EU green lights €81M support to Diamond Foundry in Spain
Diamond Foundry Europe will receive EU support for setting up a new factory for the production of semiconductor-grade rough synthetic diamonds in Trujillo, Spain.
Spain notified the EU Commission of its intention to support Diamond Foundry Europe in establishing a the facility in Trujillo, Extremadura. The Commission has approved a EUR 81 million Spanish measure to support the company in accordance with EU State aid standards.
The plant will produce rough synthetic diamond wafers using the company's plasma reactor technology. Synthetic diamonds can be used in the semiconductor industry as an alternative to other resources currently used, such as silicon. The project aims at serving the demand of sectors such as 5G networks and electric vehicles.
According to the plan, the support will take the form of a direct grant of EUR 81 million. The investment is estimated to total around EUR 675 million.
The plant is expected to have a capacity of approximately 4 to 5 million carats per year. The project will generate around 300 direct jobs, as well as additional indirect jobs.
