New name, strategy for Wolfspeed
MARCY – What’s in a name? A lot, according to the CEO of the company formerly known as Cree, which is currently building a semiconductor manufacturing plant in Marcy. The company has officially changed its name to Wolfspeed, according to a statement, and the change is symbolic of a massive rebranding and repositioning that company officials are excited about for the future.
“After a massive four-year transformation, involving the divestiture of two-thirds of the business and a repositioning of the company’s overall strategy, today marks the creation of Wolfspeed, Inc. (NYSE: WOLF), the industry leader. global silicon carbide technology and production, ”a statement noted.
Wolfspeed has served as the brand for the Silicon Carbide Materials and Semiconductor Devices business unit for the past six years.
The move, “… officially marks a transformational milestone for Wolfspeed as we are now a pure-play global semiconductor powerhouse,” Gregg Lowe, CEO of Wolfspeed, said in a statement. “The next generation of power semiconductors will be driven by silicon carbide technology, with superior performance that unlocks new possibilities and positive changes in our way of life. As the original champion of this technology, we couldn’t be more excited for what lies ahead. “
The company’s new, billion-dollar facility is the keystone of the Marcy Nanocenter on SUNY Polytechnic Institute’s entirely new 434-acre campus, developed for semiconductor and advanced technology manufacturing facilities. Wolfspeed’s Marcy plant is touted as an automotive qualified 200mm wafer power plant and will be the largest silicon carbide plant in the world. Industry experts say site will be critical in supplying next wave of electric vehicles (EVs), 4G / 5G and industrial mobile markets as Cree / Wolfspeed drives industry transition from silicon to silicon carbide .
Construction is on schedule for production to start in early 2022.
Wolfspeed has already hired nearly 200 people and is committed to creating more than 600 new direct jobs over the next eight years, officials said, adding that a recent analysis by the US Semiconductor Industry Association estimates that every direct job in the semiconductor industry allows 4.89 jobs in other sectors of the economy.
This new manufacturing facility, located adjacent to SUNY Poly’s Utica campus, will open the door to groundbreaking research and future recruitment opportunities for students in some of the world’s most promising and high-growth technology sectors, added responsible.