Gina Raimondo, US Secretary of Commerce, stated, 'The Biden-Harris Administration's investment in Polar will create a new US-owned foundry for sensor and power semiconductors and modernize and expand Polar's facilities in Minnesota, strengthening our national and economic security, bolstering our supply chains, and creating quality jobs.' This reflects not only the investment in manufacturing capabilities but also emphasizes the importance of maintaining economic security.
The objective is to 'almost double' the production of sensor and power chips within two years. This initiative represents a significant increase in the manufacturing capabilities of Polar Semiconductor, which is geared towards transforming the company into a majority U.S.-owned commercial foundry.
Currently, with the backing of the CHIPS and Science Act funding, Polar Semiconductor aims to modernize its manufacturing facility in Bloomington, Minnesota, which will aid the U.S. semiconductor supply chain and create additional job opportunities in the region.
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