Wolfspeed, Infineon expand SiC wafer supply agreement

Infineon Technologies AG (IFNNY) and Wolfspeed (WOLF) announced the expansion and extension of their existing long-term 150mm silicon carbide wafer supply agreement, originally signed in February 2018. The extended partnership includes a multi-year capacity reservation agreement. It contributes to Infineon’s general supply chain stability, also with regard to the growing demand for silicon carbide semiconductor products for automotive, solar and EV applications and energy storage systems. Wolfspeed president and CEO Gregg Lowe noted: “Industry estimates indicate demand for silicon carbide devices, as well as the supporting material, will grow substantially through 2030, representing a $20 billion annual opportunity. We are very pleased to continue our partnership with Infineon and to serve as a major supplier of silicon carbide wafers in the years ahead.”