The release of Pitt Street Research’s detailed analysis on Adisyn Ltd (ASX: AI1) marks a critical moment for this under-the-radar tech player. The report hones in on Adisyn’s bold acquisition of Israeli innovator 2D Generation, and its groundbreaking graphene interconnect technology, which analysts believe could redefine semiconductor manufacturing. Pitt Street analysts Marc Kennis and Nick Sundich are unequivocal in their assessment: the market is undervaluing Adisyn’s potential, offering investors a unique opportunity to back a transformative innovation.
Kennis and Sundich outline a compelling investment thesis centred on Adisyn’s pivot from its legacy tech services into high-tech semiconductors. Their valuation—$0.29 per share—positions Adisyn as a high-reward prospect, significantly above its $0.07 trading price.
Pitt Street Research Founder, Marc Kennis
The Core of the Opportunity: Graphene Interconnects
The Pitt Street report focuses on the technical and commercial potential of 2D Generation’s graphene interconnect technology. As the semiconductor industry grapples with the limitations of copper interconnects—particularly at the cutting-edge 2-nanometre (nm) and below nodes—2D Generation’s solution offers a pathway forward.
Graphene’s unparalleled electrical conductivity and low-temperature deposition, achieved using Atomic Layer Deposition (ALD), set it apart. Pitt Street highlights this as a critical advancement, enabling the creation of smaller, faster, and more energy-efficient chips without the drawbacks of copper’s increasing resistivity at smaller scales.
Collaboration with Industry Giants
Adding weight to the analysts’ bullish outlook is 2D Generation’s collaboration with Belgium’s imec, a global leader in semiconductor R&D, and its inclusion in the European Union’s ConnectingChips program. This partnership aligns 2D Generation with industry heavyweights like NVIDIA, ensuring early-stage integration of its technology into next-generation AI chips and autonomous vehicle systems.
Transformative Valuation Metrics
Pitt Street applies a Sum-of-the-Parts (SOTP) valuation, attributing $0.22 of Adisyn’s $0.29 valuation to 2D Generation alone. The analysts point to the robust valuations of ASX-listed peers like BrainChip and Weebit Nano as evidence of significant upside. “Investors are essentially getting the upside from 2D Generation for free at the current share price,” they conclude.
A Vision for the Future
While the road to commercialisation is not without risks, the analysts are optimistic about Adisyn’s development timeline. With a demonstration prototype targeted for 2026, the company is poised to capitalise on the growing demand for advanced semiconductors. The report also identifies potential catalysts, including additional partnerships and the eventual profitability of Adisyn’s services division, which continues to support Australian SMEs in defence and cybersecurity.
Conclusion
Pitt Street’s report positions Adisyn as a compelling play for forward-looking investors. Its bold pivot into graphene technology, coupled with strong collaborations and a promising valuation, makes it a stock to watch. As the analysts assert, Adisyn is tackling one of the most pressing challenges in technology, with the potential to reap significant rewards.
Investors willing to navigate the risks could find themselves part of a semiconductor revolution spearheaded from the ASX.
To access the full research note, go to: https://www.pittstreetresearch.com/adisyn
