RG&E Provides Grant to Support Akoustis Technologies Expansion

Expansion at Canandaigua Facility to Create 200 New Jobs

ROCHESTER, NY — July 27, 2018 — Rochester Gas and Electric Corporation (RG&E), a subsidiary of AVANGRID Inc., a diversified energy company, has provided a $70,193 economic development grant to Akoustis Technologies, Inc. (AKTS) toward manufacturing equipment and electrical infrastructure upgrades that will enable the company to grow its production and assist in meeting its goal to invest $20 million in its Canandaigua facility. This is expected to create 200 new jobs over the coming years while retaining 30 jobs already in place.

Akoustis, a manufacturer of patented single-crystal XBAW bulk acoustic wave (BAW) high-band RF filters for mobile and other wireless applications, has completed an expansion of a metal oxide chemical vapor deposition system (MOCVD) requiring electric infrastructure upgrades at their facility and plans to expand its manufacturing capacity further over the next several years.

NYSEG and RG&E President and CEO, Carl A. Taylor said, “RG&E and NYSEG are committed to helping high tech industries like Akoustis grow and expand their operations in New York. We play a vital role in encouraging businesses to remain in New York State and to attract new companies to our region. We’re confident our investments will boost New York’s local economies and raise the standard of living for residents.”

RG&E provided the grant through its Capital Investment Incentive Program which provides assistance for electric-related infrastructure improvements on company-owned or customer-owned equipment, and other costs necessary for the construction of a new building or an addition to or redevelopment of an existing building. Funds are targeted for business projects that involve major capital investment in plants and equipment. Support is considered based upon the project’s overall economic impact to the community.

Jeff Shealy, Founder and CEO of Akoustis said, “We are grateful to receive this grant as it will help our community deliver on our goal to grow our business and put more people to work at our Canandaigua facility. We are committed to driving significant growth over the next several years and it is easier to accomplish when you have the right partners pushing for your success, as we have with RG&E and NYSEG.”

Since 2010, RG&E and NYSEG have provided over $85 million in economic development assistance to support over 450 projects leveraging over $4.4 billion in private sector and capital investments. For more information on the companies’ economic development programs, visit www.lookupstateny.com

(left to right) Dave Pettitt, Plant Financial Controller, Akoustis, Mary Winters Vice President, Wafer Fab, Akoustis, 
Jeff Shealy CEO & Founder, Akoustis, Joe Rizzo, Manager Economic Development, RG&E