US to award $389 million in R&D funds for power semiconductors, critical materials

The US Commerce Department said ​on Thursday it plans ​to award $389 million 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 $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 $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 $85 million to ⁠develop semiconductors for radio-frequency plasma heating, power electronics, fusion diagnostics, and radiation-hardened electronics.

• Vertical Semiconductor ⁠will ​receive up to $73 million to advance its vertical gallium nitride power semiconductors for use in AI data center racks. • Sibelco ⁠will receive up to $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.