Articles from Polar Semiconductor

Polar Semiconductor (“Polar”), the only U.S.-owned merchant foundry specializing in sensor, power, and high-voltage semiconductors, announced today the finalization of a strategic agreement with Renesas Electronics Corporation (“Renesas”) to license their Gallium Nitride on Silicon D-Mode (GaN-on-Si) technology. As part of this agreement, Polar will fabricate High Voltage 650V Class GaN-on-Si devices for Renesas and other customers in its 200mm automotive quality high-volume manufacturing facility in Minnesota. This facility, recently expanded with state-of-the-art processing and automation equipment, is poised to meet growing demand for next-generation semiconductor solutions.

Polar Semiconductor (“Polar”), the only U.S.-owned merchant foundry specializing in sensor, power and high-voltage semiconductors, announced that it has signed a technology licensing agreement with Tower Semiconductor (“Tower”) to enable domestic production of Tower’s robust TS18 Power Management (“TS18PM”) process. Under the terms of the agreement, Polar will license Tower’s broad 180nm technology to become the only U.S.-based foundry capable of high-voltage power BCD semiconductor wafer production for Aerospace & Defense and commercial end markets.

Polar Semiconductor (“Polar” or the “Company”), a U.S.-based semiconductor manufacturer specializing in sensor, power, and high-voltage wafer production, announced today that the company has completed its sale to Niobrara Capital and Prysm Capital. The $175 Million in equity financing has been closed to convert Polar to a U.S.-owned merchant foundry and fund expansion of its Bloomington, Minnesota manufacturing facility. In total, Polar expects to invest approximately $525 Million in the expansion of the facility over the next two years and branch into innovative technologies to serve new customers and markets. Polar has signed Award Documents with the U.S. Department of Commerce, under which it will receive up to $123 Million in direct funding as part of the U.S. CHIPS and Science Act, and with the Minnesota Department of Employment and Economic Development (DEED), under which it will receive $75 Million in incentives as part of the Minnesota Forward Fund. Polar is the first award recipient under the CHIPS Incentives Program’s Funding Opportunity for Commercial Fabrication Facilities and the Minnesota Forward Fund. Polar plans to claim the Department of the Treasury’s Investment Tax Credit, which is expected to be up to 25% of qualified capital expenditures.

Polar Semiconductor (“Polar” or the “Company”), the only U.S.-based manufacturer specializing in sensor, power, and high-voltage semiconductors, today announced plans to expand its Bloomington, Minnesota manufacturing facility and branch into innovative technologies to serve new customers and markets. Polar expects to invest approximately $525 million in the expansion of the facility over the next two years, subject to receipt of appropriate approvals and federal, state, and local incentives. Polar has signed a non-binding preliminary memorandum of terms with the Department of Commerce, under which it would receive $120 million in proposed direct funding as part of the U.S. CHIPS and Science Act, and a $75 million investment from the State of Minnesota. In addition, Polar has entered into a definitive agreement pursuant to which Niobrara Capital and Prysm Capital are leading an equity investment of $175 million, enabling Polar to transition to a U.S.-owned merchant foundry. Polar plans to claim the Department of the Treasury’s Investment Tax Credit, which is expected to be up to 25% of qualified capital expenditures.