Asia Tech Wire (Nov 14) -- SK Siltron CSS, a semiconductor wafer maker under the SK Group, announced on Thursday that it has secured a $544 million loan from the U.S. Department of Energy.

SK Siltron CSS is a U.S. subsidiary of SK Siltron, manufactures wafers for use in power electronics applications, including electric and hybrid vehicles.

The company will use the financial support from the U.S. Department of Energy and the state of Michigan as a basis for completing the expansion of its Bay City plant in the state by 2027.

Upon completion of the expansion, SK Siltron CSS will focus on the production of high-performance silicon carbide (SiC) wafers based on the technology of its Auburn R&D center.