• 200mm semiconductor fab to be world’s largest, using progressive manufacturing processes to provide next-generation silicon carbide gadgets

• Growth of Silicon Carbide Machine Manufacturing Facility in Europe Helps Accelerating Buyer Demand and Helps Firm’s Lengthy-Time period Earnings Outlook of $4 Billion in Fiscal Yr 2027

• A key a part of the corporate’s beforehand introduced $6.5 billion international capability growth plan. This contains the John Palmore Silicon Carbide Manufacturing Heart, the world’s largest silicon carbide crystal progress facility, at present beneath building in North Carolina, and the eventual building of the corporate’s Mohawk Valley fab.

• ZF Friedrichshafen will make a big funding in Wolfspeed to help the development of the undertaking.

• It’s deliberate as a part of the Vital Challenge of Widespread European Curiosity on Microelectronics and Communication Applied sciences (IPCEI) and relies on approval of state help from the European Fee.

Durham, NC & Endorf, Germany, February 1, 2023–(BUSINESS WIRE)–Wolfspeed Company (NYSE: WOLF), a worldwide chief in silicon carbide expertise and manufacturing, at present introduced the completion of its extremely automated, state-of-the-art 200 mm wafer fab. introduced plans to construct in Saarland, Germany. The corporate’s first fab in Europe is its most superior, improvement and manufacturing facility for ground-breaking innovation Silicon Carbide within the European Union to help the rising demand for a variety of automotive, industrial and power purposes. Create a. The Wolfspeed facility is deliberate as a part of a collaboration throughout the IPCEI for Microelectronics and Communication Applied sciences framework and relies on approval of state help from the European Fee. IPCEI funding is meant to help expertise improvement and preliminary deployment inside this undertaking. ZF Friedrichshafen can even help the brand new building by making vital investments as a part of a brand new strategic partnership introduced individually.

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The European fab announcement follows the corporate’s $6.5 billion capability growth initiative, which is able to embody the opening of the corporate’s 200 mm Mohawk Valley machine fab in April 2022 and the development of the 445-acre John Palmore Silicon Carbide Manufacturing Heart. is a vital a part of (180 ha) Silicon Carbide Supplies Facility in North Carolina. This may develop the corporate’s present materials manufacturing capability by greater than 10 instances his. The primary section of building of the supplies facility is anticipated to be accomplished by the tip of fiscal 12 months 2024.

Gregg Lowe, Wolfspeed President and CEO, mentioned: “Silicon carbide gadgets improve power effectivity and are essential to the worldwide transition to sustainable electrification. Important to help our growth, it was vital to us to arrange a facility within the coronary heart of Europe, near a lot of our prospects and companions, to foster collaboration on the subsequent technology of silicon carbide expertise. I hope.”

The announcement was made at an occasion on the deliberate 35-acre (14-hectare) fab, a former coal-fired energy plant in Saarland, Germany. German Chancellor Olaf Scholz was current to welcome Wolfspeed to the area, together with German Deputy Chancellor and Federal Minister for Financial and Local weather Motion Robert Habeck and Saarland Minister Anke Röhringer. backside. On behalf of the brand new partnership, ZF CEO Holger Klein and member of the ZF Board of Administration Stefan von Schumann additionally attended the announcement. Wolfspeed at present introduced a strategic partnership with ZF. This contains an funding in Wolfspeed and a joint silicon carbide R&D facility in Germany that can be a part of his IPCEI framework. Building of the fab is anticipated to begin within the first half of 2023, topic to EU Fee approval.

“This undertaking is a serious transformational engine and a piece drive for a historically industrial space. Moreover, it brings collectively key European know-how and reduces power consumption and CO2 emissions, thereby contributing to the European Inexperienced Deal. We’ll contribute to the implementation,” mentioned Minister Saarland. – Anke Röhringer, President. “We’re proud to have Wolfspeed, and we’re proud that the area has performed such an vital position in driving innovation in silicon and carbide semiconductors.”

The fab can be designed for breakthrough manufacturing processes that may produce the subsequent technology of silicon carbide gadgets. The brand new fab can even make use of progressive sustainability measures, reminiscent of the next share of recycled water and a decreased emissions footprint, to function a mannequin for extra sustainable fabs sooner or later. The fab is anticipated to make use of greater than 600 folks at full capability.

Adoption of silicon carbide energy gadgets is rising quickly in a number of markets, together with renewable power and power storage, electrical autos, charging infrastructure, industrial energy provides, traction and variable velocity drives. Silicon carbide permits smaller, lighter, and cheaper designs and converts power extra effectively to allow numerous new clear power purposes.

About Wolfspeed:
Wolfspeed (NYSE: WOLF) is a market chief within the international adoption of silicon carbide and GaN expertise. We offer industry-leading options for environment friendly power consumption and a sustainable future. Wolfspeed’s product household contains silicon carbide supplies, energy gadgets, and RF gadgets for quite a lot of purposes together with electrical autos, quick charging, 5G, renewable power and storage, and aerospace and protection. We unlock the facility of risk via exhausting work, collaboration and a ardour for innovation. For extra data, please go to www.wolfspeed.com.

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Wolfspeed® is a registered trademark of Wolfspeed, Inc.

Ahead-Trying Statements:
This press launch incorporates forward-looking statements by Wolfspeed that contain recognized and unknown dangers and uncertainties that might trigger Wolfspeed’s precise outcomes to vary materially from these indicated. Precise outcomes could differ materially as a result of a variety of elements, together with the danger that Wolfspeed could not obtain funding from the European Union’s vital IPCEI framework. Wolfspeed is not going to be responsible for any delays or different delays in constructing and/or launching manufacturing at this new machine manufacturing facility on time, at anticipated prices, inside anticipated job creation and anticipated manufacturing ranges, or in any respect. It’s possible you’ll run into difficulties. Dangers related to mass manufacturing transition from 150mm wafers to 200mm wafers. Continued tempo of migration in direction of the usage of silicon carbide gadgets in electrical autos and different industrial purposes. Wolfspeed’s capability to develop and design silicon carbide gadgets that proceed to enhance efficiency throughout a variety of markets. the danger that Wolfspeed could not have the ability to manufacture the product at a price low sufficient to supply it at a aggressive value or at a suitable margin; The chance that demand for silicon carbide is not going to develop as Wolfspeed expects. Fast improvement of latest applied sciences and competing merchandise that will undermine demand or render Wolfspeed’s merchandise out of date. and different elements mentioned in Wolfspeed’s filings with the Securities and Change Fee, together with its Type 10-Ok report and subsequent filings for the 12 months ended June 26, 2022. For extra product and firm data, please go to www.wolfspeed.com.

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