A proposed semiconductor plant in Covington is set to receive $75 million in federal funding.
On Thursday, May 23, the Biden-Harris administration announced that Absolics Inc., an affiliate of the South Korea-based SKC, and the U.S. Department of Commerce have agreed to a non-binding preliminary memorandum of terms (PMT) that will provide up to $75 million in federal funding.
SKC Co., a South Korean manufacturer of secondary battery parts and advanced materials, said Monday it is acquiring a stake in a US semiconductor packaging startup as it accelerates the drive for chip post-processing. The investment in Chipletz, an Austin-based fabless company, will give SKC an approximately 12 percent stake in the US firm through a Series B funding, the Seoul-based company said in a release. SKC did.
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