IBA and Wallonie Entreprendre International secure 30% stake in mi2-factory to support improved efficiency of silicon carbide-powered devices

Louvain-La-Neuve, Belgium, 21 January 2025 - IBA (Ion Beam Applications S.A., EURONEXT), the world leader in particle accelerator technology, and Wallonie Entreprendre International (WE International), the international branch of the Walloon public investment company, today announce a joint strategic investment of EUR 5 million each in mi2-factory, a start-up and spin-off from the University of Applied Sciences Jena, Germany. This investment secures a 15% stake for IBA and a 15% stake for WE International.

mi2-factory specializes in nitrogen implantation in silicon carbide (SiC), an important process to improve the efficiency of SiC power semiconductor chips. Those chips are essential components in modern power electronic systems serving in a range of sectors, including electric mobility, energy generation from wind and solar, renewable energy grids, among others. The company focuses on high-energy implantation to simplify processes, reduce cost, and enhance yield and quality of SiC chips and wafers.

In line with its strong commitment to innovation, IBA is proud to support mi2-factory in advancing its lab-proven process towards industrial-grade solution. IBA’s advanced compact particle accelerator technologies are ideally suited to meet mi2’s ambitions of enabling SiC devices that combine the best attributes  of quality, cost, and production capacity.

The development of mi2-factory is further supported by a grant from the Important Project of Common European Interest for Microelectronics and Communication Technologies (IPCEI ME/CT) and equity investment from the company’s current shareholders bringing its total additional resources to approximately EUR 40 million. Beyond the economic prospects that the development of this type of solution represents, the project also marks a potential advancement in strengthening European expertise in the strategic and rapidly growing field of power electronics.

Prof. Dr. Michael Rüb, CEO & Managing Director of mi2-factory, commented: “mi2-factory was seeking not only strategic and technological partners but also co-investors to strengthen our position in IPCEI projects. Partnering with IBA, the world leader in particle accelerator technologies, and Wallonie Entreprendre International, a reputable institutional partner, reinforces our expertise and know-how, positioning us as the best in class in high-energy nitrogen implantation in silicon carbide as we look to advance towards an industrial grade solution.”

Henri de Romrée, Deputy Chief Executive Officer of IBA, added: “Investing in promising companies like mi2-factory is part of our entrepreneurial DNA and could lead to potential new applications for our accelerators. We look forward to collaborating with the talented mi2-factory team and contributing to this project to help grow European expertise in power electronics, which is an important and strategic sector.”

Laurence Glautier, General Manager of WE International, commented : " We are proud to make this co-investment alongside IBA, a long-standing partner with a proven track record of innovation and a strong impact on the Walloon region. This investment in a European project, backed by IPCEI, aligns perfectly with our mission to support high-value-added initiatives that foster Walloon expertise in cutting-edge sectors like semiconductor in power electronics. By encouraging IBA's diversification into this strategic domain, we not only reinforce technological advancements but also ensure long-term economic growth and skilled employment opportunities in Wallonia.”

***

About IBA

IBA (Ion Beam Applications S.A.) is the world leader in particle accelerator technology. The company is the leading supplier of equipment and services in the field of proton therapy, considered to be the most advanced form of radiation therapy available today. IBA is also a leading player in the fields of industrial sterilization, radiopharmaceuticals and dosimetry. The company, based in Louvain-la-Neuve, Belgium, employs approximately 2,000 people worldwide. IBA is a certified B Corporation (B Corp) meeting the highest standards of verified social and environmental performance.

IBA is listed on the pan-European stock exchange EURONEXT (IBA: Reuters IBAB.BR and Bloomberg IBAB.BB).-More information can be found at:

About Wallonie Entreprendre International

WE International (Wallonie Entreprendre International S.A.) is the international branch of the Walloon public investment company Wallonie Entreprendre S.A. For more than 20 years, WE International is dedicated to finance Walloon companies with projects abroad that generate significant economic benefits for the Walloon region. More information can be found at :

About mi2-factory

mi2-factory GmbH (“mi2-factory”) offers a novel process technology for semiconductor production with its innovative EFIITRON wafer processing equipment. Chip manufacturers use EFIITRON to reduce chip costs, to increase reliability and to realize new component and wafer architectures.

The customer benefits from previously unattainable precision and flexibility. This enables a cost reduction of up to 50% for silicon carbide (SiC) chips. EFIITRON is targeting the strategic market of silicon carbide power electronics for e-mobility, renewable energy applications, AI data centers, traction and industrial drives. Well-known studies expect a market volume in 2027 of > $6 billion with a CAGR of 30-40%. mi2-factory is targeting to process more than 30% of all SiC wafers with EFIITRON equipment in the long term.

More information on mi2, at

More information on IPCEI ME/CT, at:

For further information, please contact:

IBA

Olivier Lechien

Corporate Communication Director

For media and investor enquiries:

ICR Healthcare

Amber Fennell, Angela Gray, Lucy Featherstone

+44 (0) 20 3709 5700

Attachment