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SkyWater President and CEO Thomas Sonderman Congratulates Indiana Members of Congress
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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.
Positive
Passage of the CHIPS and Science Act of 2022 could enhance U.S. semiconductor manufacturing and private investment.
Aims to reverse the semiconductor production decline, improving national security.
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None.
The passage of the CHIPS and Science Act of 2022 is a bold step necessary to regain U.S. manufacturing leadership.
WEST LAFAYETTE, Ind.--(BUSINESS WIRE)--
SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, today thanked Congress for passing the CHIPS and Science Act of 2022. The landmark legislation puts the U.S. on more equal footing with Europe and Asia in rebuilding a deteriorating domestic manufacturing environment that saw America’s global share of semiconductor production drop from over 30% to less than 12%.
“The bold, historic votes taken in the Senate and House by Senator Young and Representatives Baird, Mrvan, Carson and Hollingsworth will be remembered for reigniting the private investments and public-private partnerships to solidify America’s leadership in research and development while reversing the trend of our shrinking, domestic manufacturing production,” said Thomas Sonderman, president & CEO of SkyWater Technology. “Great nations build things and these members of Congress representing Indiana joined colleagues from around the U.S. in recognizing that America needs to do more to compete in a global economy to bolster our national security and advance the foundational technologies upon which American innovators rely.”
About SkyWater Technology
SkyWater (NASDAQ: SKYT) is a U.S. investor-owned semiconductor manufacturer and a DMEA-accredited Category 1A Trusted Foundry. SkyWater’s Technology as a ServiceSM 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.
What is the significance of the CHIPS and Science Act of 2022 for SkyWater Technology?
The CHIPS and Science Act aims to boost U.S. semiconductor manufacturing, which benefits SkyWater by potentially increasing private investments and strengthening the domestic supply chain.
How has U.S. semiconductor production changed recently according to SkyWater Technology?
SkyWater notes that U.S. semiconductor production has dropped from over 30% to less than 12% of global output.
What role does SkyWater Technology play in the semiconductor industry?
SkyWater Technology is a semiconductor manufacturer that supports various industries through its Technology as a Service model.
Who are the key figures mentioned in the SkyWater Technology press release?
Key figures include Senator Young and Representatives Baird, Mrvan, Carson, and Hollingsworth, who supported the CHIPS Act.
