Durham, NC, September 23, 2019-Cree, Inc. (Nasdaq: CREE), a global leader in silicon carbide (SiC) technology, announces plans Create a silicon carbide (SiC) corridor on the east coast of the United States and build the world's largest silicon carbide (SiC) manufacturing facility. CREE will build a new 200mm power and radio frequency (RF) wafer manufacturing plant in Marcy, New York, USA that uses the most advanced technology and meets vehicle-grade standards. Production is underway at the company's Durham headquarters.
This new manufacturing facility is part of a previously announced plan to significantly increase production capacity for Wolfspeed's Silicon Carbide (SiC) and Gallium Nitride (GaN) businesses and will be built into a larger, highly automated and higher production A factory of capabilities. Through strategic cooperation with the office of the Governor of New York (Andrew M. Cuomo) and other states with local agencies and entities, the company decided to build the new plant in New York State, which will bring continuous and future capacity expansion and significant Net cost savings.
Therefore, CREE will continue to promote the transition from silicon (Si) to silicon carbide (SiC) technology, meet the company's growing demand for Wolfspeed technology, and support the continuous growth of electric vehicle (EV), 4G / 5G mobile and industrial markets.
CREG Chief Executive Officer Gregg Lowe said, "Silicon Carbide (SiC) is one of the most critical technologies of our time. It is the core of innovation and serves a series of the most pioneering and innovative markets today. The transformation of electric vehicles (EV), the deployment of ultra-fast 5G networks, etc. This wafer manufacturing plant, which uses the most advanced technology and meets vehicle-grade standards, is based on our 30 years of experience in commercializing breakthrough technologies to help Our customers are developing next-generation applications. We look forward to connecting our North Carolina and New York innovation centers to accelerate the adoption of silicon carbide (SiC). "
Eric J. Gertler, Acting Commissioner, President and CEO-designate of Empire State Development, said: "We are very excited to work with CREE to advance the transition from silicon (Si) to silicon carbide (SiC) .This collaboration will be a key part of our work to strengthen research and scientific assets and promote New York State's ability to attract more industries and create more jobs in the future. Mohawk Valley, New York has unique advantages and high value High-tech and scientific assets. This is an important step towards enhancing advanced manufacturing infrastructure and investing in the northern state economy. "
As part of this partnership, CREE will invest nearly $ 1 billion for construction, equipment, and other related costs in New York State's fab. New York State will provide $ 500 million in funding from Empire State Development, while CREE can enjoy additional local incentives and tax deductions, as well as equipment and tools from State University of New York. Therefore, the company expects to achieve a net capital savings of nearly US $ 280 million in the previously announced US $ 1 billion capacity expansion plan by 2024. At the same time, it will bring about a 25% increase in capacity compared to the previously planned plant. The new plant is scheduled for mass production in 2022, with a completed area of 480,000 square feet, of which nearly a quarter will be ultra-clean rooms, providing future capacity expansion. These expansion plans will further enhance CREE's leading position in market competition and accelerate the adoption of silicon carbide (SiC) in a series of high-growth industries.
Creation of Silicon Carbide (SiC) Corridor
Based on the Super Materials Facility in Durham and the state-of-the-art wafer fabrication facility adjacent to Utica, CREE will create a "Silicon Carbide (SiC) Corridor" that has been developed in North Carolina for over 30 years Research Triangle has accumulated research and development, and made full use of the rich resources of Mohawk Valley, New York State, which has a strong technical foundation.
CREE will work with local communities and four-year colleges in North Carolina and New York to develop training and internship programs to provide human resource reserves for high-tech employment and long-term growth opportunities in both places.