Entegris (NASDAQ:ENTG) has signed a non-binding preliminary memorandum of terms with the U.S. Department of Commerce to receive up to $75M in direct funding under the CHIPS and Science Act.
This proposed CHIPS funding would support the development of Entegris (ENTG) state-of-the-art facility in Colorado Springs designed to create products critical to the future of semiconductor manufacturing in the U.S.
Expected to begin initial commercial operations in 2025, the facility will support the company’s Advanced Materials Handling and Microcontamination Control divisions, and boost production capabilities for Front-Opening-Unified Pods (FOUPs) as well as advanced liquid filtration and purification products.
It will be built in multiple phases: the first to support production of FOUPs – which are currently entirely produced abroad – and liquid filter membranes. The second phase will support the production of advanced liquid filters, purifiers, and fluid handling solutions.
The project will also help generate nearly 600 new jobs in Colorado Springs over the next several years.
To-date, CHIPS for America has announced up to $29.5B in proposed funding across eleven preliminary memorandum of terms to boost America’s semiconductor industry.