Commerce Department Invests $30 Million in Domestic Semiconductor Production

The U.S. Department of Commerce has finalized a $30 million direct funding agreement with Powerex under the CHIPS Act. This investment aims to boost domestic manufacturing and research and development of critical power modules, such as Silicon Carbide Power Modules. These components are essential for various applications, including defense systems, industrial motor drives, and electric vehicles, thereby strengthening the national power conversion supply chain.