Corning's Hemlock to Get $325 Million Chips Act Funding for Chip-Grade Polysilicon

Dow Jones10-22

By Colin Kellaher

The U.S. government is awarding Corning's majority-owned Hemlock Semiconductor unit up to $325 million to expand its production capacity for semiconductor-grade polysilicon.

The Commerce Department on Monday said it signed a non-binding, preliminary memorandum of terms with Hemlock for direct funding under the Chips Act, a nearly $53 billion government effort passed in 2022 to jump-start domestic semiconductor production.

The Commerce Department said the proposed funding would support the construction of a new manufacturing plant on Hemlock's campus in Michigan dedicated to the production and purification of hyper-pure semiconductor-grade polysilicon, the foundational material for microprocessors, artificial intelligence chips, memory and power devices.

"Polysilicon is the bedrock of semiconductors, and it's important we have a reliable source of this material to manufacture the chips that help support our economic and national security," Commerce Secretary Gina Raimondo said in a statement.

Hemlock, which roughly 80% owned by Corning, is the only U.S.-based maker of hyper-pure polysilicon, the department added. Shin-Etsu Handotai, a unit of Japan's Shin-Etsu Chemical, owns the rest of Hemlock.

The Commerce Department said the proposed Hemlock project will create nearly 180 manufacturing jobs and more than 1,000 construction jobs over time.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

October 21, 2024 12:53 ET (16:53 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2477896801?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-10-22 00:53","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2477896801","market":"sh","top_or_hot":-1,"title":"Corning's Hemlock to Get $325 Million Chips Act Funding for Chip-Grade Polysilicon","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Colin Kellaher \n</p>\n<pre>\n \n</pre>\n<p>\n  The U.S. government is awarding Corning's majority-owned Hemlock Semiconductor unit up to $325 million to expand its production capacity for semiconductor-grade polysilicon. \n</p>\n<p>\n  The Commerce Department on Monday said it signed a non-binding, preliminary memorandum of terms with Hemlock for direct funding under the Chips Act, a nearly $53 billion government effort passed in 2022 to jump-start domestic semiconductor production. \n</p>\n<p>\n  The Commerce Department said the proposed funding would support the construction of a new manufacturing plant on Hemlock's campus in Michigan dedicated to the production and purification of hyper-pure semiconductor-grade polysilicon, the foundational material for microprocessors, artificial intelligence chips, memory and power devices. \n</p>\n<p>\n  \"Polysilicon is the bedrock of semiconductors, and it's important we have a reliable source of this material to manufacture the chips that help support our economic and national security,\" Commerce Secretary Gina Raimondo said in a statement. \n</p>\n<p>\n  Hemlock, which roughly 80% owned by Corning, is the only U.S.-based maker of hyper-pure polysilicon, the department added. Shin-Etsu Handotai, a unit of Japan's Shin-Etsu Chemical, owns the rest of Hemlock. \n</p>\n<p>\n  The Commerce Department said the proposed Hemlock project will create nearly 180 manufacturing jobs and more than 1,000 construction jobs over time. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Colin Kellaher at colin.kellaher@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 21, 2024 12:53 ET (16:53 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Corning's Hemlock to Get $325 Million Chips Act Funding for Chip-Grade Polysilicon</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCorning's Hemlock to Get $325 Million Chips Act Funding for Chip-Grade Polysilicon\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-22 00:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Colin Kellaher \n\n\n \n\n\n  The U.S. government is awarding Corning's majority-owned Hemlock Semiconductor unit up to $325 million to expand its production capacity for semiconductor-grade polysilicon....</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4109","symbol_name":"特种化学制品","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2477896801","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2477896801","pubTimestamp":1729529580,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"The U.S. government is awarding Corning's majority-owned Hemlock Semiconductor unit up to $325 million to expand its production capacity for semiconductor-grade polysilicon.The Commerce Department on Monday said it signed a non-binding, preliminary memorandum of terms with Hemlock for direct funding under the Chips Act, a nearly $53 billion government effort passed in 2022 to jump-start domestic semiconductor production.The Commerce Department said the proposed funding would support the construction of a new manufacturing plant on Hemlock's campus in Michigan dedicated to the production and purification of hyper-pure semiconductor-grade polysilicon, the foundational material for microprocessors, artificial intelligence chips, memory and power devices.\"Polysilicon is the bedrock of semiconductors, and it's important we have a reliable source of this material to manufacture the chips that help support our economic and national security,\" Commerce Secretary Gina Raimondo said in a stateme","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4109":"特种化学制品","GLW":"康宁","BK4148":"电子元件","BK4585":"ETF&股票定投概念","SHECY":"Shin-Etsu Chemical Co., Ltd.","BK4588":"碎股","BK4512":"苹果概念","IE00BFMHRM44.USD":"NEUBERGER BERMAN GLOBAL EQUITY MEGATRENDS \"A\" (USD) ACC","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC"},"translate_title":"康宁的Hemlock将获得3.25亿美元的芯片级多晶硅资金","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GLW":1,"SHECY":0.9},"content_text":"By Colin Kellaher \n\n\n \n\n\n  The U.S. government is awarding Corning's majority-owned Hemlock Semiconductor unit up to $325 million to expand its production capacity for semiconductor-grade polysilicon. \n\n\n  The Commerce Department on Monday said it signed a non-binding, preliminary memorandum of terms with Hemlock for direct funding under the Chips Act, a nearly $53 billion government effort passed in 2022 to jump-start domestic semiconductor production. \n\n\n  The Commerce Department said the proposed funding would support the construction of a new manufacturing plant on Hemlock's campus in Michigan dedicated to the production and purification of hyper-pure semiconductor-grade polysilicon, the foundational material for microprocessors, artificial intelligence chips, memory and power devices. \n\n\n  \"Polysilicon is the bedrock of semiconductors, and it's important we have a reliable source of this material to manufacture the chips that help support our economic and national security,\" Commerce Secretary Gina Raimondo said in a statement. \n\n\n  Hemlock, which roughly 80% owned by Corning, is the only U.S.-based maker of hyper-pure polysilicon, the department added. Shin-Etsu Handotai, a unit of Japan's Shin-Etsu Chemical, owns the rest of Hemlock. \n\n\n  The Commerce Department said the proposed Hemlock project will create nearly 180 manufacturing jobs and more than 1,000 construction jobs over time. \n\n\n \n\n\n  Write to Colin Kellaher at colin.kellaher@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 21, 2024 12:53 ET (16:53 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2477896801"}