Stock Markets June 25, 2026 06:07 PM

BHP-Backed I-Pulse Secures $250 Million from U.S. CHIPS Program to Advance Silicon-Carbide Pulsed-Power Technology

Award to support development of high-performance SiC components with applications across geothermal, mining, manufacturing and defense

By Nina Shah
Share
Twitter Reddit Facebook LinkedIn
BHP

I-Pulse, backed by mining giant BHP, has signed an agreement with the U.S. Department of Commerce securing a $250 million award from the CHIPS Research and Development Office to develop silicon-carbide semiconductor components for pulsed-power systems. The program, led by an Albuquerque team near national research facilities, will involve U.S. national laboratories, universities and specialized manufacturers and aims to support domestic semiconductor research, manufacturing capacity and supply-chain resilience.

BHP-Backed I-Pulse Secures $250 Million from U.S. CHIPS Program to Advance Silicon-Carbide Pulsed-Power Technology
BHP
Summarize with
ChatGPT Perplexity Claude Grok Gemini

Key Points

  • I-Pulse has signed an agreement with the U.S. Department of Commerce for a $250 million award from the CHIPS Research and Development Office to advance semiconductor and pulsed-power technology.
  • Funding will target development of high-performance silicon-carbide (SiC) semiconductor components for pulsed-power systems with applications in geothermal drilling, mining, rock crushing, manufacturing and defense.
  • The program will be led by an Albuquerque team near Sandia National Laboratories and the U.S. Air Force Research Laboratory and will involve U.S. national laboratories, universities and specialized manufacturers, supporting domestic research, manufacturing capacity and supply-chain resilience.

I-Pulse, a company supported by BHP, announced that it has entered into an agreement with the U.S. Department of Commerce for a $250 million award intended to accelerate its work on semiconductor and pulsed-power technology. The funding comes from the CHIPS Research and Development Office and is designated to bolster U.S. semiconductor research, increase domestic manufacturing capacity and strengthen supply-chain resilience.

The company, whose founders include mining financier Robert Friedland and Chief Technology Officer Laurent Frescaline, said the award will be used to develop high-performance silicon-carbide semiconductor components. Those components are intended for use in pulsed-power systems, a class of technology I-Pulse says can be applied across several industrial and defense use cases.

Applications cited for the pulsed-power technology include geothermal drilling, mining operations, rock crushing, manufacturing processes and defense-related systems. In geothermal drilling specifically, the company noted that pulse-induced fracturing can lead to faster drilling speeds, longer drill-bit life and the potential for lower operating costs.

Operationally, the program will be led by an Albuquerque-based team operating in proximity to Sandia National Laboratories and the U.S. Air Force Research Laboratory. The effort will engage U.S. national laboratories, academic institutions and specialized manufacturers as partners in development and scale-up activities.

The CHIPS Research and Development Office award is framed as part of a policy objective to support domestic semiconductor research and manufacturing, and to improve supply-chain resilience for critical technologies. The announcement highlights the collaboration between private industry, national laboratories and academic partners under the Albuquerque-led program.

While the award and stated goals outline a multi-institutional effort to advance silicon-carbide pulsed-power components, details such as specific timelines, milestone requirements, and commercialization pathways were not included in the announcement.

Risks

  • Cost and performance improvements described for geothermal drilling are presented as potential outcomes - the announcement indicates they may increase drilling speed and drill-bit life and potentially lower costs, but does not guarantee these results. This uncertainty affects sectors such as energy, mining and industrial services.
  • The announcement does not provide specific timelines, milestones or commercialization plans, creating uncertainty about when and how the technology will move from development to deployment, which has implications for manufacturers and supply-chain participants.
  • Details on award conditions, deliverables and metrics were not included in the release, limiting visibility into project governance and risk allocation for participating research labs, universities and specialized manufacturers.

More from Stock Markets

S&P Global Raises Life Time Credit Rating After Strong Membership and Revenue Trends Jun 25, 2026 Moody's Moves Ingersoll Rand Up One Notch, Flags Stable Outlook Jun 25, 2026 FedEx Freight Sees 4%-6% Revenue Rise for June-December, Flags Modest Profit Recovery Jun 25, 2026 Reformation Files to Go Public on NYSE, Cites Retail Expansion and Recent Capital Moves Jun 25, 2026 i-80 Gold shares tick higher after Archimedes drill results; some study dates pushed back Jun 25, 2026