APEI and Richardson Electronics Sign Global Distribution Agreement to Expand Accessibility and Support of Industry-Leading Wide Bandgap Products
APEI of Fayetteville, Arkansas, a world leader in wide bandgap packaging and design, announced today that it finalized a global distribution agreement with Richardson Electronics, Ltd. (NASDAQ: RELL). Richardson Electronics is a global provider of engineered solutions and a leading distributor of electronic components. This agreement will support the expansion of APEI's products into new markets and applications as the demand for wide bandgap products continues to accelerate.
"The APEI and Richardson Electronics partnership helps expand the accessibility of our products and services to broader markets, as technology manufacturers seek to design systems with increased power-density, smaller size, and higher efficiency to meet their next-generation performance requirements," said APEI's CEO Alex Lostetter. "Richardson Electronics draws from its own engineering and manufacturing capabilities to provide technical expertise and value-added solutions to high performance markets. Richardson and APEI are forming a strong partnership, based on the shared philosophy that customers should receive high-quality technical support throughout the duration of the design-in process – from prototyping to full-scale production."
Chris Marshall, CTO of Richardson Electronics' Power and Microwave Technologies Group, responded, "APEI is a technology leader in GaN and SiC high power modules, offering dramatic size and weight reductions along with the ability to operate at extreme temperatures. We expect them to be a key strategic partner in our push into global power conversion markets, lining up with our new portfolio of GaN and SiC components, IGBTs, high power capacitors and ultracaps. APEI's strong portfolio of SiC and GaN optimized products affords system designers a previously unimaginable level of performance."
"Both of our core business philosophies and customers are complementary, which provides us with excellent potential for rapid expansion into new market sectors," commented Dr. Ty McNutt, Director of Business Development for APEI. "APEI is known for its innovative design philosophies, and it is extremely important that any representation of our brand shares this approach to technology, which Richardson Electronics demonstrates with their long-standing industry reputation."
About APEI
APEI was founded in 1997, with a mission to utilize wide bandgap devices to make industrial motor drive systems smaller, lighter, and more efficient than ever before. Over the past 18 years, APEI has grown into an industry-leading designer, developer, and manufacturer of electronics solutions for high performance applications. Through the use of its wide bandgap optimized design philosophy, APEI offers standard and custom product lines that redefine the capabilities of modern power electronics. In addition to APEI's product offerings, they also provide engineering services for Switched-Mode Power Conversion, Motor Drives & Electric Utility Applications, and Extreme Environment Systems, plus quick-turn manufacturing and testing services.
About Richardson Electronics
Richardson Electronics, Ltd. is a leading global provider of engineered solutions, power grid and microwave tubes and related consumables; other power and microwave components; high value displays, flat panel solutions and replacement parts for diagnostic imaging equipment; and customized display solutions. We serve customers in the alternative energy, aviation, broadcast, communications, healthcare, industrial, marine, medical, military, scientific and semiconductor markets. The Company's strategy is to provide specialized technical expertise and "engineered solutions" based on our core engineering and manufacturing. The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair through its global infrastructure. More information is available online at www.rell.com.
Richardson Electronics common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL.
Julie Teinert
Director, Strategic Marketing
Richardson Electronics, Ltd.
jteinert@rell.com
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