Agreement Highlights:
- Fortifies Renesas’ commitment to boost its power semiconductor
roadmap
- $2 Billion deposit to Wolfspeed secures supply agreement for
both 150mm and 200mm silicon carbide wafers and supports
Wolfspeed’s U.S. capacity expansion plans
- Agreement supports adoption of silicon carbide in automotive,
industrial and energy markets
Renesas Electronics Corporation (TSE:6723, “Renesas”), a premier
supplier of advanced semiconductor solutions, and Wolfspeed, Inc.
(NYSE: WOLF, “Wolfspeed”), the global leader in silicon carbide
technology, today announced the execution of a wafer supply
agreement and $2 billion (USD) deposit by Renesas to secure a 10
year supply commitment of silicon carbide bare and epitaxial wafers
from Wolfspeed. The supply of high-quality silicon carbide wafers
from Wolfspeed will pave the way for Renesas to scale production of
silicon carbide power semiconductors starting in 2025. The signing
ceremony of the agreement was held at Renesas’ headquarters in
Tokyo between Hidetoshi Shibata, President and CEO of Renesas, and
Gregg Lowe, President and CEO of Wolfspeed.
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the full release here:
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Hidetoshi Shibata, President and CEO of
Renesas, and Gregg Lowe, President and CEO of Wolfspeed (Photo:
Business Wire)
The decade-long supply agreement calls for Wolfspeed to provide
Renesas with 150mm silicon carbide bare and epitaxial wafers
scaling in CY2025, reinforcing the companies’ vision for an
industry-wide transition from silicon to silicon carbide
semiconductor power devices. The agreement also anticipates
supplying Renesas with 200mm silicon carbide bare and epitaxial
wafers after the recently announced John Palmour Manufacturing
Center for Silicon Carbide (the “JP”) is fully operational.
The need for more efficient power semiconductors, which supply
and manage electricity, is dramatically increasing throughout
automotive and industrial applications, spurred by the growth of
electric vehicles (EVs) and renewable energy. Renesas is moving
quickly to address the growing demand for power semiconductors by
expanding its in-house manufacturing capacity. The company recently
announced the restart of its Kofu Factory to produce IGBTs, and
establishment of a silicon carbide production line at its Takasaki
Factory.
Compared to conventional silicon power semiconductors, silicon
carbide devices enable higher energy efficiency, greater power
density and a lower system cost. In an increasingly
energy-conscious world, the adoption of silicon carbide is becoming
ever more pervasive across multiple high-volume applications
spanning EVs, renewable energy and storage, charging
infrastructure, industrial power supplies, traction and variable
speed drives.
“The wafer supply agreement with Wolfspeed will provide Renesas
with a stable, long-term supply base of high-quality silicon
carbide wafers. This empowers Renesas to scale our power
semiconductor offerings to better serve customers’ vast array of
applications,” said Hidetoshi Shibata, President and CEO of
Renesas. “We are now poised to elevate ourselves as a key player in
the accelerating silicon carbide market.”
“With the steepening demand for silicon carbide across the
automotive, industrial and energy sectors, it’s critically
important we have best-in-class power semiconductor customers like
Renesas to help lead the global transition from silicon to silicon
carbide,” said Gregg Lowe, President and CEO of Wolfspeed. “For
more than 35 years, Wolfspeed has focused on producing silicon
carbide wafers and high-quality power devices, and this
relationship marks an important step in our mission to save the
world energy.”
The Renesas $2 billion deposit will help support Wolfspeed’s
ongoing capacity construction projects including the JP, the
world’s largest silicon carbide materials factory in Chatham
County, North Carolina. The state-of-the-art, multi-billion-dollar
facility is targeted to generate a more than 10-fold increase from
Wolfspeed’s current silicon carbide production capacity on its
Durham, North Carolina campus. The facility will produce primarily
200mm silicon carbide wafers, which are 1.7x larger than 150mm
wafers, translating into more chips per wafer and ultimately, lower
device costs.
(Remarks) All names of products or services mentioned in this
press release are trademarks or registered trademarks of their
respective owners.
About Renesas Electronics Corporation:
Renesas Electronics Corporation (TSE: 6723) empowers a safer,
smarter and more sustainable future where technology helps make our
lives easier. The leading global provider of microcontrollers,
Renesas combines our expertise in embedded processing, analog,
power and connectivity to deliver complete semiconductor solutions.
These Winning Combinations accelerate time to market for
automotive, industrial, infrastructure and IoT applications,
enabling billions of connected, intelligent devices that enhance
the way people work and live. Learn more at renesas.com. Follow us
on LinkedIn, Facebook, Twitter, YouTube, and Instagram.
About Wolfspeed, Inc.:
Wolfspeed (NYSE: WOLF) leads the market in the worldwide
adoption of silicon carbide and GaN technologies. We provide
industry-leading solutions for efficient energy consumption and a
sustainable future. Wolfspeed’s product families include silicon
carbide materials, power devices and RF devices targeted for
various applications such as electric vehicles, fast charging, 5G,
renewable energy and storage, and aerospace and defense. We unleash
the power of possibilities through hard work, collaboration and a
passion for innovation. Learn more at www.wolfspeed.com.
Twitter: @Wolfspeed
LinkedIn: @Wolfspeed
Forward Looking Statements:
This press release contains forward-looking statements by
Wolfspeed involving risks and uncertainties, both known and
unknown, that may cause Wolfspeed’s actual results to differ
materially from those indicated. Actual results may differ
materially due to a number of factors, including risks associated
with Wolfspeed’s expansion plans, including, among other things,
design and construction delays and cost overruns, timing and amount
of government incentives actually received, and delays or other
difficulties in preparing for and ramping production; the risk of
production or supply chain challenges that impact Wolfspeed’s
ability to ship in sufficient quantities to satisfy customer
requirements; the continued pace of the transition to using silicon
carbide devices in electric vehicles and other industrial uses;
Wolfspeed’s ability to develop and design silicon carbide devices
that will continue to improve performance in broad markets; the
risk that Wolfspeed may be unable to manufacture its products with
sufficiently low cost to offer them at competitive prices or with
acceptable margins; the risk that demand for silicon carbide will
not grow as Wolfspeed expects; the rapid development of new
technology and competing products that may impair demand or render
Wolfspeed’s products obsolete; and other factors discussed in
Wolfspeed’s filings with the Securities and Exchange Commission,
including its report on Form 10-K for the year ended June 26, 2022,
and subsequent filings. For additional product and company
information, please refer to www.wolfspeed.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230705651768/en/
Media Contacts: Renesas Electronics Corporation Isamu
Yamada +81 3-6773-3001 pr@renesas.com
Wolfspeed, Inc. Melinda Walker +1 818-261-4585
media@wolfspeed.com
Investor Relations Contacts: Renesas Electronics
Corporation Yuuki Oka +81 3-6773-3002 ir@renesas.com
Wolfspeed, Inc. Tyler Gronbach +1 919-407-4820
investorrelations@wolfspeed.com
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