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07.10.26 - 22:09
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Wolfspeed Announces Conditional 30-Year, $1.5 Billion Loan Commitment from U.S. Department of War to Advance Domestic Wide Bandgap Supply Chain (Business Wire)
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Represents another significant step in Wolfspeed's long-term financing and plan to strengthen its domestic wide bandgap semiconductor technology platformDURHAM, N.C.--(BUSINESS WIRE)--Wolfspeed, Inc. (NYSE: WOLF) today announced it has received a conditional loan commitment letter from the U.S. Department of War (“DoW”), through its Office of Strategic Capital (“OSC”), for up to $1.5 billion of long-term financing to support the domestic development and production of silicon carbide (SiC) materials and wide bandgap power devices, with an additional focus on U.S. national security applications.
Beyond supporting the domestic wide bandgap supply chain, which is critical to the U.S. defense and economic industrial base, the $1.5 billion commitment will advance key DoW initiatives. Specifically, Wolfspeed plans to use the financing to, without limitation, upgrade its gallium nitride (GaN) epitaxy capabilities for next generation communications infrastructure and electronic warfare systems and develop...
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