Coherent Corp. signed preliminary memoranda of terms to receive up to $79 million in direct funding from the U.S. Department of Commerce under the CHIPS Act. This funding aims to advance key semiconductor technologies.
The investment will support the expansion of a manufacturing plant in Easton, Pennsylvania, to increase production capacity of silicon carbide substrates and expand the plant's epitaxial wafer manufacturing capacity. This project is expected to create 320 manufacturing jobs.
This funding follows previous CHIPS Act deals for Coherent, including up to $33 million for indium-phosphide devices and $15 million for next-generation wide- and ultrawide-bandgap semiconductors. The initiatives bolster domestic semiconductor production and address growing demand for SiC materials.
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