(NIST: Gaithersburg, MD) -- The U.S. Department of Commerce has made its first award under the CHIPS Incentives Program’s Funding Opportunity for Commercial Fabrication Facilities of up to $123 million in direct funding to Polar Semiconductor (Polar). The award follows the previously signed preliminary memorandum of terms and the completion of Commerce’s due diligence. The award will expand and modernize the company’s manufacturing facility in Bloomington, Minnesota. Commerce will distribute the funds based on Polar’s completion of project milestones.

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