STMicroelectronics-Cree
SiC wafer supply contract size
Extension of expansion to over $500 million


STMicroelectronics and Cree announced on the 10th that they have extended their existing long-term silicon carbide (SiC) wafer supply agreement, worth more than $500 million. Cree has been supplying 150nm SiC bare and epitaxial wafers to ST.

“This expanded agreement with Cree will enable ST to address the growing demand for SiC-based products in the automotive and industrial markets,” said Jean-Marc Chery, STMicroelectronics Chairman and CEO.

“SiC is enabling performance enhancements to a wide range of next-generation industrial solutions for electric vehicles, solar, energy storage systems, and uninterruptible power supplies,” said Gregg Lowe, CEO of Cree. “This expanded agreement with ST will enable Cree to grow the market for SiC-based products.”

Indeed, the adoption of SiC-based power solutions is rapidly growing across the automotive market. As environmental regulations are strengthened in each country, the automobile industry is trying to shift its main vehicle models to electric vehicles.

In the industrial market, SiC modules are also opening up new clean energy applications by enabling small, lightweight, and cost-effective inverters.