Institute of Electrical and Electronics Engineers
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Wolfspeed, Inc. is an American developer and producer of vast-bandgap semiconductors, focused on silicon carbide and gallium nitride supplies and gadgets for power and radio frequency functions equivalent to transportation, power provides, power inverters, and wireless methods. Cree Analysis was founded in July 1987 in Durham, North Carolina. Five of the six founders - Neal Hunter, Thomas Coleman, John Edmond, Eric Hunter, John Palmour, and Calvin Carter - are graduates of North Carolina State College. In 1983, the founders - one a research assistant professor and the others pupil researchers - have been in search of ways to leverage the properties of silicon carbide to allow semiconductors to operate at larger working temperatures and energy ranges. In addition they knew silicon carbide might serve as the diode in light-emitting diode (LED) lighting, a light source first demonstrated in 1907 with an electrically charged diode of silicon carbide. The analysis staff devised a solution to develop silicon crystals within the laboratory, and in 1987 founded the company to produce silicon carbide to be used commercially in each semiconductors and lighting.
In 1989, the corporate introduced the primary blue LED, enabling the development of large, full-colour video screens and billboards. In 1991, the company launched the primary commercial silicon carbide wafer. In 1993, the company grew to become a public company by way of an preliminary public offering. In 2011, the corporate acquired Ruud Lighting for $525 million. In August 2011, the corporate introduced the XLamp XT-E Royal Blue LED for use in distant phosphor lighting. In 2013, the corporate's first consumer products, two household LED bulbs, certified for Energy Star ranking by the United States Environmental Protection Agency. In July 2016, Infineon Applied sciences agreed to accumulate the corporate's Wolfspeed RF and power electronics gadgets unit for $850 million. Nonetheless, EcoLight the deal was terminated in February 2017 on account of regulators’ nationwide safety considerations. In March 2018, the corporate acquired the RF Energy Enterprise Infineon Technologies AG's for €345 million. In Could 2019, the company sold its Lighting Merchandise division (now branded as Cree Lighting) to Ultimate Industries.
In September 2019, the company announced a $1 billion funding in a semiconductor manufacturing plant in Marcy, New York to build the world’s largest silicon carbide fabrication facility with a $500 million grant from New York State. In March 2021, the corporate bought its LED Business to Sensible World Holdings for as much as $300 million. In October 2021, the company modified its name to Wolfspeed. In April 2022, the Marcy, New York, facility opened. In November 2022, the company introduced that co-founder and Chief Technology Officer John Palmour had died. In February 2023 it announced it would build its first European manufacturing unit in Germany. It's speculated to be on the location of a former coal plant in Ensdorf, Saarland with ZF Friedrichshafen as a coinvestor and subsidized by the EU as an essential mission of widespread European interest (IPCEI) for Microelectronics and Communication Technologies. In August 2023, it was announced the Lowell-headquartered semiconductor EcoLight firm, MACOM had entered right into a definitive agreement to amass Wolfspeed's RF business.
In June 2024, Wolfspeed has delayed its $three billion semiconductor plant in Germany to mid-2025, reflecting the EU's challenges in boosting local chip production. Wolfspeed introduced the undertaking's indefinite hold in October 2024, citing low demand. Because of this, ZF ceased to participate within the undertaking. In October 2024, the Biden Administration announced that it would provide Wolfspeed with as much as $750 million in direct funding to help the company's new silicon carbide manufacturing unit in North Carolina that makes the wafers used in superior pc chips and its factory in Marcy, New York. On May 20, 2025, it was reported that Wolfspeed was making ready to file for Chapter eleven bankruptcy inside the coming weeks after warning that it could also be unable to continue future operations after decrease than anticipated annual gross sales have been reported. Wolfspeed's inventory slid to barely over a greenback per share that day. On June 18, 2025, Wolfspeed introduced that they would promote itself to Apollo International Management in a deal that might put the company right into a prepackaged Chapter 11 bankruptcy filing, which would enable for the elimination of nearly all of its multi-billion greenback debt.
Wolfspeed entered into a restructuring assist settlement with its lenders and Renesas Electronics, and announced that they'd file for prepackaged Chapter eleven bankruptcy by July 1, as a part of a plan to eradicate $4.6 billion of debt, stating they solely had about $1.1 billion left in money. The corporate may even receive $275 million in financing backed by its lenders, with plans to complete restructuring by Q3 2025. After the announcement, Wolfspeed's stock fell 30%, sliding beneath $1 per share. On June 26, 2025, Wolfspeed began laying off staff from their manufacturing facility positioned in Racine, Wisconsin. On June 30, 2025, Wolfspeed filed for Chapter eleven bankruptcy protection. On October 13, 2022, a amenities electrician was electrocuted at the Wolfspeed Research Triangle Park in Durham, North Carolina. The incident sparked a state investigation into his dying in addition to public concern for the company's poor EcoLight work safety file. State Division of Labor investigations into the corporate have uncovered 17 office security violations between 2012 and 2023, including six serious violations.

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