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Bids Received for Belgian Power Facility, BelGan Reports

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August 25, 2024

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BelGaN, a semiconductor company based in Belgium, has recently attracted significant attention after falling into bankruptcy last month. The company's gallium nitride (GaN) fab has received multiple bids from interested parties, signaling a potential new chapter for the struggling firm.

One of the notable bidders is a Swedish-Finnish consortium operating under the name 7 Semiconductors Oy, with its headquarters located in Helsinki. The consortium's bid, amounting to approximately SEK1.5bn (€130m), reflects a strategic move to establish a stronger presence in the semiconductor industry and potentially lead Sweden back to the forefront of technological innovation.

Gerard de Bourbon, representing venture capital company Spirit Ventures, expressed optimism about the bid, stating, "We have been working tirelessly for almost three years to position Sweden as a leader in the semiconductor sector. While our initial plan was to construct a semiconductor factory domestically, the opportunity to collaborate with Belgium emerged as a promising alternative."

Meanwhile, the previous owners of the GaN fab have also shown interest in reclaiming ownership of the 6in and 8in fabs. Belgian entrepreneur Guido Dumarey has emerged as another potential buyer, although specific details regarding the bids and offers remain undisclosed at this time.

The history of the GaN fab traces back to its establishment as MIETEC in 1983, followed by acquisitions by Alcatel and AMI before being acquired by onsemi in 2008. The facility transitioned to GaN development in 2009 under onsemi's ownership. In 2022, as part of its restructuring efforts, onsemi spun out the GaN fab to BelGaN, positioning it as a specialized GaN foundry with backing from Chinese investors.

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