Navitas Semiconductor Corporation Announces Solid‑State Transformer Demonstration with EPFL
Navitas Semiconductor Corp. (NASDAQ: NVTS) announced that it will demonstrate a novel solid‑state transformer solution in partnership with the École polytechnique fédérale de Lausanne (EPFL). The demonstration is aimed at AI data‑center power systems and will showcase the implementation of 800 V direct current (DC) power. This technology builds on Navitas’ expertise in gallium nitride (GaN) wide‑bandgap semiconductors, which are known for high power efficiency and fast switching characteristics.
Key Highlights
- Demonstration Focus: Solid‑state transformer capable of handling 800 V DC, tailored for AI data‑center infrastructure.
- Collaboration: Navitas partners with EPFL, a leading institution in advanced materials and electrical engineering.
- Technology Advantage: Utilization of GaN devices to achieve lower losses, higher reliability, and reduced footprint compared to conventional transformer designs.
Listing of Navitas Depositary Receipts on the Stock Exchange of Thailand (SET)
On March 4 2026, the Stock Exchange of Thailand (SET) announced the listing of 36 new depositary receipts (DRs), including Navitas Semiconductor Corp. The Navitas DR is designated NVTS03 and will begin trading on March 5 2026.
Depositary Receipt Details
| Item | Detail |
|---|---|
| Symbol | NVTS03 |
| Underlying Security | Navitas Semiconductor Corp. (NVTS) |
| Issuer | Pi Securities Public Company Limited |
| DR Type | Depositary Receipt representing interest in the underlying foreign security |
| Unit Ratio | 100 underlying shares per 1 DR unit |
| Number of Units | 10 billion |
| Price per Unit (THB) | 3.02 |
| Listing Date | 4 March 2026 |
| Trading Start Date | 5 March 2026 |
The listing provides Thai investors with exposure to Navitas’ GaN semiconductor technology through a local, regulated instrument.
Market Context
- Industry Position: Navitas specializes in ultra‑efficient GaN semiconductors for analog, mixed‑signal, machine‑learning, quantum‑computing, and wireless applications.
- Stock Performance: As of March 2 2026, Navitas shares closed at $8.90. The company’s 52‑week range is $1.52 – $17.79, and its market capitalization stands at $2.2 billion USD.
- Valuation: The price‑earnings ratio is –15.79, reflecting the company’s current operating loss relative to its revenue.
- Sector Outlook: The gallium nitride semiconductor market is projected to grow to $1.598 billion USD by 2031, driven by power efficiency gains and 5G infrastructure expansion.
Implications for Investors
- The solid‑state transformer demonstration may enhance Navitas’ product portfolio for high‑power AI data‑center applications.
- The introduction of the NVTS03 DR expands distribution channels and increases liquidity for the underlying U.S. shares.
- Despite a negative P/E, Navitas’ technology focus aligns with long‑term trends in power electronics, potentially supporting future revenue growth.
These developments underscore Navitas Semiconductor Corp.’s continued emphasis on advanced GaN solutions and its efforts to broaden market access for investors worldwide.
