologies, the rate and degree of market acceptance of any of our technologies and our ability to raise funds to support the operations and continued development of our technology.
In light of these risks, uncertainties and assumptions, forward-looking statements regarding future events and circumstances discussed in this press release may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. . You should not rely on forward-looking statements as predictions of future events. The forward-looking statements included herein speak only as of the date hereof, and we assume no obligation to publicly or privately update any forward-looking statements for any reason after the date of this release in order to conform these statements to actual results or to changes in our expectations.
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SOURCE Odyssey Semiconductor Technologies, Inc.