SkyWater Technology, Inc. - SKYT STOCK NEWS

SkyWater Technology (NASDAQ: SKYT) has become a founding member of the Semiconductor Climate Consortium (SCC), which aims to reduce greenhouse gas emissions across the semiconductor industry. The SCC focuses on collaboration, transparency, and ambition—setting targets for net-zero emissions by 2050. This commitment aligns with the CHIPS for America Program and highlights SkyWater's dedication to sustainability and ESG initiatives.

SkyWater Technology (NASDAQ: SKYT) will disclose its third-quarter fiscal 2022 financial results on November 7, 2022, after market close, following which a management webcast is scheduled for 3:30 p.m. CST. This session will cover the company's financial performance. SkyWater specializes in semiconductor manufacturing and offers a Technology as a Service model, enabling customers in diverse markets like aerospace, automotive, and IoT to accelerate technology development. For the latest information, visit www.skywatertechnology.com.

SkyWater Technology (NASDAQ: SKYT) has announced a $12 million investment from the Department of Defense (DOD) to advance its 90 nm radiation-hardened (rad-hard) technology. This funding follows a previously announced investment of $27 million. The collaboration aims to enhance onshore production capabilities for strategic rad-hard electronics while developing an Early Access Program (EAP) for customers to evaluate improvements in circuit density, speed, power, and performance. SkyWater has partnered with Trusted Semiconductor Solutions and CAES to ensure successful qualification and productization of its RH90 process.

SkyWater Technology (NASDAQ: SKYT) hosted Congresswoman Betty McCollum and Under Secretary of Defense Heidi Shyu for a facility tour in Minnesota on October 7th. The meeting focused on the U.S. semiconductor industrial base and the impact of the CHIPS Act on microelectronics investments. SkyWater discussed its Department of Defense partnerships and the successful completion of a prototype project, which led to an additional $99M funding for productization. The company aims to enhance its rad-hard technology roadmap and support U.S. manufacturing with a unique Technology as a Service model.

SkyWater Technology (NASDAQ: SKYT) hosted an executive roundtable at Purdue University to discuss strategic partnerships that enhance domestic semiconductor R&D and manufacturing following the CHIPS Act. Industry leaders convened during 2022 Semiconductor Week to explore how these collaborations can strengthen supply chains and national security. SkyWater is advancing a $1.8 billion semiconductor fabrication facility in Indiana, aimed at workforce development and innovation. The company aims to create a comprehensive semiconductor ecosystem to boost U.S. competitiveness in the industry.

SkyWater Technology (NASDAQ: SKYT) has received a $99 million award from the Department of Defense to enhance onshore production capabilities for radiation-hardened electronics. This follows the successful completion of the RH90 prototype project, part of a larger $170 million investment initiative. The award supports the transition to productization and qualification of the technology, expected by the end of 2024. SkyWater aims to establish a comprehensive ecosystem around its RH90 process, including IP design libraries and rigorous testing for reliability and radiation resistance.

SkyWater Technology (NASDAQ: SKYT) has appointed Brian Lenihan as vice president of government relations to enhance its strategic initiatives supporting the CHIPS Act. The company will manufacture chips for academic and small business researchers under a cooperative agreement with the U.S. Department of Commerce and Google, allowing open-source access to circuit designs. Lenihan's extensive experience in public policy aims to strengthen SkyWater’s position as the only U.S.-owned pure-play foundry, essential for innovation and workforce development.

SkyWater Technology (NASDAQ: SKYT) announced the appointment of Todd Pedersen as Vice President of Corporate Development, focusing on Indiana operations. During a recent keynote, CEO Thomas Sonderman discussed plans for a $1.8 billion semiconductor manufacturing facility at Purdue University. The session aimed to educate students on semiconductor career opportunities, supported by U.S. government officials discussing CHIPS Act funding. Pedersen's expertise aims to bolster local project development efforts for SkyWater.

SkyWater Technology has been awarded $50.8M as part of the U.S. Economic Development Administration’s Build Back Better Regional Challenge to develop a semiconductor cluster in Central Florida. The funding will enhance SkyWater’s advanced packaging operations and support other projects in Osceola County. This initiative aims to address the microchip shortage, create high-paying jobs, and strengthen the local economy. SkyWater will contribute a 20% matching share for the project, which is part of a larger effort to boost domestic semiconductor manufacturing.