Polar Semiconductor LLC
Large load · 2800 E OLD SHAKOPEE RD, Bloomington, MN
Polar Semiconductor operates a 200mm (8-inch) wafer fab in Bloomington, Minnesota, making power, sensor and high-voltage semiconductors. The company describes itself as a US-owned merchant foundry after a $175 million equity financing led by Niobrara Capital and Prysm Capital. Its 2024 expansion plan calls for roughly doubling 200mm output, and in April 2025 it licensed Renesas's GaN-on-Si technology for production at the Minnesota facility. Xcel Energy is the electric utility for Bloomington accounts.
Overview
Polar plans about $525 million of investment at its Bloomington plant over roughly two years. The company says the investment will expand and modernize its existing facility with new automation and AI capabilities and double its current U.S. production capacity of 200mm semiconductor wafers, increasing production from approximately 20,000 wafers per month to nearly 40,000 wafers per month. The project is expected to create 160 jobs. Polar's President and COO, Surya Iyer, said the expanded facility will let the company increase capacity and branch into new technologies for new customers and markets.
Profile
- Ownership and funding
- Niobrara Capital and Prysm Capital are leading a $175 million equity investment that would convert Polar into a U.S.-owned merchant foundry. The Department of Commerce has a non-binding preliminary memorandum of terms with Polar for $120 million in proposed direct CHIPS and Science Act funding, and the State of Minnesota is contributing $75 million. Polar plans to claim the Treasury's Investment Tax Credit, which is expected to be up to 25% of qualified capital expenditures. The 2024 announcement described the federal and state amounts as proposed rather than final.
- Renesas GaN-on-Si agreement
- In April 2025 Polar signed an agreement with Renesas to license Renesas's Gallium Nitride on Silicon D-Mode technology. Under the deal Polar will fabricate 650V-class GaN-on-Si devices for Renesas and other customers at its 200mm facility in Minnesota. The company says that facility was recently expanded with new processing and automation equipment. The two companies plan to scale commercial GaN production for automotive, data center, consumer, industrial, and aerospace and defense markets.
Facility
- Activity
- Power and sensor semiconductor wafers
- Industry
- Manufacturing
- Site type
- Facility
- Operating status
- Operating
Permits and agreements
- Agreement
- Non-binding preliminary CHIPS memorandum for $120 million and a $75 million Minnesota investment
Related records
Timeline
- May 16, 2024
- Polar announces a $525 million expansion of its Bloomington facility, expected to create 160 jobs.
Polar Semiconductor Expands Bloomington, Minnesota, Manufacturing Operations - Area Development
- Apr 23, 2025
- Polar signs an agreement with Renesas to license GaN-on-Si technology and fabricate 650V devices at its Minnesota facility.
Polar to onshore fabrication of advanced devices on 200mm wafers