Newport Wafer Fab (NWF)has completed a multi-million pound refinancing deal
The refinancing of the 海角视频’s leading 200mm silicon chip semiconductor processing facility involved a restructure of existing Welsh Government loans and a new asset finance facility from HSBC 海角视频.
The deal includes the early settlement of deferred consideration, the purchase of specialist, back end of line equipment to broaden the foundry’s manufacturing capabilities and a £3m contribution to a new Combined Heat and Power (CHP) plant designed to reduce utility costs by more than £1.5m per annum.
NWF is a component of CS Connected, the world’s first compound semiconductor cluster.
CS Connected, which is supported by investment from the Welsh and 海角视频 governments and the Cardiff Capital Region, brings together compound semiconductor material expertise and large-scale semiconductor wafer scale volume manufacturing, combined with leading academic research to deliver bespoke solutions to its customer using advanced compound semiconductor materials.
Dr Paul James, CEO of NWF, expressed his gratitude to the involved parties for their continuing support that has strengthened the position of NWF and the wider CS Cluster.
NWF provides volume manufacturing services for the cluster and any customers who have developed their own products using silicon and compound on silicon semiconductors.
It is pivotal to a number of significant international projects being scrutinised by world leading companies attracted to the one-stop-shop capability of CS Connected.
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CS Connected is one of 24 shortlisted projects, and the only one based wholly based in Wales, to receive early-stage funding from 海角视频 Research and Innovation’s (海角视频RI) Strength in Places Fund to develop a full-stage business case submission.
The Strength in Places Fund will benefit all regions of the 海角视频 by enabling them to tap into world-class research and innovation capability spread right across the country, leading to significant economic impact, high-value job creation and regional growth.
Minister for Economy and Transport Ken Skates said: “Wales’ semiconductor cluster produces cutting edge technology which contributes to many of the items that are so prevalent in modern everyday life.
“The Welsh Government has invested significantly in establishing Wales as a global centre for advanced compound semiconductor technologies and we were pleased to provide support for Newport Wafer Fab so that they can continue work to attract further commercial investment.
“The cluster and its skilled workforce is hugely important to our economy and with world leading companies and technologies operating and thriving in the region, I look forward to its continued success and growth in the years ahead.”
Andrew Morgan, leader of Rhondda Cynon Taf County Borough Council, and Chair of the Cardiff Capital Region's regional cabinet, added: “The Cardiff Capital Region is committed to creating a complete compound semiconductor eco-system in South-East Wales to take advantage of the growing prominence of compound semiconductor technologies.
“We are supporting the establishment of the world’s first compound semiconductor cluster. In turn, this can place this region at the heart of a sector which is developing technology which is playing an increasingly vital role in the way we live.”