Onsemi’s Belgian GaN Spinout Declares Bankruptcy

BelGaN, the GaN spinout from onsemi in Belgium, has filed for bankruptcy, marking a significant turn of events for the company that was established with high hopes for success.

BelGaN, located in Oudenaarde, was spun out of onsemi in 2022 as a GaN foundry after the parent company failed to secure a buyer for the CMOS power fab. The company made headlines when it introduced its first 650V enhanced eGaN technology in June 2023, positioning itself as an automotive power chip foundry with ambitious plans to produce depletion mode GaN devices.

"To fund the significant investments associated with the transition process, additional investments were sought after the initial investment by the shareholders," the company stated, shedding light on the financial challenges it faced during its operations.

The Belgian wafer fab, previously known for its automotive qualifications, had a workforce of 440 employees. Despite the bankruptcy filing, the management expressed their willingness to collaborate with potential investors to potentially revive the site and its operations.

BelGaN was established on September 30, 2021, through a joint venture between Rockley Management (HK) Ltd. and Wuxi Group Ltd., both based in Hong Kong. Rockley Group, a venture capital and advisory firm with offices in Oxford, England, and Shanghai, China, played a key role in the formation of BelGaN. The acquisition of the fab and its intellectual property was valued at $13.6 million. At the time of its inception, Belgian chip companies Melexis and X-Fab were rumored to be potential buyers of the fab.