Apple Awards an Additional $410 Million from its Advanced Manufacturing Fund to II-VI

Rhea-AI Summary

Apple announced a new $410 million award from its Advanced Manufacturing Fund to II-VI, enhancing their partnership established in 2017. This funding aims to increase the production of optical technology for iPhone components, creating 700 jobs across multiple states including Texas and New Jersey. II-VI will manufacture lasers used in Apple products like Face ID and LiDAR Scanner. Apple's initiative contributes to its broader plan to invest $430 billion and create 20,000 jobs in the U.S. over the next five years, supporting American job creation and renewable energy adoption.

Positive

• New $410 million award to II-VI supports optical technology manufacturing.
• Creation of 700 jobs across four states.
• Continued investment in U.S. manufacturing aligns with Apple's $430 billion investment plan.

Negative

• None.

Apple^® today announced a new $410 million award from its Advanced Manufacturing Fund for II-VI, a leading manufacturer of optical technology. Today's award builds on an initial $390 million awarded from Apple’s Advanced Manufacturing Fund in 2017. The expansion of the company’s long-standing relationship will create additional capacity and accelerate delivery of future components for iPhone^®, with 700 jobs in Sherman, Texas; Warren, New Jersey; Easton, Pennsylvania; and Champaign, Illinois.

II-VI manufactures vertical-cavity surface-emitting lasers (VCSELs) that help power Face ID^®, Memoji™, Animoji^®, and Portrait mode selfies. Apple also works with II-VI to manufacture lasers used in the LiDAR Scanner — technology that helps deliver faster, more realistic augmented reality experiences and improves autofocus in low-light scenes in photos and videos.

Apple began working with II-VI in Sherman, Texas, in 2017 as part of the company’s Advanced Manufacturing Fund, which helped transform a long-shuttered, 700,000-square-foot building into a high-tech manufacturing facility and created hundreds of local jobs. Through close collaboration with Apple engineering and operations teams, the company has rapidly increased production in the past year to enable record shipments from the Sherman facility.

“We established Apple’s Advanced Manufacturing Fund to support American businesses creating next-generation technology and the jobs of tomorrow,” said Jeff Williams, Apple’s chief operating officer. “II-VI shares our commitment to push the boundaries of innovation and we’re proud to be extending our work together across the country.”

“The partnership between Apple and II-VI sets the stage for a new wave of breakthrough technologies that we believe will enable a wide range of applications that will benefit our world for decades to come,” said Dr. Vincent Mattera Jr., II-VI’s CEO. “We are incredibly grateful for Apple’s support which has allowed us to expand our manufacturing capacity and scale our operations across the US.”

II-VI is a part of Apple’s Clean Energy Program, which was designed to advance the use of renewable energy across the company’s supply chain, and is already using 100 percent renewable energy across all of its Apple manufacturing in the US.

Apple’s expanded partnership with II-VI is part of the company’s plans to invest $430 billion and add 20,000 new jobs across the US over the next five years. Apple’s contributions include working with more than 9,000 suppliers across the country who are supporting American job creation across dozens of sectors, including silicon engineering, 5G, and manufacturing.

To support world-class innovation and high-skilled manufacturing jobs across the US, Apple established its Advanced Manufacturing Fund in 2017. The $5 billion fund has supported a number of projects to date, including $450 million in awards to Corning Incorporated in Harrodsburg, Kentucky, which led to the creation of Ceramic Shield™, a new material that’s tougher than any other smartphone glass.

Apple supports 2.7 million jobs across all 50 states through direct employment, spending with US suppliers and manufacturers, and the iOS app economy.

This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include without limitation those about Apple’s plans for future investments and expansion. These statements involve risks and uncertainties, and actual results may differ. More information regarding potential risks and other factors that could affect Apple’s financial results is included in Apple’s filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Apple’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. Apple assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch, and Apple TV. Apple’s five software platforms — iOS, iPadOS, macOS, watchOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, and iCloud. Apple’s more than 100,000 employees are dedicated to making the best products on earth, and to leaving the world better than we found it.

NOTE TO EDITORS: For additional information visit Apple Newsroom (www.apple.com/newsroom), or call Apple’s Media Helpline at (408) 974-2042.

© 2021 Apple Inc. All rights reserved. Apple, iPhone, Face ID, Memoji, Animoji, Ceramic Shield, and the Apple logo are trademarks of Apple. Other company and product names may be trademarks of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210505005389/en/

FAQ

What recent award did Apple announce for II-VI?

Apple announced a $410 million award from its Advanced Manufacturing Fund for II-VI.

How many jobs will the new Apple and II-VI partnership create?

The partnership will create 700 jobs across several states.

What technology will II-VI manufacture for Apple?

II-VI will manufacture lasers used in Face ID, Memoji, and LiDAR Scanner technology.

What is Apple's investment plan over the next five years?

Apple plans to invest $430 billion and create 20,000 new jobs across the U.S.

When did Apple start working with II-VI?

Apple began its partnership with II-VI in 2017.