Biden-Harris Administration Announces Preliminary Terms with Wolfspeed to Solidify U.S. Technological Leadership in Silicon Carbide Manufacturing
The Biden-Harris Administration announced that the U.S. Department of Commerce and Wolfspeed, Inc. have signed a non-binding preliminary memorandum of terms (PMT) to provide up to $750 million in proposed direct funding under the CHIPS and Science Act. The proposed funding would support the construction of a new silicon carbide wafer manufacturing facility in Siler City, North Carolina, helping to secure a reliable domestic supply of the semiconductors.