2014

Galtech Announces Progress in Commercial Materials Development

    PROVO, Utah, March 20 /PRNewswire/ -- Galtech Semiconductor Materials
 Corp. (OTC Bulletin Board:   GTSM) today announced the following information
 regarding its progress in commercial development of compound semiconductor
 materials.
     Building on progress reported in our last press release and outlined in
 the "White Paper" posted on Galtech's website http://www.galtech-corp.com.
 Galtech is conducting pilot production of Cadmium Zinc Telluride(CZT).  This
 pilot production program will lead to the commercial production compound
 semiconductor material.  The company, to begin a targeted rollout of its CZT
 substrate material, has established contact with a selected aerospace company
 for the purpose of becoming a qualified supplier.  Due to the very limited
 number of suppliers of large area CZT substrate material Galtech's inquiries
 were met with enthusiasm and this company is actively encouraging the
 companies efforts to become qualified.
     Since the "White Paper" on Galtech's website, http://www.galtech-corp.com,
 was posted late last year, we have received a number of very positive reviews
 and contacts with potential customers in both the United States and Europe.
 All of these companies have expressed keen interest in Cadmium Zinc
 Telluride(CZT) instead of the Cadmium Telluride (CT) grown last year and
 discussed in the white paper.  Based on these inquiries and our own assessment
 of the potential markets involved, we have decided to accelerate our
 development of CZT substrates.  The decision to accelerate development of CZT
 was due to four important reasons: 1) The market for CZT is many times larger
 than the market for CT, 2) all request for samples from potential customers
 have been for CZT, 3) the equipment and processes are the same for both,
 4) CZT has a number of desirable characteristics that CT does not have, and
 thus has a wider field of application possibilities.
     Accordingly, Galtech is concentrating on two major efforts, one related to
 market research and the other related to crystal growth.  The companies
 requesting CZT substrates for evaluation have indicated desires for different
 levels of doping, Cad-Zinc ratios, and other characteristics.  While we are
 assessing each potential opportunity (e.g. costs, margins, sales, etc.) we are
 going forward with our efforts to grow a crystal specifically for gamma-ray
 detectors as requested by the national laboratory.  Therefore based on the
 company's past success with the national laboratory and their stated material
 preference, our current crystal growth is focused on CZT that is designed to
 meet their specifications.  The flexibility and robust nature of the company's
 plant and equipment has allowed us to accommodate these process and product
 changes without further modifications.
     Further, to pave the way for future growth, Galtech is actively developing
 relationships with important target industry groups.  Galtech's stated long
 term goal is to supply devices based on CZT as detectors for use in dynamic
 digital radiography (DR) in medical imaging.  To this end, the company has
 begun the business development study required to enter this important
 marketplace.  Initial results of this effort are very favorable and support
 our belief that devices, based on Galtech produced substrates can open up a
 large and untapped market in this industry group.
     In other developments, the Company is pleased to announce that the
 Securities and Exchange Commission has given final approval to Galtech's SB2
 request.  This will allow Galtech to obtain additional funding for current and
 future development efforts.  Additionally, Galtech was the subject of a very
 favorable magazine article in the Jan-Feb 2001 issue of Compound Semiconductor
 Magazine.  The article can be seen on the Company's website at
 http://www.galtech-corp.com.
     For general information on Galtech Semiconductor Material please go to the
 company's website or contact William Tunnell at (623)825-2550.
 
     This document includes forward looking statements that involve risks and
 uncertainties.  It is not a solicitation to purchase or sell securities of
 Galtech Semiconductor Material Corporation.  Readers should consult with their
 own independent tax, business or financial advisors with respect to any
 investment in this company.
 
 

SOURCE Galtech Semiconductor Materials Corp.

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