Pitt Street Research: Adisyn’s Graphene Breakthrough Could Redefine Chip Performance
Adisyn Limited (ASX: AI1) has been spotlighted in a new Pitt Street Research report for its pioneering work developing graphene-based interconnects designed to overcome the physical and performance limits of copper in advanced computer chips.
The research note, “Solving a Major Semiconductor Bottleneck,” released on 16 October 2025, reaffirms a valuation of A$0.29 per share, with analysts saying Adisyn’s breakthrough could help sustain Moore’s Law by enabling faster, smaller, and more energy-efficient semiconductor design.
Copper’s Limits Spark Graphene Race
As transistors in integrated circuits shrink below 10 nanometres, the copper interconnects that link them face rapidly increasing resistivity, energy loss, and overheating. This has created a major technological bottleneck for chipmakers trying to advance to sub-5nm nodes.
Adisyn’s wholly owned subsidiary 2D Generation is at the forefront of solving this issue through its low-temperature Atomic Layer Deposition (ALD) graphene technology, which enables high-quality graphene growth at temperatures compatible with existing semiconductor manufacturing.
“Graphene interconnects can deliver faster signal transmission, reduced power consumption, and lower heat generation — three of the biggest challenges facing next-generation chip design,” the Pitt Street Research report notes.
Dual ALD Systems Accelerate Research Progress
According to the company’s August 2025 R&D update, Adisyn has now commissioned two Beneq TFS 200 ALD systems - one installed at its Israeli R&D centre and another leased through Tel Aviv University’s Nano Center.
Beneq TFS 200 ALD system
These systems allow Adisyn’s team to test multiple precursors and reaction conditions simultaneously, advancing the refinement of its proprietary graphene deposition “recipe.” The company’s Phase One program, now underway, is focused on precursor testing, plasma cleaning, graphene growth, annealing, and continuous optimisation - all aimed at validating repeatability and scalability.
This research will continue through early 2026, culminating in the production of a Demo Prototype to prove that graphene can outperform copper in semiconductor applications.
Strong Team and Global Research Collaborations
Pitt Street Research’s report emphasises the calibre of Adisyn’s international leadership and partnerships as a key differentiator.
The graphene development program is led by semiconductor veteran Kevin Crofton (former Lam Research and SPTS Technologies CEO), Arye Kohavi (founder of Water-Gen), and Miri Kish Dagan, one of Israel’s leading R&D executives.
Adisyn is collaborating with some of the most respected institutions and programs in global semiconductor research, including:
imec (Belgium), for simulation and validation of graphene deposition processes;
Tel Aviv University, for advanced characterisation and ALD access; and
ConnectingChips, an EU-led consortium involving NVIDIA, NXP, Applied Materials, and Valeo, under the EU Chips Act initiative.
A Trillion-Dollar Opportunity
The Pitt Street Research analysis places Adisyn’s work within a booming global semiconductor market projected to exceed US$1 trillion by 2030, up from US$600 billion today.
As artificial intelligence, data centres, and 6G communications demand increasingly powerful chips, materials like graphene could become essential to maintaining performance gains and efficiency improvements.
“Adisyn’s low-temperature graphene ALD process could be the enabling technology that allows sub-2nm chip production,” the report concludes, adding that success could “trigger M&A interest from major equipment manufacturers such as Lam Research, ASM International, or Applied Materials”.
Valuation and Upcoming Milestones
Pitt Street Research reaffirmed its A$0.29 per share valuation, composed of A$0.22 for 2D Generation and A$0.07 for Adisyn’s legacy IT services business, and identified several upcoming catalysts for investors:
Ongoing graphene deposition progress reports;
imec and ConnectingChips collaboration updates;
Delivery of the 2026 Demo Prototype; and
Potential commercial partnerships or licensing opportunities.
Redefining Semiconductor Innovation
By addressing one of the semiconductor industry’s most persistent engineering limits, Adisyn’s research could mark a pivotal moment for global chip design.
As Pitt Street Research notes, “If Adisyn succeeds in demonstrating a full proof of concept, it will have solved a fundamental bottleneck in the chip industry.”
With two operational ALD systems, high-level global partnerships, and a clear technical roadmap toward a 2026 prototype, Adisyn’s graphene interconnect program is positioning the ASX-listed company at the forefront of the next generation of semiconductor innovation.
To access the full research report click HERE