Pallidus Terminates Silicon Carbide Project
On October 30, it was reported by the American Herald that New York-based silicon carbide material manufacturer Pallidus has terminated its relocation and new plant construction plans.
On October 30, it was reported by the American Herald that New York-based silicon carbide material manufacturer Pallidus has terminated its relocation and new plant construction plans.
In February 2023, Pallidus reached an agreement with York County to relocate to Rock Hill in exchange for economic incentives, with the factory covering 300,000 square feet. The company had previously planned to invest $443 million (approximately RMB 3.153 billion) to produce silicon carbide powder, substrates, and epitaxy. The relocation was initially set to begin in the third quarter of 2023 but was not executed during that timeframe.
An economic developer from York County cited "market conditions" as one of the reasons for the sudden cancellation of the project.
Pallidus was founded in 2015, initially focusing on the production of pure M-SiC™ silicon carbide powder. In 2018, the company began utilizing its M-SiC™ platform to grow silicon carbide crystals and manufacture 6-inch SiC epitaxy.
In 2021, Pallidus secured millions in private equity investment to expand its facility from pilot scale to full wafer production. By the end of 2022, the company had raised $38 million in funding.
