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John Palmore Silicon Carbide Manufacturing Center (“JP”) is a $5 billion investment that will bring jobs and economic growth to North Carolina
Siler City, NC, March 26, 2024–(BUSINESS WIRE)–Today, Wolfspeed, Inc. (NYSE: WOLF), a global leader in silicon carbide technology, announced that We welcomed our employees to the ceremony. to celebrate the completion of construction on the $5 billion John Palmore Silicon Carbide Manufacturing Center. Located in Chatham County, North Carolina, JP will produce 200mm silicon carbide wafers, significantly expanding Wolfspeed’s material production capacity and meeting the demand for next-generation semiconductors essential to the energy transition and AI.
“We are excited to reach this important milestone with our hard-working team, loyal customers, community partners, and passionate supporters like Senator Thom Tillis.” Wolfspeed said Greg Lowe, President and CEO of . “This facility is a testament to Wolfspeed’s commitment to our local communities and domestic workforce, and further strengthens our position as a global leader in silicon carbide production. The state’s economy will grow by more than $17.5 billion over the next 20 years, creating 1,800 good-paying jobs by 2030. will be done. ”
“Wolfspeed’s $5 billion investment in Chatham County is another example of why North Carolina is the best state in the nation to do business in,” said Senator Tillis. “I am proud to have voted in favor of the CHIPS and Science Act, which will provide critical support for domestic semiconductor manufacturing. And I am proud to vote in favor of the CHIPS and Science Act, which will provide critical support for domestic semiconductor manufacturing. And I am proud to vote in favor of the CHIPS and Science Act, which will provide critical support for domestic semiconductor manufacturing. I commend the company’s efforts.”
JP is funding a total of $5 billion, supplemented by public and private support, aimed at accelerating the transition from silicon to silicon carbide and increasing the supply of this material, recently deemed essential to the energy transition by the U.S. Department of Energy. is making an investment. Construction of the first phase is expected to be completed on the 445-acre site by the end of 2024.
The implementation of JP supports recently signed customer agreements with Renesas, Infineon and other companies, while facilitating meaningful progress toward Wolfspeed’s long-term growth strategy. JP will primarily produce 200mm silicon carbide wafers, which are 1.7 times larger than 150mm wafers, which will improve wafer efficiency and ultimately reduce costs. JP supports Wolfspeed’s vision to accelerate the adoption of silicon carbide semiconductors across a wide range of end markets and usher in a new era of energy efficiency.
Wolfspeed currently produces more than 60% of the world’s silicon carbide materials at its headquarters in Durham, North Carolina, and is undertaking a $6.5 billion capacity expansion effort to dramatically increase production. Masu.
About Wolfspeed
Wolfspeed (NYSE: WOLF) is a market leader in global implementation of silicon carbide technology. We provide industry-leading solutions for efficient energy consumption and a sustainable future. Wolfspeed’s product family includes silicon carbide materials and power devices for a variety of applications including electric vehicles, fast charging, and renewable energy and storage. We unleash the power of possibility through hard work, collaboration and a passion for innovation. For more information, please visit www.wolfspeed.com.
X (old Twitter): @Wolfspeed
LinkedIn: @Wolfspeed
Wolfspeed® is a registered trademark of Wolfspeed, Inc.
Forward-looking statements:
This press release contains forward-looking statements by Wolfspeed that involve known and unknown risks and uncertainties that could cause Wolfspeed’s actual results to differ materially from those indicated. Actual results are subject to a number of risks associated with Wolfspeed’s expansion plans, including, among other things, design and construction delays and cost overruns, the timing and amount of government incentives actually received, preparation delays and other difficulties. It can vary greatly depending on factors. Towards increased production. the risk of production or supply chain challenges impacting Wolfspeed’s ability to ship sufficient quantities to meet customer requirements; The continued pace of transition to the use of silicon carbide devices in electric vehicles and other industrial applications. the risk that Wolfspeed may not be able to manufacture its products at a sufficiently low cost to offer them at competitive prices or acceptable margins; customer acceptance of Wolfspeed’s products; the risk that demand for silicon carbide will not grow as Wolfspeed expects; the rapid development of new technologies and competitive products that could impair demand or render Wolfspeed’s products obsolete; and other factors discussed in Wolfspeed’s filings with the Securities and Exchange Commission, including its report on Form 10-K for the year ended June 25, 2023 and subsequent filings. For additional product and company information, please visit www.wolfspeed.com.
View source version on businesswire.com. https://www.businesswire.com/news/home/20240326668100/ja/
contact address
Media contact point:
bridget johnson
Head of Corporate Marketing and Communications
847-269-2970
media@wolfspeed.com
Public relations activities for investors:
Tyler Gronbach
Vice President of Investor Relations
919-407-4820
investorrelations@wolfspeed.com
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