KISSIMMEE, Fla.–(BUSINESS WIRE)–SkyWater Technology (NASDAQ: SKYT), the trusted technology delivery partner, today announced that $50.8 million has been awarded to the Osceola County Board of Commissioners for the construction of the semi -Central Florida Drivers for Large-Scale Prosperity, as part of the US Department of Commerce’s Economic Development Administration (EDA) Regional Build Back Better Challenge. The Osceola County-led Prosperity Coalition’s proposal will build on the initial success of NeoCity, investing in infrastructure, workforce development and community reinvestment that leverages new processes of high-demand production to propel Central Florida as a leader in semiconductor research, development and manufacturing. .
The EDA funds will be distributed among six projects, two of which include federal funding of $36.5 million to improve SkyWater’s advanced packaging operations at the Center for Neovation: expanding and facilitating the clean room and the purchase and installation of tools and machinery. Pursuant to the award, SkyWater will provide a “matching share” of 20% of the project costs associated with the facility.
Coalition partners include the Orlando Economic Partnership, University of Central Florida (UCF), BRIDG, SkyWater, Florida High Tech Corridor and Valencia College. The Osceola County Coalition was one of 21 winners out of more than 500 submissions and the only recipient from the semiconductor industry.
“The Biden administration is committed to increasing domestic semiconductor production, building R&D leadership, and developing a diverse workforce for this critical industry,” said U.S. Commerce Secretary Gina Raimondo. “This is a transformative investment that will diversify the state’s economy, revitalize the community around an industry of the future, and support the development and manufacturing of low-volume, highly customized semiconductor products that are vital. for Florida’s aerospace, defense and medical industries.”
“This Build Back Better grant will help address the microchip shortage, reduce costs, and boost high-paying local jobs,” said Congressman Darren Soto (FL-09).
“We are thrilled to be part of this Build Back Better award, which was achieved through the exceptional efforts of Osceola County, BRIDG and coalition members, and we salute the Biden administration’s focus on the public-private partnerships to propel U.S. semiconductor R&D and manufacturing. next level,” said SkyWater President and CEO Thomas Sonderman. “The progress NeoCity has made to date in such a short time is exceptional. SkyWater is committed to expanding our operations at the Center for Neovation with the support of this funding to accelerate the relocation of the semiconductor supply chain.
SkyWater’s ecosystem partners at the Center for Neovation include BRIDG, a non-profit organization focused on building the NeoCity ecosystem, Interuniversity Microelectronics Center (IMEC), an international research and development organization active in the fields nanoelectronics and digital technologies; Tokyo Electron (TEL), a leading supplier of semiconductor equipment; and SUSS MicroTec, a leading provider of advanced hybrid packaging and bonding tools, among others. To learn more about NeoCity, visit Orlando.org/neocity.
About SkyWater Technology
SkyWater (NASDAQ: SKYT) is an American semiconductor manufacturer and a trusted DMEA-accredited Category 1A foundry. SkyWater’s Technology as a ServiceSM model streamlines the path to production for customers with heterogeneous development services, volume production and integration solutions at its world-class US facilities. This pioneering model enables innovators to co-create the next wave of technologies with various categories including mixed-signal CMOS, ROICs, ultra-hard ICs, power management, MEMS, superconducting ICs , photonics, carbon nanotubes and interposers. SkyWater serves growing markets including aerospace and defense, automotive, biomedical, cloud and IT, consumer, industrial and IoT. For more information, visit: www.skywatertechnology.com.
SkyWater Technology Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements based on the company’s current expectations or forecasts of future events, rather than on past events and results. , and these statements are not guarantees of future performance. Forward-looking statements are subject to risks, uncertainties and assumptions, which may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Key factors that could cause the Company’s actual results to differ from those expected or anticipated include, but are not limited to, the factors discussed in the “Risk Factors” section of its Annual Report on Form 10- K and quarterly reports on Form 10-Q. , and in other documents the Company files with the SEC, which are available at http://www.sec.gov. The Company undertakes no obligation to update any forward-looking statements, which speak only as of the date of this press release.