EU set to invest EUR 1.5bn in Belgian chip technology firm Imec
The EU has teamed up with the Flemish regional government to make a major investment in local firm Imec. The company says it will use the funds to expand its clean room test facility.
The investment represents a big vote of confidence by the EU in the Belgian semiconductor sector. It's part of the bloc's drive to attract more than EUR 43 billion in investments before the end of the decade as part of the European Chips Act. The EU has already invested more than EUR 300 million in IMEC from its flagship programmes Horizon 2020 and then Horizon Europe into IMEC.
Ursula von der Leyen, President of the European Commission, added: "Chips are essential for our green and digital transitions, and for our economies. Our economy would not function without chips. We need to reduce our dependency on too few suppliers from East Asia. And we actively have to de-risk our supply chains for chips. We need to promote the design, testing and production here in Europe. For that, the Chips Act is the game changer. And innovation champions like IMEC are a vital asset for our economic security."
“We know we will get our money back, not only in euros but also in societal dividend,” said Flemish minister-president Jan Jambon said at a joint press conference with European Commission President Ursula von der Leyen and Belgian Prime Minister Alexander De Croo.
