Cree signs $85M SiC Wafer agreement
Cree has signed a strategic long-term agreement to produce and supply its Wolfspeed SiC wafers to one of the world's leading power device companies. The agreement, valued at more than $85 million, governs Cree's supply of advanced 150 mm SiC bare and epitaxial wafers during this period of extraordinary growth and demand for SiC power devices.
"Cree is committed to increasing and accelerating the adoption of SiC-based solutions throughout the semiconductor industry. This customer's importance to the power device industry is well known, so partnering with a leading power semiconductor company such as this is another big step in that commitment," said Gregg Lowe, CEO of Cree. "We are extremely pleased to help drive adoption of SiC in even more applications. As the world leader in SiC, Cree is continuing to expand capacity to meet market demands with our industry-leading wafer technology to help achieve a new, more efficient future."
Wolfspeed,aCree Company, is a leading manufacture of SiC wafers and epitaxial wafers. The supply agreement, to be fulfilled through a Cree distributor, enables SiC applications in broad markets such as renewable energy and storage, electric vehicles, charging infrastructure, industrial power supplies, traction and variable speed drives.