# 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.

- Type: Investment
- Announced: 2024-09-24
- Where: Bloomington, Minnesota, United States
- Value: $123.0M
- Starts operating: 2026
- Status: announced
- Capacity: 40,000 wafers per month
- Products: power chips, sensor chips
- Sectors: [Semiconductors and Industrial Electronics](https://endata.com/sectors/semiconductors-electronics.md)

## Companies

- [Polar Semiconductor](https://endata.com/companies/44333.md)
- [Sanken Electric](https://endata.com/companies/27344.md) (investor)
- [Allegro MicroSystems](https://endata.com/companies/28898.md) (investor)
- [Niobrara Capital](https://endata.com/companies/77380.md) (investor)
- [Prysm Capital](https://endata.com/companies/77381.md) (investor)

## Sources

- [eenewseurope.com](https://www.eenewseurope.com/en/polar-semi-sale-unlocks-us-chip-cash/), 2024-09-24: "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"
- [reuters.com](https://www.reuters.com/world/us/us-finalizes-123-million-chips-award-polar-semiconductor-2024-09-24/), 2024-09-24: "The award, part of the Biden administration's $52.7 billion semiconductor manufacturing and research subsidy program, is the first in the program to be finalized by the department."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.