SkyWater Becomes Founding Member of SEMI’s new Semiconductor Climate Consortium (SCC)

Rhea-AI Summary

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.

Positive

• Founding member of the Semiconductor Climate Consortium, showing commitment to sustainability.
• Focus on reduction of greenhouse gas emissions aligns with broader governmental initiatives like the CHIPS for America Program.
• Collaborative effort with other semiconductor companies enhances collective capabilities in sustainability.

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• None.

SCC formed by companies across the semiconductor value chain to accelerate the industry’s reduction of greenhouse gas emissions

BLOOMINGTON, Minn.--(BUSINESS WIRE)-- SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, today announced its commitment as a founding member of SEMI’s new Semiconductor Climate Consortium (SCC), the first global collaborative of semiconductor companies focused on reducing greenhouse gas emissions across the value chain. The three pillars as set forth by the SCC include:

• Collaboration – Align on common approaches, communications channels and technology innovations to continuously reduce greenhouse gas emissions.
• Transparency – Issue annual progress reports on reductions in Scope 1, 2 and 3 greenhouse gas emissions.
• Ambition – Set near- and long-term decarbonization targets with the aim of reaching Net Zero emissions by 2050.

According to Brian Lenihan, SkyWater’s VP of Government Relations, “This initiative aligns well with the Commerce Department’s implementation of the historic CHIPS for America Program with the goal of revitalizing domestic semiconductor research, development and manufacturing while being accountable to the American public. In doing so, the Commerce Department is interested in how the semiconductor industry is thinking about sustainability, climate and the environment. We believe the SCC will be critical in supporting sustainability efforts and results for decades to come.”

Founding members have affirmed their support of the Paris Agreement and its goal to address climate change. Through the SCC, SkyWater will be involved in the development of initiatives that prioritize environmental, social and governance (ESG) criteria.

“The SCC supports our greater sustainability vision – coexistence of technological innovation and climate mindfulness,” said C.J. Bonifas, SkyWater’s VP of quality, EHS and operational excellence. “Semiconductors are critical to our everyday modern lives. We look forward to collaboration with other member companies to co-create best practices for sustainability solutions to further mitigate the industry’s environmental impact.”

“I applaud SkyWater for its commitment to become a founding member of the Semiconductor Climate Consortium (SCC) and for its continued support of global sustainability efforts,” said Ajit Manocha, SEMI president and CEO. “Individually SEMI member companies have made tremendous strides on sustainability, but we need to pool industry resources to solve the difficult decarbonization challenges, and to meet tracking and reporting requirements across the value chain. The SCC members look forward to defining and prioritizing sustainability goals and to harness the collective energy of the global semiconductor supply chain to create solutions.”

About SkyWater Technology

SkyWater (NASDAQ: SKYT) is a U.S.-owned semiconductor manufacturer and a DMEA-accredited Category 1A Trusted Foundry. SkyWater’s Technology as a Service^SM model streamlines the path to production for customers with development services, volume production and heterogeneous integration solutions in its world-class U.S. facilities. This pioneering model enables innovators to co-create the next wave of technology with diverse categories including mixed-signal CMOS, ROICs, rad-hard ICs, power management, MEMS, superconducting ICs, photonics, carbon nanotubes and interposers. SkyWater serves growing markets including aerospace & defense, automotive, biomedical, cloud & computing, consumer, industrial and IoT. For more information, visit: www.skywatertechnology.com.

SkyWater Technology Forward-Looking Statements

This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements that are based on the Company’s current expectations or forecasts of future events, rather than past events and outcomes, and such statements are not guarantees of future performance. Forward-looking statements are subject to risks, uncertainties and assumptions, which may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Key factors that could cause the Company’s actual results to be different than expected or anticipated include, but are not limited to, factors discussed in the “Risk Factors” section of its annual report on Form 10-K and quarterly reports on Form 10-Q, and in other documents that the Company files with the SEC, which are available at http://www.sec.gov. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date of this press release.

SKYT-CORP

View source version on businesswire.com: https://www.businesswire.com/news/home/20221101005507/en/

SkyWater Company Contact: Tara Luther | 952.851.5023 | tara.luther@skywatertechnology.com

SkyWater Media Contact: Lauri Julian | 949.280.5602 | lauri.julian@skywatertechnology.com

Source: SkyWater Technology