Coherent signs letter of intent for up to $50 million CHIPS Act funding for Sherman expansion

Coherent signed a letter of intent for up to $50 million in direct CHIPS and Science Act funding from the Department of Commerce to expand its Sherman, Texas indium phosphide plant. The award is not final; the release calls it a proposed award. The expansion would double manufacturing production space and quadruple wafer output, and the company projects more than 1,000 jobs at completion.

• Letter of intent for up to $50 million in direct CHIPS Act funding.
• Award is proposed and not yet final.
• Expansion doubles manufacturing space and quadruples wafer production.
• Builds on about $20 million from Texas and Sherman local programs.