Adisyn appoints former Tower Semiconductor COO to lead 2DG graphene commercialisation
Adisyn Ltd (ASX: AI1) has appointed Mr Ephraim Koltin as Incoming Chief Executive Officer of 2D Generation Ltd (2DG), its wholly-owned graphene technology subsidiary, effective immediately. The appointment is aimed at driving graphene commercialisation.
Mr Arye Kohavi will remain as 2DG CEO until 30 November 2026 to provide an orderly handover, in accordance with the Company’s leadership transition plan (ASX announcement of 7 September 2026).
Separately, Adisyn has signed a services agreement appointing Mr Kohavi as CEO of 2D Radar Absorbers Ltd after his current term with 2DG ends. That business was covered in the ASX announcement of 16 March 2026.
Kevin Crofton, Executive Chairman
“…He possesses excellent industry knowledge and experience, and is uniquely qualified to oversee our growth as a company.”
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Koltin’s semiconductor and manufacturing track record
Mr Koltin brings more than three decades of senior experience across semiconductor manufacturing, advanced materials development and deployment, according to the announcement.
Two decades at Tower Semiconductor
Mr Koltin spent more than twenty years in senior leadership roles at specialty semiconductor foundry Tower Semiconductor Ltd (Nasdaq/TASE: TSEM). Key points include:
- Served as Chief Operating Officer from 2009 to 2014
- Managed global manufacturing operations across Israel, Japan and the United States
- Oversaw a workforce of 2,700 employees
- Supported annual sales exceeding US$600 million
Other positions at the company included VP General Manager of the FAB1 business unit and VP of Business Development & Strategic Marketing. In these roles, he identified innovative and alternative raw materials for production and led professional negotiation teams in securing complex deals.
Arkal Automotive and the Raval link
Mr Koltin joins Adisyn after more than eight years as a senior executive of thermoplastic manufacturing group Arkal Automotive. He has been CEO since December 2021 and has overseen the optimisation of five global manufacturing sites.
Arkal is a subsidiary of Israel-based manufacturing group Raval A.C.S. Ltd. Adisyn’s 2D Radar Absorbers Ltd also holds a strategic MoU with Raval to co-develop graphene-enhanced radar absorption components for drones and UAVs (ASX announcement of 11 May 2026).
Ephraim Koltin, Incoming 2DG CEO
“…I had the privilege of being involved with 2DG from its early days as a member of its advisory board. I believed in the promise of its technology then, and I continue to believe today that it has the potential to be a game changer in the design and manufacture of a wide range of semiconductor and optical devices…”
Why leadership matters for graphene commercialisation
Copper interconnects are the tiny metal pathways that carry electrical signals inside a chip. According to Adisyn, they have performance limitations in next-generation semiconductor devices.
The Company’s core focus is a patented low-temperature Atomic Layer Deposition (ALD) process designed to enable direct graphene growth on semiconductor wafers. The aim is to address those limitations.
Turning that technology into revenue involves more than the science. In his comments, Mr Koltin spoke of working to “turn our technological potential into commercial success”, which points to the role of an executive with manufacturing and commercial experience.
Performance-linked remuneration aligns with shareholders
Mr Koltin’s appointment carries an initial 2-year term, with either party able to provide 3 months’ notice for termination. His monthly salary is NIS 81,333 plus statutory pension and leave entitlements, and he receives a monthly car allowance of NIS 8,000.
The Company intends to issue up to 10 million performance rights to Mr Koltin under its Employee Securities Incentive Plan. It plans to rely on the exception in ASX Listing Rule 7.2 (exception 13), so the issue would not use its placement capacity under Listing Rule 7.1.
Each right is convertible into one fully paid ordinary share on a 1:1 basis. The proposed tranches are set out below.
| Tranche | Rights | Key vesting hurdle | Expiry |
|---|---|---|---|
| 1 | **1,500,000** | **12 months** of continuous service | 5:00pm (WST) on **30 June 2028** |
| 2 | **2,250,000** | **24 months** of continuous service; at least **2** billable contracts with parties introduced by the holder, with a minimum combined value of **US$1 million**; VWAP of at least **A$0.34** based on **20** consecutive trading days | 5:00pm (WST) on **30 October 2030** |
| 3 | **3,250,000** | **24 months** of continuous service; cumulative audited consolidated revenue of at least **US$10 million** (excluding Adisyn Services Pty Ltd); VWAP of at least **A$0.54** based on **20** consecutive trading days | 5:00pm (WST) on **30 October 2030** |
| 4 | **3,000,000** | VWAP of at least **A$0.72** based on **20** consecutive trading days | 5:00pm (WST) on **30 October 2030** |
Tranches 2 and 3 are linked to contract, revenue and share price hurdles, while Tranche 4 depends on a VWAP (volume-weighted average price) of at least A$0.72 alone.
Kohavi’s 2D Radar terms
Mr Kohavi’s terms at 2D Radar Absorbers Ltd include monthly fees of NIS 38,888 on a part-time basis equivalent to 50% of a full-time position. The initial term is 1 year, with either party able to provide 4 weeks’ notice for termination.
Options over ordinary shares of 2D Radar are to be granted in a number and on terms determined by mutual agreement of the parties.
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