A European investor intends to invest 200-250 million euros in the Oudenaarde factory previously operated by BelGaN, which recently went bankrupt. The factory will focus on producing photonic chips instead of gallium nitride technology, which had previously failed to generate profit. With a reopening planned for September and the potential to create 500 jobs, this investment highlights a significant step for the European chip industry in alignment with the European Chips Act's goals to enhance competitiveness.
"The BelGaN bankruptcy trustees have realized an important breakthrough in their search for a new future...there is a clear business plan for producing photonic chips."
"The European investor is committed to investing between 200 and 250 million euros in the former factory, aiming for a relaunch in September to create up to 500 jobs."
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