ElevATE Semiconductor and Polar Semiconductor Sign Long-Term Strategic Manufacturing Agreement

SAN DIEGO, October 11, 2024 (Newswire.com) - ElevATE Semiconductor, a leading provider of cutting-edge semiconductors for the semiconductor test and ATE market, and Polar Semiconductor, a U.S. manufacturer of high-performance analog and power semiconductor devices and sensors, have announced a strategic partnership to develop and manufacture ElevATE Products used by world-leading ATE equipment and semiconductor companies.

To meet the demands of current production and future expansion, ElevATE and Polar are collaborating to qualify product manufacturing at Polar’s fab in Bloomington, MN.

For Polar Semiconductor, this partnership provides an opportunity to expand its customer base and foundry footprint within the Automated Test Equipment (ATE) market, which is projected to grow substantially over the next several years.

“This partnership strengthens Polar Semiconductor’s ability to manufacture cutting-edge higher-speed, low-power test semiconductors,” commented Rajesh Appat, Vice President of Business and Technology Development, Polar Semiconductor. “Our primary goal is to work closely with ElevATE Semiconductor to help deliver best-in-class, quality products to the ATE market by applying our 60-plus years of proven expertise in technology and process development.”

“This collaboration marks a major step in ElevATE's production strategy,” said Anil Kodali, Vice President of Operations and Quality Assurance at ElevATE. “By partnering with Polar, we ensure a dependable supply chain, enabling us to meet the growing demands of our customers in terms of volume, quality, and speed. Additionally, Polar's receipt of 123 million USD in CHIPS Act funding further secures its position as a reliable manufacturing partner in the US for long term supply.”

About ElevATE Semiconductor ElevATE Semiconductor is a leader in the global semiconductor manufacturing industry, offering cutting-edge semiconductor test and ATE solutions. The company is committed to supporting the semiconductor and system test community by providing advanced integrated circuits (ICs) that address the complex challenges of ATE. With a focus on designing efficient, high-density solutions, ElevATE Semiconductor aims to reduce the overall cost of testing for its customers, both now and in the future. Visit www.elevatesemi.com.

About Polar Semiconductor Headquartered in Bloomington, Minnesota, Polar Semiconductor is a US owned, US-based foundry with more than 60 years of integrated device manufacturing experience in power management and sensors that serve automotive, consumer, and industrial markets. Through CHIPS & MN state funding, Private Equity investments and under the new ownership, Polar will continue its novel journey to deliver power innovation and high volume manufacturing for its partners and customers. For more information, visit www.polarsemi.com.

Forward-looking Information This news release may contain forward-looking statements, which involve risks and uncertainties. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. ElevATE Semiconductor undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

Media Contacts:

• ElevATE Semiconductor: Tim Bakken, Vice President of Global Sales, [email protected]
• Polar Semiconductor: [email protected] 

Source: ElevATE Semiconductor