SELX Semilux International Ltd

Semilux International Ltd. ("Semilux" or the "Company") (NASDAQ: SELX), a provider of application-specific integrated circuit (“ASIC”), LiDAR and ADB components and solutions, today announced that it has started a research and development (“R&D”) program (the “Program”) with academics and scholars in Taiwan’s universities to jointly develop a cutting-edge domestic solid-state LiDAR module for automotive applications. Sponsored by the National Science and Technology Council in Taiwan, the Program is at the forefront of R&D and application of the Optical Phased Array (“OPA”), a key area of LiDAR technology which is expected to transform the autonomous driving industry.

The Program is designed to overcome the weakness in the current OPA technology for solid-state automotive LiDAR module. The Company plans to complete the Program by 2025 and divides it into three phases in the process as follows.

1. The R&D on the Innovative OPA-Based Chip: Semilux will be committed to taking the lead in innovatively advancing the OPA technology integrated with the silicon photonics circuit, developing the OPA-based chip as an integral component in solid-state LiDAR module.
2. The R&D on a Comprehensive Solution for Solid-State LiDAR Module: Professor Wood-Hi Cheng and his research team from National Chung Hsing University will focus on a systematic solution for the design and manufacturing of solid-state LiDAR module for vehicles.
3. The Field Trials on Automobiles: The reliability and capability of the module will be tested and validated on mini electric buses through extensive trials in real-life driving scenarios in National Chung Hsing University.

Experts from National Chung Hsing University, Turing Drive, and Industrial Technology Research Institute also participate in this program. The new products (the “Products”) in the pipeline of the Program are expected to be first implemented in railway system in small batches in 2024. The Products are planned to be officially launched by 2026 and applied in autonomous vehicles and the low-speed logistics field such as the automated guided vehicles in semiconductor factory and other high-tech factories.

Dr. Yung-Peng Chang, Chairman of the Board, Director and Co-Chief Executive Officer of Semilux, remarked, “We’re excited to launch the Program to further develop our core solid-state LiDAR technology and significantly contribute to the development of Taiwan’s autonomous vehicle technology. The Products potentially feature high resolution, long detection range and stable capacity, which signal a transformative impact to the autonomous vehicle market. We believe that the innovative and comprehensive LiDAR solution under development would meet a wide range of market demands, enhance our competitiveness and boost our profitability. This initiative also heralds a serious of our R&D measures and collaborative programs in the coming months. We plan to continue to invest in technological innovation to enhance our market presence and maximize our growth potentials, contributing to the automotive industry and semiconductor ecosystem in Taiwan.”

About Semilux International Ltd.

Semilux is domiciled in the Cayman Islands and operates through its subsidiaries, Taiwan Color Optics, Inc. (“TCO”) and Semilux Ltd., a Cayman Islands exempted company with limited liability. TCO is an optical and 3D sensing technology company that is primarily involved in the customization, design and supply of optical components and integrated chip for various industries including autonomous driving, intelligent lighting, as well as unmanned aerial vehicles. TCO has undertaken the complete design of essential chips and components within the LiDAR and ADB modules: OPA, VCSEL, FMCW, ASIC, and optical components, which provides a cost-effective, calibration-and maintenance-light, scalable, and reliable high-performing System-on-Chip (SoC). In collaboration with its clients, TCO conceptualizes and produces high precision optics and sensing modules that are specifically customized to clients’ needs for ease of integration in overall design and production. Applications for TCO’s products include automotive laser headlight systems, adaptive driving beams (ADB) as well as light detection and autonomous driving systems (LiDAR). TCO also plans to leverage Taiwan’s mature semiconductor vertical supply chain to facilitate production of the chipsets used in TCO’s LiDAR and ADB productions. More information can be found at: http://www.semilux.com.

Forward-Looking Statements

This press release contains, and certain oral statements made by Semilux and its respective affiliates, from time to time may contain, “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Semilux’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “might” and “continues,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the failure to realize the anticipated benefits of the Business Combination, the expected use of proceeds, Semilux’s continued growth and expansion and its ability to deliver value to customers and investors, along with those other risks described under the heading “Risk Factors” in the definitive proxy statement/prospectus filed by Semilux with the Securities and Exchange Commission (the “SEC”) on January 12, 2024, and those that are included in any of Semilux’s future filings with the SEC. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside of the control of Semilux and are difficult to predict. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Semilux undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

For investor and media inquiries, please contact:

Semilux International Ltd.

Investor Relations Department

Email: IR@semilux.com

Ascent Investor Relations LLC

Tina Xiao

Phone: +1-646-932-7242

Email: investors@ascent-ir.com