AXT, Inc. (AXT) is a developer and producer of compound and single element semiconductor substrates. Through its subsidiaries, the Company manufactures its semiconductor substrates using the vertical gradient freeze (VGF) technology. AXT manufactures its products in the People's Republic of China (PRC). The Company's compound substrates combine gallium with arsenic (GaAs) or combine indium with phosphorous (InP). Its single-element substrates are made from germanium (Ge). The Company designs, develops, manufactures and distributes high-performance semiconductor substrates also known as wafers. The Company's substrate products include, GaAs (semi-insulating), GaAs (semi-conducting), InP and Ge, which is used in Satellite and terrestrial solar cells and Optical applications.