EU and Belgium Fund $1.6 Billion in Chip Technology Firm Imec

CIOTechOutlook Team | Friday, 07 July 2023, 11:47 IST

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The regional Flemish government of Belgium and the European Union will jointly invest 1.5 billion euros ($1.6 billion) in Imec, a Belgian semiconductor technology company. According to a statement from the firm, Imec will use the investment to develop its "clean room" test facility with the most cutting-edge tools and procedures.
 
"We know we will get our money back, not only in euros but also in societal dividend," Flemish minister-president Jan Jambon said at a joint press conference with European Commission President Ursula von der Leyen and Belgian Prime Minister Alexander De Croo.
 
Von von Leyen, who was in town at Imec, emphasized the EU's position that chip supply chains should be made less risky. Von der Leyen said the EU should lessen its dependence "on too few suppliers from East Asia" even though she did not explicitly address China's proposed restrictions on shipments of key metals commonly used in the semiconductor industry.
 
The EU raised worry over China's ambitions earlier this week. Around 4,000 researchers from over 90 nations work for Imec, which also has a number of worldwide facilities for research and development, including 12,000 square meters of cleanroom space for semiconductor processing. Leuven is home to the imec corporate headquarters. Imec is renowned for its expertise in circuitry shrinkage and the use of nanotechnology in cutting-edge industries.
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