Polar Semiconductor Receives CHIPS Award
Polar Semiconductor received $123 million of federal funds with plans to expand
Those expansion plans come after the awarding of $123 million in federal funds, as part of the CHIPS and Science Act — an initiative to bring microchip manufacturing back to the U.S.
Polar Semiconductor receives $123M in CHIPS Act money — company named as the first CHIPS Act awardee
Polar Semiconductor, a manufacturer of power and sensor chips, is the first company to be officially awarded under the Biden administration's CHIPS Act.
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.
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.
Polar Semiconductor Secures $123M in CHIPS Funding to Double U.S. Production Capacity
The U.S. Department of Commerce announced its first award under the CHIPS Incentives Program’s Funding Opportunity for Commercial Fabrication Facilities of up to $123 million in direct funding to Polar Semiconductor.
Roundup: CHIPS Act funds NSTC; Polar gets final funding
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. Previously, Polar and DOC came to an agreement to transform the company into a U.S.-based chip foundry.
US $123 Million Grant To Chips Maker Polar Semiconductor
The U.S. Commerce Department announced on Tuesday that it has finalized a significant $123 million grant for Polar Semiconductor, aimed at expanding its plant in Minnesota.
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.
US Finalizes First Binding Chips Award With Polar Semiconductor
The Biden administration has finalized its first binding award under the Chips and Science Act: a $123 million grant to Polar Semiconductor that officials say could double the company’s US manufacturing capacity within two years.
Allegro Microsystems-backed Polar Semiconductor receives $123M in CHIPs Act funds
Minnesota-based Polar Semiconductor, which is jointly owned by Allegro Microsystems (NASDAQ:ALGM) and Sanken Electric, is the latest company to receive funds from the CHIPs Act, the Commerce Department said on Tuesday.
Bloomington chipmaker Polar lands more federal funds for its expansion
Another $3 million from the CHIPS and Science Act will help the semiconductor manufacturer upgrade its workforce. This adds ...
Bloomington's Polar Semiconductor to receive $123M in federal funding to expand, double production capacity
U.S. Senator Amy Klobuchar announced the grant Tuesday, saying the CHIPS and Science Act will help America stay competitive ...
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Polar Semiconductor secures $123 m US funding for fab unit in Minnesota
The US Department of Commerce on Tuesday announced the award of $123 million in direct funding to Polar Semiconductor, its ...
The CHIPs Act has been a boon for the industry. Have investors benefited?
President Biden signed the CHIPS Act into law in August 2022 and called it a "once-in-a-generation" piece of ...