The US Department of Commerce has signed a definitive agreement to invest $250 million in I-Pulse, a privately held company that specializes in high pulsed-power systems. The funding comes through the CHIPS and Science Act and is specifically targeted at research and development for high-temperature, high-performance semiconductors.
From weapons labs to wafer fabs
I-Pulse was co-founded in 2007 by Robert Friedland and Laurent Frescaline. The company is based in Albuquerque, New Mexico, which is fitting given that its pulsed-power technology traces its origins to research conducted at Sandia National Laboratories, one of the US government’s premier defense research facilities.
Until now, I-Pulse has primarily applied this technology to mining, geothermal drilling, and mineral exploration. The CHIPS Act funding essentially bankrolls the company’s expansion into semiconductor development, where those same precise energy discharges could prove useful in manufacturing next-generation chips that operate at higher temperatures and performance levels than current designs.
The company had already raised over $324 million in previous funding rounds, including investments from Ivanhoe Mines. So this $250 million federal infusion nearly doubles its total capital base.
