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This letter reports the fabrication of InAlN/GaN high-electron mobility transistors (HEMTs) with a three-terminal off-state breakdown voltage (BV) of 3000 V and a low specific on-resistance of 4.25 mΩ·cm2. To reduce the drain-to-source leakage current in these devices, an AlGaN back barrier has been used. The gate leakage current in these devices is in the ~10-10 A/mm range owing to the use of a SiO2 gate dielectric. This current level is more than six orders of magnitude lower than in Schottky-barrier HEMTs. The combination of an AlGaN back barrier, the high charge sheet density of InAlN/GaN HEMTs, and the low leakage due to the gate-dielectric layer allows for a figure-of-merit BV2/RON,SP of ~2.1 × 109 V2·Ω-1·cm-2.