Polar Semiconductor Receives CHIPS Award
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.
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.
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.
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.
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.
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 award for Polar Semiconductor
The US Department of Commerce yesterday said that it had finalized a US$123 million grant for Polar Semiconductor LLC to expand its plant in Minnesota, which would allow the company to nearly double its US production capacity of power and sensor chips.
SIA Applauds Finalization of First CHIPS Award for Polar Semiconductor
The Semiconductor Industry Association (SIA) today released the following statement from SIA President and CEO John Neuffer applauding the first finalized agreement to allocate incentives under the CHIPS and Science Act.
US finalizes $123 million grant to expand Polar Semiconductor
The US Department of Commerce has approved a $123 million grant to Polar Semiconductor, enabling the company to significantly expand its chip manufacturing facility in Minnesota. This expansion will almost double its production capacity for power and sensor chips,
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 ...
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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 ...
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 ...
The Biden administration has finalized the first Chips Act grant
The Biden-Harris administration has announced the first binding award from the U.S. Chips and Science Act since allocating ...