Littelfuse increases investment in Monolith Semi
Littelfuse has made an incremental USD 15 million investment in Monolith Semiconductor, a Texas-based start-up company developing silicon carbide technology.
Silicon carbide is a rapidly emerging semiconductor material that enables power devices to operate at higher switching frequencies versus conventional silicon. This allows inverters and motor drives to operate with significantly improved energy efficiency and reduced system cost. As a result of this additional investment, Littelfuse now has a majority ownership position in Monolith and will begin including Monolith in its operating financial results. Under the terms of its agreement with Monolith Semiconductor, Littelfuse has committed to add to its investment once Monolith has achieved certain milestones. “We are pleased to expand our partnership with Monolith's experienced team of silicon carbide and power semiconductor experts,” said Ian Highley, senior vice president and general manager, semiconductor products and chief technology officer for Littelfuse. “With the increasing needs to make power electronic devices that will be stronger and more efficient, we are excited about the opportunities this game-changing technology provides.” “Littelfuse has been a great partner with us as we move closer to the commercialization of our technology,” said Sujit Banerjee, PhD, CEO of Monolith Semiconductor. “We are working closely with Littelfuse to position our combined portfolios to develop innovative solutions for our customers.”