The US Commerce Department said on Thursday it plans to award US$389 million (HK$3.03 billion) in research and development funding to four companies working on power semiconductor devices and critical materials, with the government receiving minority equity stakes.
The department in recent months has awarded 19 R&D grants to semiconductor firms from a US$10 billion fund approved by Congress in 2022. Commerce Secretary Howard Lutnick said in a statement the awards will “accelerate American semiconductor innovation to enhance our domestic energy and power resources.”
The department said it had signed letters of intent to provide four new awards:
- Helion will receive up to US$175 million to develop high-voltage power semiconductors and advanced energy power modules in fusion power generation. The semiconductors will power and use energy from magnets driving Helion fusion generators.
- Commonwealth Fusion Systems will receive up to US$85 million to develop semiconductors for radio-frequency plasma heating, power electronics, fusion diagnostics, and radiation-hardened electronics.
- Vertical Semiconductor will receive up to US$73 million to advance its vertical gallium nitride power semiconductors for use in AI data center racks.
- Sibelco will receive up to US$56 million to develop next-generation purification for ultra-high-purity quartz used in the semiconductor supply chain.
The department said as a condition of funding, the US government will receive minority, non-controlling and non-voting equity stakes.
Reuters
