Niobrara Capital

US private equity firms Niobrara Capital and Prysm Capital completed the purchase of Polar Semiconductor for $175 million, enabling the ownership change required for the CHIPS funding.

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.

Polar Semiconductor plans to invest approximately $525 million to expand its Bloomington, Minnesota manufacturing facility, doubling its domestic semiconductor production capacity from 20,000 to 40,000 200mm wafers per month. The project is expected to create over 160 new jobs and is supported by $120 million in proposed CHIPS Act funding and a $75 million investment from the State of Minnesota.

Polar Semiconductor will invest $525 million to expand its Bloomington manufacturing facility, doubling manufacturing capacity and creating 160 new jobs, with $120 million from the CHIPS Act and $75 million from the State of Minnesota.