DEPARTMENT OF COMMERCE ANNOUNCES LETTERS OF INTENT WITH 4 COMPANIES FOR $389 MILLION OF R&D AWARDS TO STRENGTHEN AMERICA'S ENERGY SEMICONDUCTOR SUPPLY CHAIN

WASHINGTON, Oct. 23 -- The U.S. Department of Commerce's National Institute of Standards & Technology issued the following press release:

WASHINGTON, D.C. - The Department of Commerce today announced the signing of four letters of intent to provide up to $389 million in federal R&D awards under the CHIPS and Science Act.These incentives will accelerate R&D supporting the semiconductors and materials needed for a variety of applications, including the control, conversion, and delivery of power. Power electronics is foundational to modernizing the domestic grid and powering critical energy infrastructure loads.Improvements in power converter performance can drive significant benefits, including higher power efficiency, enhanced grid stabilit...