Atomera Successfully Meets Requirements of Joint Development Agreement

Opens Door to Development with Business Units and Applications Areas

LOS GATOS, CA / ACCESSWIRE / April 14, 2022 / Atomera Incorporated (NASDAQ: ATOM), a semiconductor materials and technology licensing company, today announced the success of its Joint Development Agreement (JDA) with a leading semiconductor company that it had entered into last year. Officially reaching this milestone results in Atomera recognizing revenue related to it in Q1 2022.

Announced in January 2021, this JDA included a manufacturing license enabling Atomera's customer to build Mears Silicon Technology™ (MST®) wafers on an epitaxial deposition (Epi) tool in their own factory. The focus of the JDA was to ensure Atomera's technology met the manufacturability and performance targets set by the customer before further work commenced within the company. Having met these criteria, Atomera can now move on to engagements with individual business units and applications areas.

"Clearing this critical hurdle with such an important customer showcased many important steps to commercialization," said Scott Bibaud, president and CEO of Atomera. "Our two teams worked together to transfer our technology into their hands and validate performance on their tool. We then closely cooperated to deliver results which proved MST meets manufacturability targets of a high-volume semiconductor manufacturer. This is a very important milestone that we believe will be appreciated by our future customers."

MST is a quantum-engineered material that enhances transistors to deliver significantly better performance in semiconductor devices, while shrinking die sizes and reducing costs. As it is a complementary material technology to other nano-scaling technologies in the semiconductor industry roadmap, it can be implemented on standard manufacturing tools without significant additional cost or modification to the current semiconductor fabrication process. When successfully integrated, MST can deliver up to a full node of power and performance improvement within the same geometry.

About Atomera

Atomera Incorporated, one of America's top 100 Best Small Companies in 2022 ranked by Forbes, is a semiconductor materials and technology licensing company focused on deploying its proprietary, silicon-proven technology into the semiconductor industry. Atomera has developed Mears Silicon Technology™ (MST®), which increases performance and power efficiency in semiconductor transistors. MST can be implemented using equipment already deployed in semiconductor manufacturing facilities and is complementary to other nano-scaling technologies in the semiconductor industry roadmap. More information can be found at www.atomera.com.

Safe Harbor

This press release contains forward-­looking statements concerning Atomera Incorporated, including statements regarding Atomera's expectations to move forward with its JDA customer and the ability of Atomera's MST technology to significantly improve semiconductor performance and manufacturing cost. Those forward-­looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially. Among those risks are: (1) there can be no assurance that Atomera's JDA customer will enter into a royalty-based manufacturing and distribution agreement or, if it does, that any such agreement will be on terms beneficial to Atomera; (2) the fact that, to date, Atomera has only recognized minimal revenues and it has not yet entered into a definitive royalty-based manufacturing and distribution license agreement with regard to its MST technology, thus subjecting Atomera to all of the risks inherent in an early-stage enterprise; (3) risks related to Atomera's ability to advance the licensing arrangements with its initial integration licensees, to royalty-based manufacturing and distribution licenses or its ability to add other licensees; and (4) those other risks disclosed in the "Risk Factors" section of Atomera's Annual Report on Form 10-K filed with the SEC on February 15, 2022. Atomera cautions readers not to place undue reliance on any forward-looking statements. Atomera does not undertake, and specifically disclaims any obligation, to update or revise such statements to reflect new circumstances or unanticipated events as they occur.

Investor Contact:

Bishop IR
Mike Bishop
(415) 894-9633
investor@atomera.com

SOURCE: Atomera, Inc