The U.S. Commerce Department announced plans to provide up to $389 million in R&D funding to four companies to support power semiconductor devices and critical materials technology R&D. Helion would receive up to $175 million, CFS up to $85 million, Vertical Semiconductor up to $73 million, and Sibelco North America up to $56 million. The funding comes from the $10 billion semiconductor R&D program approved in 2022, and the government will take minority equity stakes in the companies.