Power Integrations Unveils New Office in Switzerland | Your money


BIENNE, Switzerland–(BUSINESS WIRE)–March 24, 2022–

Power integrations (Nasdaq: POWI ), the leader in high-voltage integrated circuits for energy-efficient power conversion, today inaugurated its newly built factory in Biel, Switzerland, during a ceremony hosted by the company’s CEO, Balu Balakrishnan , and in the presence of the mayor of Biel, Erich Fehr. The 4,600 square meter, $20 million facility is the new home of approximately 60 engineers and other technology professionals, a number that is expected to increase as the company continues to grow in the years to come. Along with modern offices and labs, the contemporary building houses a surface mount technology (SMT) line used to develop prototypes for the company’s gate drive products. The installation also includes a 25 kilowatt solar panel on the roof.

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Power Integrations CEO Balu Balakrishnan (centre left) cuts the ribbon for the company’s new site in Biel, Switzerland, joined by (left to right) GLS Architects CEO Nik Liechti, the Mayor of Biel Erich Fehr and CFO of Biel Silvia Steidle. (Photo: BusinessWire)

Power Integrations’ presence in Switzerland dates back to its 2012 acquisition of CT-Concept Technologie AG. Its Biel site specializes in gate drives for high power applications such as solar and wind power, electric locomotives and efficient DC transmission lines, and is an integral part of the company’s efforts on the electric vehicle market. Worldwide, Power Integrations employs approximately 770 people, with additional R&D centers at its Silicon Valley headquarters as well as in Canada, Malaysia and the United Kingdom, and design support centers in Germany. and in the Philippines.

In addition to its innovative gate drivers, Power Integrations is known for its high-voltage integrated circuits (ICs) used in power supplies for home appliances, smartphones, computers, and a myriad of consumer and industrial electronics products. The company’s integrated circuits feature proprietary power-saving technologies such as gallium nitride transistors and EcoSmart™ technology, which reduces the power consumed by electronic products when in “sleep” or idle mode. Reflecting the environmental benefits of the company’s products, the company’s Nasdaq-listed shares are included in clean technology indices such as The Clean Technology Index and the Nasdaq Clean Edge Green Power Index. The company shipped nearly two billion ICs and gate drivers in 2021, generating revenue of $703 million, an increase of more than 40% over the previous year.

Mr. Balakrishnan commented: “We are delighted to open our new permanent headquarters in Biel, bringing together all of our local employees under one roof and giving us ample room for the growth we expect in the years to come. here is a vital part of our company’s efforts to develop innovative products for a low-carbon future. We are grateful to city leaders for their support of this project, and look forward to a future long and productive together.

Mayor of Biel, Erich Fehr, said: “I am delighted with Power Integrations’ enduring commitment to the city of Biel. The fact that such an innovative and fast-growing company has chosen to locate here is a testament to the attractiveness of our city and our region as a business location. At the same time, our city benefits from the dynamism and innovation of Power Integrations, as the last decade has already proven.”

Power Integrations’ new Swiss home was planned and built by Biel-based architecture firm GLS Architects. Nik Liechti, CEO of GLS Architects, commented: “This has been an exciting project for our company since its inception over five years ago. We particularly enjoyed the challenge of integrating a high-tech SMT line into this building. office building, and we are extremely proud of the result. The cooperation with Power Integrations and the authorities on this project was excellent and a key factor in the successful development of this high density building. We were able to meet all deadlines and cost forecasts despite the difficult circumstances during the pandemic.

About Power Integrations

Power Integrations, Inc. is a leading innovator in semiconductor technologies for high voltage power conversion. The company’s products are key components of the clean energy ecosystem, enabling the production of renewable energy and the efficient transmission and consumption of energy in applications ranging from milliwatts to megawatts. For more information, please visit www.power.com.

Power Integrations, EcoSmart, and the Power Integrations logo are trademarks or registered trademarks of Power Integrations, Inc. All other trademarks are the property of their respective owners.

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CONTACT: Joe Shiffler

Power integrations

1-408-414-8528

[email protected]

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SOURCE: Power Integrations, Inc.

Copyright BusinessWire 2022.

PUBLISHED: 03/24/2022 16:45 / DISK: 03/24/2022 16:46

http://www.businesswire.com/news/home/20220324005977/en


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