Flemish semiconductor firm BelGaN files for bankruptcy
Struggling Oudenaarde-based GAN specialist BelGaN has failed to secure the investment needed to continue and has declared bankruptcy.
BelGaN's history goes back to 2008, when ON Semiconductor acquired the Oudenaarde site and made semiconductor products for the automotive, industrial and medical sectors. In 2022, BelGaN acquired the fab, and decided to switch production from traditional silicon chips to gallium nitride chips, which can be used in electric chargers, electric cars and data centres.
Clearly, the company ran out of cash to fund the transition, hence this announcement. The firm employed 440 people, and says it is working with unions to support its employees.
A report in the Belgan News Agency confirmed the news and quoted a source in the firm, which said: “To finance the significant investments associated with this transition process, after the initial investment by shareholders, additional investments were sought. Several avenues were pursued in the process, unfortunately without success."
