Wolfspeed, Inc. hosted Senator Thom Tillis (R-NC) and other local officials, community partners, and employees at a ceremony to celebrate the topping out of construction at the $5 billion John Palmour Manufacturing Center for Silicon Carbide. Located in Chatham County, North Carolina, the JP will produce 200mm silicon carbide wafers, significantly expanding Wolfspeed's materials capacity, and meet the demand for next generation semiconductors critical to the energy transition and AI. The JP represents a total investment of $5 billion, complemented by public and private support, to help accelerate the transition from silicon to silicon carbide and ramp up supply of this material recently deemed as critical to the energy transition by the U.S. Department of Energy.

By the end of 2024, phase one of construction is expected to be completed on the 445-acre site. The ramp of the JP will support recently signed customer agreements with Renesas, Infineon, and additional companies, while driving meaningful progress towards Wolfspeed's long-term growth strategy. The JP will primarily produce 200mm silicon carbide Wafers, which are 1.7x larger than 150mm wafers, translating to more efficient wafers and ultimately, lower costs.

The JP underpins Wolfspeed's vision of accelerating the adoption of silicon carbide semiconductors across a wide array of end-markets and unlocking a new era of energy efficiency. Wolfspeed currently produces more than 60% of the world's silicon carbide materials at its Durham, N.C. headquarters, and is engaged in a $6.5 billion capacity expansion effort to dramatically increase production.