SEMI Applauds U.S. CHIPS Act Award for Polar Semiconductor Facility in Minnesota
May 14, 2024 | SEMIEstimated reading time: 1 minute
SEMI, the industry association serving the global semiconductor and electronics design and manufacturing supply chain, applauded the United States Department of Commerce’s announcement of a Preliminary Memorandum of Terms for an award under the CHIPS and Science Act to support the expansion and modernization of Polar Semiconductor’s fab in Minnesota. The award includes up to $120 million in grants and an investment tax credit to double the foundry’s production capacity for its customers’ sensor and power chips within two years. The project is expected to create more than 160 jobs.
“SEMI applauds the U.S. Department of Commerce for its continued investments to fortify the domestic semiconductor supply chain,” said Joe Stockunas, President of SEMI Americas. “This proposed CHIPS Act funding for Polar Semiconductor is part of more than $525 million in investments by the company and state, local and private entities to help meet growing demand for sensor and power chips used in a diverse range of applications and markets – from automotive and home appliances to industrial robotics. We congratulate the company on this important step forward for its foundry business.”
As a member of the SEMI Supply Chain Management Initiative and Fab Owners Alliance, Polar Semiconductor collaborates with SEMI members worldwide to advance the global semiconductor industry.
Suggested Items
Rocket Lab Signs Preliminary Terms to Receive up to $23.9M in Funding Under the CHIPS Act to Expand Production of Semiconductors that Power Spacecraft
06/11/2024 | BUSINESS WIRERocket Lab USA, Inc., a global leader in launch services and space systems, today announced the signing of a non-binding preliminary memorandum of terms (PMT) with the Department of Commerce that would see Rocket Lab receive up to $23.9M in direct funding under the CHIPS and Science Act.
Renesas, Indian Institute of Technology Hyderabad Sign Agreement to Accelerate India’s Semiconductor Independence
06/11/2024 | RenesasRenesas Electronics Corporation, a premier supplier of advanced semiconductor solutions, and the Indian Institute of Technology Hyderabad (IITH) have signed a three-year memorandum of understanding (MOU) for research and collaboration in the field of VLSI and embedded semiconductor systems.
ElevATE Semiconductor, GlobalFoundries Partner on High-Voltage Chips for Commercial and National Security Applications
06/11/2024 | GlobalFoundriesElevATE Semiconductor and GlobalFoundries (GF) announced a manufacturing partnership for high-voltage chips produced at GF’s facility in Essex Junction, Vermont.
Air Liquide Signed Major Contract to Support the Semiconductor Industry in the U.S.
06/07/2024 | Air LiquideAir Liquide will build a new industrial gas production facility in the United States to supply the new fab of one of the world’s leading semiconductor manufacturers.
Canon Eyes Significant Expansion of Core Business in India
06/07/2024 | PRNewswireHighlighting India's crucial role in its global growth strategy, Canon today announced its outlined plans for strengthening its core business segments of imaging, printing, and surveillance, along with growing presence in the Semiconductor, Flat Panel Display business and the medical industry.