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Polar Semiconductor to receive up to $123M in Chips Act funding

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Polar Semiconductor has been selected to receive up to $123 million in Chips Act funding.

The money is set to be used for the company to expand and modernize its facility in Bloomington, Minnesota.

Commerce Department officials said the funding would help Polar nearly double its U.S. production capacity within two years.

Read more from Quartz.

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