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U.S. Senate Majority Leader Charles E. Schumer Toured Akoustis Technologies’ Semiconductor Fab in Upstate New York
Sen. Schumer Expects Significant Semiconductor Manufacturing Expansion in Upstate New York with the Recently Passed CHIPS and Science Act of 2022 Canandaigua,
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[{"type":"text","content":"Sen. Schumer Expects Significant Semiconductor Manufacturing Expansion in Upstate New York with the Recently Passed CHIPS and Science Act of 2022 Canandaigua, N.Y., Sept. 06, 2022 (GLOBE NEWSWIRE) -- Akoustis Technologies, Inc. (NASDAQ: AKTS) (“Akoustis” or the “Company”), an integrated device manufacturer (IDM) of patented bulk acoustic wave (BAW) high-band RF filters for mobile and other wireless applications, announced that U.S. Senate Majority Leader Charles E. Schumer recently toured Akoustis’ semiconductor fab in Upstate New York with Akoustis founder and CEO, Jeff Shealy, Co-Chairman of the Board, Jerry Neal, and Director, Suzanne Rudy. The recently passed bipartisan Chips and Science Act of 2022 (“CHIPS Act”) legislation was introduced by New York Senator Schumer to boost U.S. competitiveness with foreign competitors, including China, by allocating billions of dollars toward domestic semiconductor manufacturing and science research. Senator Schumer expects the CHIPS Act “will help build more resilient domestic supply chains to help lower costs for families, address inflation, and strengthen national security by manufacturing more microchips in America.” Akoustis senior management has worked closely with the local, regional, and state government of New York, along with Senator Schumer’s office to support the passage of the Act, which will present a significant opportunity for the revitalization of Upstate New York’s semiconductor presence, and in particular, the greater Rochester area, where Akoustis’ manufacturing facility is located. The CHIPS Act includes more than $52 billion for U.S. companies producing computer chips, as well as billions more in tax credits to encourage investment in semiconductor chip manufacturing. It also provides billions of dollars to fund scientific research and to spur the innovation and development of other U.S. technologies. Jeff Shealy, founder and CEO of Akoustis, stated, “We were honored to have Senate Majority Leader Charles Schumer return to our New York semiconductor fab for an expanded tour as he championed the introduction and passage of the CHIPS Act. We believe Akoustis fits perfectly as part of Senator Schumer’s ‘blueprint to make New York a Global Innovation & Semiconductor Hub.’” Mr. Shealy added, “As Akoustis solely manufactures its semiconductor products in the United States,...