PLAINVIEW, NY--(Marketwired - February 16, 2016) - Veeco Instruments Inc. (NASDAQ: VECO), the world's leading supplier of metal organic chemical vapor deposition (MOCVD) systems, announced today that it has signed a joint development project (JDP) agreement with imec, the Belgium-based nano-electronics research center. The collaboration is expected to accelerate the development of highly-efficient, Gallium Nitride (GaN) based, power electronic devices using GaN Epi wafers created using Veeco's Propel® Power GaN MOCVD system.

Imec has already demonstrated significant gains in GaN layer uniformity and run-to-run repeatability with Veeco's Propel system, resulting in significantly improved power device yields. The single wafer reactor incorporates Veeco's proprietary TurboDisc® technology that delivers superior film uniformity, run-to-run control and defect levels compared to batch reactors.

"Within the framework of our industrial affiliation program on GaN-on-Si, Veeco and imec have collaborated over the last four years to improve the Epi quality of GaN layers deposited on silicon wafer substrates," said Rudi Cartuyvels, Senior Vice President Smart Systems and Energy Technologies at imec. "The ultimate goal is to produce the next generation of highly efficient power switching devices. We have set very high GaN device yield and reliability targets for 2016 and we look forward to partnering with Veeco to achieve these targets."

According to IHS research, industry requirements are growing and requiring smaller, more energy efficient power ICs. This, in turn, is driving the need for improved power devices using advanced materials. GaN-on-Si coupled with improved process solutions, such as single-wafer GaN MOCVD, are critical to the development of these improved power devices.

"We are very pleased with our imec collaboration," said Jim Jenson, Senior Vice President and General Manager, Veeco MOCVD Operations. "Global demand for advanced power electronics with greater energy efficiency, a smaller form factor and greater reliability is rapidly accelerating. We believe that the technology in our Propel single wafer system will enable imec to achieve their power device targets and help to bring these advanced devices to market faster."

About Veeco Propel Power GaN Single-Wafer Reactor MOCVD System
Veeco's new Propel Power GaN MOCVD system is designed specifically for the power electronics industry. Featuring a single-wafer 200mm reactor platform, capable of processing six and eight-inch wafers, the system deposits high-quality GaN films for the production of highly-efficient power electronic devices. The single-wafer reactor is based on Veeco's TurboDisc® technology including the new IsoFlange™ and SymmHeat™ breakthrough technologies, which provide homogeneous laminar flow and uniform temperature profile across the entire wafer. Customers can easily transfer processes from Veeco K465i™ and MaxBright® systems to the Propel Power GaN MOCVD platform.

About Veeco
Veeco's process equipment solutions enable the manufacture of LEDs, displays, power electronics, compound semiconductors, hard disk drives, semiconductors, MEMS and wireless chips. We are the leader in MOCVD, MBE, Ion Beam, Wet Etch single wafer processing and other advanced thin film process technologies. Our high performance systems drive innovation in energy efficiency, consumer electronics and network storage and allow our customers to maximize productivity and achieve lower cost of ownership. For information on our company, products and worldwide service and support, please visit www.veeco.com.

To the extent that this news release discusses expectations or otherwise makes statements about the future, such statements are forward-looking and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include the risks discussed in the Business Description and Management's Discussion and Analysis sections of Veeco's Annual Report on Form 10-K for the year ended December 31, 2014 and in our subsequent quarterly reports on Form 10-Q, current reports on Form 8-K and press releases. Veeco does not undertake any obligation to update any forward-looking statements to reflect future events or circumstances after the date of such statements.

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