Adisyn’s (ASX:AI1) Graphene Interconnects for Computer Chips Pass the Heat Test

Adisyn Hits Development Milestone

Adisyn (ASX: AI1), through its subsidiary 2D Generation, announced today that it has successfully deposited a graphene-like carbon layer using an atomic layer deposition (ALD) tool at low temperatures. This is a meaningful technical milestone.

To understand why this matters, we will look at how modern semiconductor chips are manufactured and why Adisyn is using graphene.

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Starting with the actual graphene deposition process

One of the most important aspects of this update is the use of atomic layer deposition. ALD is already a standard process used in every advanced logic and memory semiconductor fab globally to deposit materials in layers of just 1 atom thick. By demonstrating that this graphene-like layer can be deposited using ALD, Adisyn is effectively saying its graphene deposition recipe is compatible with real manufacturing environments, not just laboratory experiments. That distinction matters because adoption in semiconductors depends heavily on whether new materials can be integrated into existing fabrication workflows.

Furthermore, the graphene layers have been deposited at temperatures below 300 degrees Celsius, which is very significant. Other developers of graphene deposition methods using ALD are trying to do this at temperatures of around 1,000 degrees Celsius, which is very detrimental to existing structures already built onto the semiconductor wafer. In other words, it damages previous layers and will likely result in a much lower yield (good dies per wafer).

The ultimate goal for 2D Generation is to develop an ALD deposition recipe for graphene interconnects that works below 450 degrees Celsius.

Copper just can’t hack it anymore

For investors who are just getting up to speed on Adisyn’s core focus, the company is developing a graphene deposition technology aimed at improving interconnects in computer chips. Interconnects are the nanoscale wires that link individual transistors, allowing electrons and computational data to move across the chip.

Today, these interconnects are predominantly made of copper. But as chips become smaller and more complex, these copper interconnects are increasingly a bottleneck for performance, power efficiency and heat. As the industry moves towards transistors of 2 nanometers and smaller in size, a solution to the interconnect problems must be found and graphene is one of the most promising candidates to replace copper.

If Adisyn can ultimately commercialise a graphene-based interconnect material that works within standard semiconductor processes, it addresses a well-known industry challenge. While this latest result doesn’t mean immediate commercial deployment, it does move the technology yet another step closer to relevance inside advanced semiconductor fabs, which is exactly what investors should want to see at this stage.

Our Valuation of Adisyn

Based on research from Pitt Street Research, which you can read in full separately, and assuming Adisyn subsidiary 2D Generation continues to execute against its development roadmap as outlined earlier in 2025, Adisyn is valued at A$0.29 per share.

This valuation is derived using a sum of the parts approach across the company’s two business segments: A$0.22 per share for 2D Generation, reflecting its graphene deposition technology and long-term semiconductor opportunity, and A$0.07 per share for the legacy business.

From here, we see clear potential for the company to re-rate from current share price levels as technical milestones continue to be met. The next major catalyst, in our view, is the delivery of a demonstration prototype targeted toward the end of 2026. Achieving this milestone will be critical in moving the technology closer to commercialisation.

Disclosure: Pitt Street Research directors own AI1 shares.