SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner and only U.S. investor-owned, pure-play foundry, today applauded the U.S. Senate on its overwhelming bipartisan passage of the U.S. Innovation and Competition Act. The developing piece of legislation is expected to provide $52 billion to fund semiconductor research, design, and manufacturing initiatives. Additionally, the Biden Administration’s intense, thorough 100-day review studying supply chain challenges in critical industries, including semiconductors, has resulted in a comprehensive report identifying gaps and suggested solutions from across industries on how best to address this challenge.

“The unprecedented efforts by the President and the Senate to create solutions for re-shoring semiconductor manufacturing infrastructure will strengthen critical sectors of the U.S. economy,” said Thomas Sonderman, president and CEO of SkyWater.

Last week, SkyWater hosted Senator Amy Klobuchar and Representative Dean Phillips at its Minnesota facility to discuss challenges and opportunities for increasing domestic capabilities for microelectronics manufacturing. Their discussion focused on identifying opportunities for easing supply chain constraints through various means that would have both short- and long-term impact for supporting efforts to increase domestic semiconductor output in key markets such as automotive, medical and defense.

Sonderman continued, “The production of semiconductors in the U.S. has been declining for decades. It’s time for a market recalibration. We need to immediately begin re-shoring American semiconductor manufacturing. SkyWater is ready to do our part once the House passes, and President Biden signs, the U.S. Innovation and Competition Act.”

About SkyWater Technology

SkyWater (NASDAQ: SKYT) is a U.S.-owned and U.S.-based pure-play semiconductor foundry and is a DOD-accredited Trusted supplier, specializing in custom technology development services, volume manufacturing and advanced packaging capabilities. Through its Technology Foundry model, SkyWater’s world-class operations in Bloomington, Minnesota and Kissimmee, Florida provide unique processing capabilities to enable quality production and advanced packaging for mixed-signal CMOS, power, rad-hard and ROIC solutions. SkyWater’s Advanced Technology Services empower development of superconducting and 3D ICs, along with carbon nanotube, photonic and MEMS devices. The company serves customers in growing markets such as aerospace & defense, automotive, biomedical, cloud & computing, consumer, industrial and IoT. Please visit www.skywatertechnology.com/ for more information.

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