US to award $389 million in R&D funds for power semiconductors and critical materials
SMH•The US Commerce Department plans to award up to $389 million in R&D funding to four companies developing power semiconductors and critical materials, in exchange for minority equity stakes.
1. Four planned awards
The Commerce Department said it signed letters of intent for up to $175 million for Helion, up to $85 million for Commonwealth Fusion Systems, up to $73 million for Vertical Semiconductor and up to $56 million for Sibelco.
2. Funding conditions
The projects cover power semiconductors and energy modules for fusion generation, fusion-related electronics, gallium nitride semiconductors for AI data center racks and purification of ultra-high-purity quartz. The government will receive minority, non-controlling and non-voting equity stakes as a condition of funding. The department said it has awarded 19 R&D grants to semiconductor firms in recent months from a $10 billion fund approved by Congress in 2022.
