Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Investing

Hemlock Semiconductor Secures US$325 Million to Boost US Polysilicon Production

by admin October 23, 2024
October 23, 2024
Hemlock Semiconductor Secures US$325 Million to Boost US Polysilicon Production

Hemlock Semiconductor (HSC) is set to enhance its operational capacity in Michigan, US, after the announcement of a preliminary agreement for a US$325 million grant from the Biden administration.

According to a Monday (October 21) press release, the funds will be allocated to HSC as part of the government’s broader efforts to strengthen the US semiconductor supply chain under the CHIPS and Science Act .

The multimillion-dollar investment will support the building of a new manufacturing facility at HSC’s existing site in Hemlock, Michigan, making it a critical player in the US semiconductor supply chain. The initiative is also poised to boost the state’s economy by creating close to 180 manufacturing jobs and 1,000 construction jobs over time.

The new facility will produce and purify hyper-pure polysilicon, which is key for semiconductor manufacturing.

“Polysilicon is the bedrock of semiconductors,” said US Secretary of Commerce Gina Raimondo.

Founded in 1961, HSC is currently the only US-based manufacturer of hyper-pure polysilicon.

The proposed investment marks the company’s first major expansion in over two decades, and is anticipated to significantly boost its production capabilities as demand for advanced semiconductor technologies increases.

“HSC is proud to be a manufacturing powerhouse for two vital industries of the future — semiconductor and solar,” said HSC Chairman and CEO AB Ghosh in the same announcement.

‘Bolstered by the CHIPS Act, we are planning for a once-in-a-generation investment in advanced technologies to continue serving as a top polysilicon supplier to the leading-edge semiconductor market,” he added.

National Economic Advisor Lael Brainard also highlighted the significance of the HSC investment in reinforcing Michigan’s status as a leader in innovation and manufacturing. “Today’s announcement with HSC establishes a critical capability in the supply chain for semiconductors, solar, and AI here in America,” she commented.

The funding includes a commitment of US$5 million to support the development of the local workforce. HSC has established partnerships with educational institutions, including Delta College and the Saginaw Career Complex, to create training programs aimed at preparing workers for careers in semiconductor manufacturing.

HSC is dedicated to promoting sustainability as well, and has collaborated with state authorities to promote low-carbon initiatives geared at reducing emissions associated with polysilicon production.

Overall, the CHIPS and Science Act has earmarked over US$36 billion for semiconductor manufacturing across the country with the intention of generating approximately 125,000 jobs through various initiatives.

The proposed funding reflects the administration’s commitment to revitalizing the US semiconductor industry, which has seen extensive outsourcing over the past few decades.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

0
FacebookTwitterGoogle +Pinterest
previous post
Excellent Metallurgical Results at Hotinvaara Enhance Entire Pulju Project
next post
‘Polarizing’ way of picking party nominees targeted in ballot questions in these 6 states

Related Posts

Acquisition of Silver Extraction Technology

August 12, 2025

Joint Venture Secured over Advanced Gold Project in...

February 12, 2025

Chris Vermeulen: Gold Short-term Price Target, Plus Key...

January 29, 2025

Top 5 Canadian Mining Stocks This Week: Gold...

September 23, 2024

Extension of Broker Option and Retail Offer

February 22, 2025

R&D Tax Refund of $7.9M Received

November 11, 2024

Bonanza Grade Gold Results at Flicka Lake

November 6, 2024

FPX Nickel Announces Results of 2025 Annual General...

June 28, 2025

Rick Rule: Where I See 10+ Bagger Potential,...

March 8, 2025

Exceptional silver and cobalt assays from seaweed

February 21, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • ‘Doctor Strangelove with a mustache’: Bolton blasted for ‘profiteering’ off US secrets by White House advisor

      August 27, 2025
    • EPA urged to axe funds for ‘radical’ climate project accused of training judges, state AGs rally

      August 27, 2025
    • Bolton may be in hot water as FBI investigation expands beyond controversial book

      August 27, 2025
    • EPA urged by state AGs to axe funds for ‘radical’ climate project accused of training judges

      August 27, 2025
    • Intel rival SkyWater pitches itself as all-American firm as Trump mulls more equity deals

      August 27, 2025

    Categories

    • Business (1,083)
    • Investing (2,915)
    • Politics (3,567)
    • Stocks (1,155)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved