Costexis, Newly Listed on KOSDAQ... "Investment in Mass Production of High-Heat Dissipation Spacers for Next-Generation Electric Vehicle Power Semiconductors"

Kostexis, a specialized company in low thermal expansion and high heat dissipation material components, completed the SPAC merger process and was listed on the KOSDAQ market on the 3rd.

Kostexis completed the KOSDAQ listing procedure through a SPAC merger with Kyobo No.10 Special Purpose Acquisition Company. The merger price was 2,000 KRW, and the merger ratio was 1 to 6.4225000.

Founded in 1997, Kostexis is a specialized company in high heat dissipation material components. In 2016, it succeeded in domestic production of low thermal expansion high heat dissipation materials. It internalized everything from materials to products. Based on high heat dissipation new material technology and precision ceramic package technology, it manufactures ceramic packages and polymer packages for 5G communication power transistors. Last year, it recorded sales of 25.3 billion KRW and an operating profit of 3.57 billion KRW.

With competitiveness based on its self-developed core heat dissipation materials applied to radio frequency (RF) packages, it has global semiconductor company NXP as its main client. It plans to lead the overseas market through the full-scale commercialization of 5G communication RF package sales and investment in mass production facilities for low thermal expansion high heat dissipation spacers for next-generation power semiconductors for electric vehicles.

Kostexis CEO Han Gyu-jin said, "Kostexis is a specialized company in low thermal expansion high heat dissipation material components and will expand beyond Korea to the global market," and added, "As we become a KOSDAQ-listed company through the merger with Kyobo No.10 SPAC, Kostexis will continue to grow." He also added, "We hope you will continue to show great interest and watch over us."

Kostexis identified high heat dissipation spacers as a new growth engine. As the electric vehicle market grows, the demand for spacers installed in vehicle semiconductors is also expected to increase. Existing silicon (Si) power semiconductors for vehicles lose functionality at temperatures above 150 degrees Celsius, but silicon carbide (SiC) semiconductors with high heat dissipation spacers can operate in environments above 150 degrees Celsius.

Kostexis is supplying spacer prototypes to Hyundai Motor Company and LG Magna. It expects the performance in the high heat dissipation spacer sector to increase significantly from the second half of next year. It estimated that 60 high heat dissipation spacers are installed per electric vehicle. It projected that the global demand scale for heat dissipation spacers will reach 1.3 trillion KRW by 2030. Kostexis plans to secure production capacity worth a total of 110 billion KRW by the second half of next year, including 50 billion KRW for RF packages and 60 billion KRW for heat dissipation spacers, in preparation for increased demand.