Revealed: Could 26, 2023 at 10:18 a.m. ET

By Chris Wack

Coherent shares have been up 9% at $35.16 after the corporate stated it has signed a memorandum of understanding to collaborate with Mitsubishi Electrical on a program to scale manufacturing of SiC energy electronics on a 200 mm expertise platform.

The inventory hit its 52-week low of $26.29 on Could 10, and is down 40% previously 12 months.

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By Chris Wack

Coherent shares have been up 9% at $35.16 after the corporate stated it has signed a memorandum of understanding to collaborate with Mitsubishi Electrical on a program to scale manufacturing of SiC energy electronics on a 200 mm expertise platform.

The inventory hit its 52-week low of $26.29 on Could 10, and is down 40% previously 12 months.

The corporate stated the SiC energy electronics are utilized in electrical autos, and has decrease vitality losses, greater working temperatures, and better switching speeds in contrast with energy units based mostly on silicon.

Mitsubishi Electrical lately stated it’s constructing a brand new plant for SiC energy units, based mostly on a 200 mm expertise platform. Underneath the memo, Coherent will develop a provide of 200 mm n-type 4H SiC substrates for Mitsubishi Electrical’s future SiC energy units manufactured on the new facility.

Write to Chris Wack at chris.wack@wsj.com