Latest news for Soitec (OTC:SLOIY) Stock

Soitec is a French company that manufactures and sells engineered wafers for the semiconductor industry. Soitec is the number-one provider of silicon-on-insulator wafers worldwide and also provides other engineered substrates like gallium nitride or silicon carbide. Soitec sells wafers to fabrication plants that use the them to produce chips. Soitec has facilities in France, Singapore, and China and plans to expand its capacity by 75% from 2022 to 2026.

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 Soitec Announces Financing, Construction of 1.3-MWp Concentrator Solar Power Plant in Portugal 

SILICON ON INS UNSP/ADR by Soitec, Bernin

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<ul>
	<li>Global semiconductor leader&nbsp;STMicroelectronics N.V.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>) and&nbsp;Soitec&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SLOIF#OTC">SLOIF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SLOIY#OTC">SLOIY</a>) disclosed the next stage of their&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/12/g29917933/stmicroelectronics-and-soitec-cooperate-on-sic-substrate-manufacturing-technology" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">cooperation on Silicon Carbide (SiC) substrates</a>.</li>
	<li>The deal included the qualification of Soitec&#39;s SiC substrate technology by STMicroelectronics, planned over the next 18 months.&nbsp;</li>
	<li>STMicroelectronics aims to adopt Soitec&#39;s SmartSiC technology for its future 200mm substrate manufacturing, feeding its devices and modules manufacturing business, with volume production likely in the midterm.</li>
	<li>&quot;The transition to 200mm SiC wafers will bring substantial advantages to our automotive and industrial customers as they accelerate the transition toward electrification of their systems and products. It is important in driving economies of scale as product volumes ramp,&quot; said Marco Monti, President Automotive and Discrete Group, STMicroelectronics.</li>
	<li>STMicroelectronics reported third-quarter FY22 revenue growth of 35.2% year-on-year to $4.32 billion, beating the consensus of $4.24 billion. EPS of $1.16 beat the consensus of $1.04.</li>
	<li>Automotive and Discrete Group (ADG) revenue rose 55.5% Y/Y to $1.56 billion. Analog, MEMS, and Sensors Group (AMS) revenue increased by 9.7% Y/Y to $1.38 billion. Microcontrollers and Digital ICs Group (MDG)&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/22/10/29431127/stmicroelectronics-clocks-35-revenue-growth-in-q3-backed-by-all-its-segments-margins-expand" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">revenue grew 47.7% Y/Y to $1.37 billion</a>.&nbsp;</li>
	<li>Price Action:&nbsp;STM shares closed higher by 5.34% at $58.88 on Wednesday.</li>
	<li>Photo Via Company</li>
</ul>

Soitec (OTC: <a class="ticker" href="/stock/sloiy#OTC">SLOIY</a>) today announced that a group of investors - including a large European energy supplier, the largest Portuguese installer of electrical grid infrastructure and the largest Portuguese Foundation - has completed financing and started construction of a 1.3-MWp concentrator photovoltaic (CPV) power plant in Portugal. This CPV solar plant is the first to be funded by the partnership, demonstrating the various stakeholders' strong confidence in CPV technology and its ability to fulfill Portugal's plans for generating cost-efficient renewable energy.

	Financial stakeholders in the project include Enovos, Luxembourg's main energy supplier operating also in Germany, France and Belgium, and the Calouste Gulbenkian Foundation, a Portuguese private institution of public utility whose statutory aims are in the fields of arts, charity, education and science. The CPV plant's installation is being managed by EIP (Electricidade Industrial Portuguesa) while Luz-On is the project developer and Soitec is supplying the CPV equipment - all being also shareholders of the project company.

	"We are delighted to have the opportunity to work with Enovos, the Calouste Gulbenkian Foundation, EIP and our partners Luz.On
 
 <a href="http://www.benzinga.com/pressreleases/13/12/g4121506/soitec-soitec-announces-financing-and-construction-start-of-solar-power">See full press release</a>

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