Warm embrace of CHIPS Act cash envelopes Polar Semiconductor
Polar Semiconductor is jointly owned by Allegro and Sunken Electric, and is a supplier of 200 millimeter wafers. The company has 750 employees and turned over $230 million in 2023. It is a relative puppy among the big dogs of the chip industry that are collectively attracting billions of dollars in CHIP Act funding.
US Finalizes $123 Million Chips Award for Polar Semiconductor
The U.S. Commerce Department said on Tuesday it had finalized a $123 million grant for Polar Semiconductor to expand its plant in Minnesota, which would allow the company to nearly double its U.S. production capacity of power and sensor chips.
Polar Semiconductor Receives CHIPS Award, Launching as a New Majority U.S.-Owned Foundry in Minnesota
Polar Semiconductor ("Polar" or the "Company"), a U.S.-based semiconductor manufacturer specializing in sensor, power, and high-voltage wafer production, announced today that the company has completed its sale to Niobrara Capital and Prysm Capital.
Additionally, the DOC through the CHIPS Act has finalized its direct investment to Polar Semiconductor of up to $123 million as the first Funding Opportunity for Commercial Fabrication Facilities.
Those expansion plans come after the awarding of $123 million in federal funds, as part of the CHIPS and Science Act — an ...
The Biden-Harris administration has announced the first binding award from the U.S. Chips and Science Act since allocating ...
U.S. Senator Amy Klobuchar announced the grant Tuesday, saying the CHIPS and Science Act will help America stay competitive ...
President Biden signed the CHIPS Act into law in August 2022 and called it a "once-in-a-generation" piece of ...
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