SkyWater Technology, Inc. - SKYT STOCK NEWS

NanoDx, in collaboration with SkyWater Technology (NASDAQ: SKYT), has achieved a significant milestone by developing the first commercially ready nano biosensor for traumatic brain injury diagnostics. This breakthrough allows real-time detection of biomarkers and paves the way for FDA review and commercialization. The nanosensor's unique design, leveraging IBM Research's CMOS technology, enhances sensitivity and specificity in point-of-care testing. NanoDx plans to expand its applications beyond traumatic brain injury to address various unmet medical needs.

SkyWater Technology (NASDAQ: SKYT) has announced its participation in two key investor conferences in Q3. The events include the 3rd Annual Needham Virtual Semiconductor and SemiCap 1x1 Conference on August 24, 2022, and the Jefferies Semiconductor, IT Hardware & Communications Infrastructure Summit in Chicago, IL from August 30-31, 2022. Presentation materials will be available on the company's investor page. SkyWater is a U.S.-based semiconductor manufacturer, recognized as a Category 1A Trusted Foundry, offering various technology services.

SkyWater Technology (NASDAQ: SKYT) announced a net revenue of $47.4 million for Q2 2022, up 15% year-over-year, driven by growth in Advanced Technology Services (ATS) and wafer services. Despite a net loss of $13.0 million, or 27% of revenue, the company noted improvements in gross margins and significant customer engagement. ATS revenue rose 20%, while wafer services increased 23%. Recent partnerships and government support bolster growth prospects, with a target revenue increase of 25% for the year.

SkyWater Technology, represented by CEO Thomas Sonderman, attended a White House ceremony where President Biden signed the CHIPS and Science Act of 2022. This legislation aims to reverse the decline in U.S. chip manufacturing and secure domestic semiconductor sources. SkyWater plans to seek $1.8 billion in CHIPS funding for a new semiconductor facility in Indiana, building a public-private partnership with the state and Purdue University. The company is focused on reshoring semiconductor production and supporting national security.

SkyWater Technology (NASDAQ: SKYT) joins the American Semiconductor Innovation Coalition (ASIC) to advance the National Semiconductor Technology Center (NSTC) and the National Advanced Packaging Manufacturing Program (NAPMP) under the CHIPS+ Act. The NSTC aims to enhance R&D in semiconductor manufacturing while bridging public-private gaps. SkyWater plans a $1.8 billion facility in Indiana to boost domestic semiconductor production and support innovation and workforce development.

SkyWater Technology applauded the passage of the CHIPS and Science Act of 2022, aiming to restore U.S. semiconductor manufacturing, which has plummeted from over 30% to below 12% of global production.

The legislation is expected to boost public-private partnerships and private investments, ensuring the U.S. remains competitive in the tech sector and enhancing national security.

SkyWater, a DMEA-accredited semiconductor manufacturer, provides a variety of technology services, supporting crucial markets like aerospace, automotive, and IoT.

SkyWater Technology expresses gratitude to Congress for passing the CHIPS and Science Act of 2022, which aims to enhance U.S. semiconductor manufacturing capabilities. This legislation is seen as a crucial step in reversing a decline where U.S. global semiconductor production share has fallen from over 30% to less than 12%. Thomas Sonderman, President & CEO, highlights the act's role in stimulating private investments and public-private partnerships to strengthen America's leadership in R&D and manufacturing.

SkyWater Technology (NASDAQ: SKYT) has praised the passage of the CHIPS and Science Act of 2022, emphasizing its potential to restore U.S. semiconductor manufacturing, which has declined from over 30% to under 12% of global production.

The company believes this legislation will spur private investments and public-private partnerships, fostering leadership in R&D and enhancing national security.

SkyWater is dedicated to innovative semiconductor manufacturing, providing essential services across various markets.

SkyWater Technology (NASDAQ: SKYT) has secured a $15 million funding from the Department of Defense (DOD) to enhance its 90 nm process offering through open source design. This initiative is part of a broader $27 million investment. The collaboration with Google aims to democratize chip design and manufacturing, leveraging open source to accelerate innovation and enable a pipeline for intellectual property creation. This partnership is expected to improve accessibility and lower costs in chip design for various sectors, including national defense.