TechCrunch
The Biden administration announced Monday that Polar Semiconductor will receive up to $120 million in federal funds to expand its chip manufacturing facility in Minnesota. The funding stems from the bipartisan CHIPS and Science Act, which Biden signed into law in August 2022 to strengthen the U.S. supply of semiconductors. The expansion of Polar Semiconductor’s facility would enable the company to double its U.S. production capacity of sensor and power chips within two years, the U.S. Department of Commerce said in a press release.