Coherent Secures $15 Million in CHIPS Act Funding Through the CLAWS Hub to Accelerate Commercialization of Wide- and Ultrawide-Bandgap Semiconductors
April 10 2024 - 6:00AM
Coherent Corp. (NYSE: COHR), a leader in wide- and
ultrawide-bandgap semiconductors, today announced that it secured
$15 million in funding from the Creating Helpful Incentives to
Produce Semiconductors (CHIPS) and Science Act of 2022 that
provided the Department of Defense (DoD) with $2 billion to
strengthen and revitalize the U.S. semiconductor supply chain.
One of the key objectives of the CHIPS program is to nurture
ecosystems that reduce risk, incentivizing large-scale private
investment in production, breakthrough technologies, and workers.
To that end, the DoD, through the Naval Surface Warfare Center
Crane Division and the National Security Technology Accelerator,
established eight Microelectronics Commons regional innovation hubs
in September, including the Commercial Leap Ahead for Wide-Bandgap
Semiconductors (CLAWS) Hub based in North Carolina and led by NC
State University. As a member of the CLAWS Hub, Coherent will
receive $15 million to accelerate the commercialization of
next-generation wide- and ultrawide-bandgap semiconductors, namely,
silicon carbide and single-crystal diamond, respectively.
“We are excited to be recipients of funding from the CHIPS Act,
delighted to be part of the CLAWS Hub, and proud to help the U.S.
establish a strategic, long-term leadership position in these
critical next-generation semiconductor technologies,” said Sohail
Khan, Executive Vice President, Wide-Bandgap Electronics. “Wide-
and ultrawide-bandgap semiconductors enable the electrification of
transportation, including road vehicles, high-speed trains, and
mobile industrial machinery. They also enable smart power grids to
efficiently respond to fluctuations in energy demands by regulating
the delivery of electricity from conventional and renewable sources
to distribution networks, as well as to and from utility-scale
power storage and microgrids.”
In addition to DoD requirements for high-voltage, high-power
applications and systems including hybrid electric vehicles (HEVs),
more electric aircraft (MEA) components, directed energy, Navy
vessel power systems, and all-electric ships, silicon carbide power
electronics are increasingly recognized for their potential to
greatly improve the energy efficiency of artificial intelligence
(AI) data centers and traditional hyperscale data centers, where
power consumption is growing rapidly due to the exploding demand
for data- and compute-intensive workloads from AI, cryptocurrency
mining, and blockchain applications.
Single-crystal diamond promises to exceed the performance of
silicon carbide and greatly expand the applications universe with
quantum computing, quantum encryption, and quantum sensing.
About Coherent
Coherent empowers market innovators to define the future through
breakthrough technologies, from materials to systems. We deliver
innovations that resonate with our customers in diversified
applications for the industrial, communications, electronics, and
instrumentation markets. Headquartered in Saxonburg, Pennsylvania,
Coherent has research and development, manufacturing, sales,
service, and distribution facilities worldwide. For more
information, please visit us at coherent.com.
Contact
Amy WilsonManager, Corporate
Communicationscorporate.communications@coherent.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/cfd209a9-3992-4d20-aba5-9a3f27af7a65
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