Wolfspeed Expands 150mm Silicon Carbide Wafer Supply Agreement with a Leading Global Semiconductor Company
January 31 2024 - 8:00AM
Business Wire
Expanded supply agreement is now worth
approximately $275M and demonstrates continued demand for silicon
carbide across several critical industries
Wolfspeed, Inc. (NYSE: WOLF), the global leader in silicon
carbide technology, today announced the expansion of an existing
long-term silicon carbide wafer supply agreement with a leading
global semiconductor company. The expanded agreement, which is now
worth approximately $275 million in total, calls for Wolfspeed to
supply the company with 150mm silicon carbide bare and epitaxial
wafers, reinforcing both companies’ visions for an industry-wide
transition from silicon to silicon carbide semiconductor power
devices.
“As the global leader in silicon carbide wafer production,
Wolfspeed is uniquely positioned to be a critical supplier of
high-quality and advanced silicon carbide materials at scale. We
will continue to be an important partner to power device
manufacturers who need the highest-quality silicon carbide wafers
to service their customers,” said Dr. Cengiz Balkas, SVP and GM of
Materials for Wolfspeed. “This agreement further strengthens our
long-time partnership with a best-in-class power semiconductor
manufacturer. Our collective efforts are helping to address the
rapidly expanding opportunity for silicon carbide and better
address the unfulfilled demand that exists in the marketplace
today.”
The adoption of silicon carbide-based power solutions is rapidly
growing across multiple markets, including industrial and EVs.
Silicon carbide solutions enable smaller, lighter and more
cost-effective designs, converting energy more efficiently to
unlock new applications in electrification. This supply agreement
will enable silicon carbide applications in a broad range of
industries, such as: renewable energy and storage, electric
vehicles, charging infrastructure, industrial power supplies,
traction and variable speed drives.
Wolfspeed is the global leader in the manufacturing of silicon
carbide wafers and epitaxial wafers. The company is currently
expanding its manufacturing capacity in the United States and has
plans to open a new, automated materials factory in Siler City,
North Carolina later this year that will produce 200mm silicon
carbide wafers. The new materials factory will increase Wolfspeed’s
current materials production capacity by ten times.
About Wolfspeed, Inc.:
Wolfspeed (NYSE: WOLF) leads the market in the worldwide
adoption of silicon carbide technologies. We provide
industry-leading solutions for efficient energy consumption and a
sustainable future. Wolfspeed’s product families include silicon
carbide material and power devices targeted for various
applications such as electric vehicles, fast charging, and
renewable energy and storage. We unleash the power of possibilities
through hard work, collaboration and a passion for innovation.
Learn more at www.wolfspeed.com.
X (formerly Twitter): @Wolfspeed
LinkedIn: @Wolfspeed
Wolfspeed® is a registered trademark of Wolfspeed, Inc.
Forward Looking Statements:
This press release contains forward-looking statements by
Wolfspeed involving risks and uncertainties, both known and
unknown, that may cause Wolfspeed’s actual results to differ
materially from those indicated. Actual results may differ
materially due to a number of factors, including risks associated
with Wolfspeed’s expansion plans, including, among other things,
design and construction delays and cost overruns, timing and amount
of government incentives actually received, and delays or other
difficulties in preparing for and ramping production; the risk of
production or supply chain challenges that impact Wolfspeed’s
ability to ship in sufficient quantities to satisfy customer
requirements; the continued pace of the transition to using silicon
carbide devices in electric vehicles and other industrial uses; the
risk that Wolfspeed may be unable to manufacture its products with
sufficiently low cost to offer them at competitive prices or with
acceptable margins; customer acceptance of Wolfspeed’s products;
the risk that demand for silicon carbide will not grow as Wolfspeed
expects; the rapid development of new technology and competing
products that may impair demand or render Wolfspeed’s products
obsolete; and other factors discussed in Wolfspeed’s filings with
the Securities and Exchange Commission, including its report on
Form 10-K for the year ended June 25, 2023, and subsequent filings.
For additional product and company information, please refer to
www.wolfspeed.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240131746353/en/
Media Relations: Bridget Johnson Head of Corporate Marketing and
Communications 847-269-2970 media@wolfspeed.com
Investor Relations: Tyler Gronbach VP, External Affairs
919-407-4820 investorrelations@wolfspeed.com
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