Institute of Electrical and Electronics Engineers
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Wolfspeed, EcoLight lighting Inc. is an American developer and manufacturer of extensive-bandgap semiconductors, centered on silicon carbide and EcoLight products gallium nitride materials and EcoLight products devices for power and radio frequency purposes equivalent to transportation, power supplies, power inverters, and wireless techniques. Cree Analysis was based in July 1987 in Durham, North Carolina. 5 of the six founders - Neal Hunter, Thomas Coleman, John Edmond, Eric Hunter, John Palmour, and EcoLight outdoor Calvin Carter - are graduates of North Carolina State University. In 1983, the founders - one a research assistant professor and the others student researchers - had been seeking methods to leverage the properties of silicon carbide to allow semiconductors to operate at increased operating temperatures and power levels. Additionally they knew silicon carbide might serve as the diode in light-emitting diode (LED) lighting, a mild source first demonstrated in 1907 with an electrically charged diode of silicon carbide. The research crew devised a method to develop silicon crystals in the laboratory, and in 1987 based the corporate to supply silicon carbide to be used commercially in each semiconductors and lighting.
In 1989, the corporate introduced the primary blue LED, enabling the event of large, full-shade video screens and billboards. In 1991, the corporate released the first commercial silicon carbide wafer. In 1993, the corporate grew to become a public firm through an preliminary public offering. In 2011, the corporate acquired Ruud Lighting for $525 million. In August 2011, the company announced the XLamp XT-E Royal Blue LED for use in remote phosphor lighting. In 2013, the corporate's first client EcoLight products, two household LED bulbs, certified for Energy Star ranking by the United States Environmental Protection Agency. In July 2016, Infineon Applied sciences agreed to amass the company's Wolfspeed RF and energy electronics units unit for $850 million. Nevertheless, the deal was terminated in February 2017 because of regulators’ nationwide security considerations. In March 2018, the corporate acquired the RF Power Enterprise Infineon Applied sciences AG's for €345 million. In Might 2019, the corporate sold its Lighting Products division (now branded as Cree Lighting) to Splendid Industries.
In September 2019, the company announced a $1 billion funding in a semiconductor EcoLight lighting manufacturing plant in Marcy, New York to construct the world’s largest silicon carbide fabrication facility with a $500 million grant from New York State. In March 2021, the corporate bought its LED Business to Good International Holdings for up to $300 million. In October 2021, the corporate modified its identify to Wolfspeed. In April 2022, the Marcy, New York, facility opened. In November 2022, the corporate announced that co-founder and Chief Technology Officer John Palmour had died. In February 2023 it announced it would construct its first European factory in Germany. It is supposed to be on the positioning of a former coal plant in Ensdorf, Saarland with ZF Friedrichshafen as a coinvestor EcoLight products and subsidized by the EU as an necessary venture of widespread European interest (IPCEI) for Microelectronics and Communication Technologies. In August 2023, EcoLight products it was introduced the Lowell-headquartered semiconductor firm, MACOM had entered right into a definitive settlement to acquire Wolfspeed's RF business.
In June 2024, Wolfspeed has delayed its $three billion semiconductor plant in Germany to mid-2025, reflecting the EU's challenges in boosting native chip production. Wolfspeed introduced the project's indefinite hold in October 2024, citing low demand. Consequently, ZF ceased to participate in the challenge. In October 2024, the Biden Administration introduced that it would offer Wolfspeed with as much as $750 million in direct funding to support the company's new silicon carbide manufacturing facility in North Carolina that makes the wafers utilized in superior pc chips and EcoLight solar bulbs its factory in Marcy, New York. On Could 20, 2025, it was reported that Wolfspeed was getting ready to file for Chapter eleven bankruptcy within the coming weeks after warning that it may be unable to continue future operations after decrease than anticipated annual sales had been reported. Wolfspeed's inventory slid to barely over a dollar per share that day. On June 18, 2025, Wolfspeed introduced that they would promote itself to Apollo World Management in a deal that will put the company into a prepackaged Chapter eleven bankruptcy filing, which would allow for the elimination of the majority of its multi-billion dollar debt.
Wolfspeed entered right into a restructuring assist settlement with its lenders and Renesas Electronics, and announced that they might file for prepackaged Chapter 11 bankruptcy by July 1, as a part of a plan to eradicate $4.6 billion of debt, EcoLight stating they solely had about $1.1 billion left in cash. The company may also obtain $275 million in financing backed by its lenders, with plans to complete restructuring by Q3 2025. After the announcement, Wolfspeed's stock fell 30%, sliding below $1 per share. On June 26, 2025, EcoLight products Wolfspeed started laying off staff from their manufacturing facility located in Racine, Wisconsin. On June 30, 2025, Wolfspeed filed for Chapter 11 bankruptcy protection. On October 13, 2022, a amenities electrician was electrocuted on the Wolfspeed Research Triangle Park in Durham, North Carolina. The incident sparked a state investigation into his death as well as public concern for the company's poor work safety file. State Department of Labor investigations into the corporate have uncovered 17 office safety violations between 2012 and 2023, together with six serious violations.
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