India, Oct. 14 -- Wolfspeed Inc. has received a conditional loan commitment letter from the U.S. Department of War ("DoW"), through its Office of Strategic Capital ("OSC"), for up to $1.5 billion of long-term financing to support the domestic development and production of silicon carbide (SiC) materials and wide bandgap power devices, with an additional focus on U.S. national security applications.

Beyond supporting the domestic wide bandgap supply chain, which is critical to the U.S. defense and economic industrial base, the $1.5 billion commitment will advance key DoW initiatives. Specifically, Wolfspeed plans to use the financing to, without limitation, upgrade its gallium nitride (GaN) epitaxy capabilities for next-generation communi...