Published: May possibly 26, 2023 at ten:18 a.m. ET

By Chris Wack

Coherent shares had been up 9% at $35.16 soon after the firm stated it has signed a memorandum of understanding to collaborate with Mitsubishi Electric on a system to scale manufacturing of SiC energy electronics on a 200 mm technologies platform.

The stock hit its 52-week low of $26.29 on May possibly ten, and is down 40% in the previous 12 months.

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By Chris Wack

Coherent shares had been up 9% at $35.16 soon after the firm stated it has signed a memorandum of understanding to collaborate with Mitsubishi Electric on a system to scale manufacturing of SiC energy electronics on a 200 mm technologies platform.

The stock hit its 52-week low of $26.29 on May possibly ten, and is down 40% in the previous 12 months.

The firm stated the SiC energy electronics are made use of in electric autos, and has decrease power losses, greater operating temperatures, and greater switching speeds compared with energy devices primarily based on silicon.

Mitsubishi Electric not too long ago stated it is constructing a new plant for SiC energy devices, primarily based on a 200 mm technologies platform. Beneath the memo, Coherent will create a provide of 200 mm n-kind 4H SiC substrates for Mitsubishi Electric’s future SiC energy devices manufactured at the new facility.

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