Polar Semiconductor receives $123M CHIPS award to double foundry capacity

The US Department of Commerce finalized a $123 million CHIPS award for Polar Semiconductor to double its sovereign foundry capacity for power and sensor chips in Bloomington, Minnesota, unlocking $525 million in total investment.

“The announcement that the Department of Commerce has finalized the first commercial CHIPS Incentives award with Polar Semiconductor marks the next phase of the implementation of the CHIPS and Science Act”eenewseurope.com

• 2 sources
• eenewseurope.comPolar Semi sale unlocks US chip cash ...Nick FlahertySep 24, 2024
• reuters.comUS finalizes $123 million chips award for Polar SemiconductorDavid ShepardsonSep 24, 2024

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