Wolfspeed Stock Jumps as It Launches 200mm Silicon Carbide Portfolio in Wake of Restructuring Approval

Wolfspeed has launched a 200mm silicon carbide material portfolio just days after a court approved its restructuring process.

Shares jumped 18.4% in premarket trading on Thursday.

"Wolfspeed's 200mm SiC wafers are more than an expansion of wafer diameter – it represents a materials innovation that empowers our customers to accelerate their device roadmaps with confidence," said Wolfspeed Chief Business Officer Cengiz Balkas. "By delivering quality at scale, Wolfspeed is enabling power electronics manufacturers to meet growing demand for higher-performing, more efficient silicon carbide solutions."

The Durham, N.C.-based company had already offered its 200mm SiC to select customers, but has now expanded that to a wider commercial market.

"This launch demonstrates our ability to anticipate customer needs, scale with demand, and deliver the materials foundation that makes the future of more efficient power conversion possible," Balkas added.

The 200mm SiC bare wafers have a wide range of end uses, including power electronics, electric vehicles, renewable energy, industrial and data centers.