Wolfspeed, Inc. received a conditional loan commitment from the U.S. Department of War’s Office of Strategic Capital. The commitment is for $1.5 billion over 30 years and is intended to strengthen the domestic supply chain for advanced silicon carbide (SiC) and gallium nitride (GaN) semiconductors, which are vital to U.S. national security and economic stability.
The financing would support Wolfspeed’s production and development of these materials. Plans include upgrading gallium nitride epitaxy capabilities for next-generation communications and electronic warfare systems, and developing radiation-hardened SiC and GaN products for defense and aerospace applications.
The commitment is contingent on completing due diligence and negotiating definitive agreements.