Coherent signs PMT with U.S. Department of Commerce under CHIPS act

On Friday, December 5, 2024, it was announced that Coherent (COHR) has signed a non-binding preliminary memorandum of terms, PMT, with the U.S. Department of Commerce under the CHIPS and Science Act for a proposed investment of up to $33 million to support the modernization and expansion of a state-of-the-art manufacturing cleanroom in Coherent’s existing 700,000 square-foot facility in Sherman, Texas. This project will expand the world’s first 150 mm indium phosphide manufacturing line by adding advanced wafer fabrication equipment to produce InP devices at scale. “This proposed investment allows Coherent to accelerate our industry leadership in InP technology and manufacturing,” said Dr. Giovanni Barbarossa, Chief Strategy Officer and President, Materials Segment, for Coherent.