Briefs: Strategic Moves in EVs, GaN, Solar, and Nuclear

The demand for renewable, clean, and efficient energy continues to grow, and power electronics companies are preparing to fill the need. Two companies are merging to expand wireless electric vehicle charging. Two others are partnering to develop GaN technology for data centers and grid infrastructure. In France, a chip manufacturer will use solar power for its operations. Finally, an advanced nuclear reactor developer has secured millions in new funding.

Wireless EV charging, GaN technology, solar energy, and nuclear reactors.

Electreon To Acquire InductEV for Wireless EV Charging

Electreon plans to acquire the assets of InductEV, Inc., a U.S.-based developer of high-power static wireless charging systems for electric freight fleets and heavy-duty electric transit. The company aims to accelerate wireless charging, expand in North America, and provide faster, more economical EV charging.

The memorandum of understanding calls for merging Electreon’s dynamic and stationary wireless charging with InductEV’s ultra-fast static systems to provide an end-to-end platform for passenger vehicles, buses, and heavy-duty trucks. The combined company will hold about 400 existing and pending patents on wireless charging technology.

Wireless charging for electric taxis. Image used courtesy of InductEV

A definitive agreement, due diligence, and regulatory approvals are required before the deal is finalized.

Navitas and GlobalFoundries Partner for GaN Tech for Data Centers

GlobalFoundries (GF) and Navitas Semiconductor have entered a long-term strategic partnership to strengthen and accelerate U.S.-based gallium nitride (GaN) technology, design, and manufacturing for data centers, energy and grid infrastructure, and industrial electrification.

The next-generation GaN tech, GaN-on-silicon, will be manufactured at GF’s facility in Burlington, Vermont. Production is expected to begin in 2026.

GF’s production facility in Vermont. Image used courtesy of GF

The partnership aims to create a secure, scalable U.S. pathway for GaN solutions while supporting decarbonization across advanced energy and compute platforms.

STMicro and TSE Sign PPA for Solar Energy

STMicroelectronics and TSE have agreed to a 15-year physical power purchase agreement (PPA) for about 780 GWH of solar energy. Beginning in 2027, TSE will supply STMicroelectronics (ST) with power from its solar parks in France.

The renewable energy will power ST’s R&D, design, and large-volume chip manufacturing in France. STMicroelectronics views the PPA as a step toward its goal to use 100% renewable energy and achieve carbon neutrality in its operations by 2027. ST has already signed PPAs in France, Italy, Morocco, and Malaysia.

PV development at a former industrial site, Fonderies du Poitou. Image used courtesy of TSE

TSE produces and develops photovoltaic systems and agrivoltaics across France. It operates four solar parks in France, with another slated to open at Fonderies du Poitou, a former automobile plant, in 2027.

X-energy Raises $700M in Series D Financing for Advanced Nuclear Reactors

X-energy Reactor Co. closed on a $700 million oversubscribed Series D financing round led by the global trading firm Jane Street. X-Energy will use the funds to expand its supply chain and support its advanced small modular reactors (SMRs).

X-energy’s orderbook includes about 11 GW, representing 144 SMRs. The company intends to accelerate the commercialization of its Xe-100 reactor and its proprietary Triso-X fuel. The Xe-100 is an 80 MWe reactor that can be scaled into a four-pack power plant totalling 320 MWe.

X-energy’s reactors use Triso-X fuel, a tri-structural isotropic particle fuel. X-energy is building a first-of-a-kind advanced nuclear fuel fabrication plant in Tennessee.

Triso-X fuel structure. Image used courtesy of X-energy

X-energy’s projects include a four-unit Xe-100 plant in Texas for Dow, over 5 GW of Xe-100 projects for Amazon, and a 6GW development for Centrica in the U.K.

Investors for this round included previous investors, Ares Management, Corner Capital, and NGP, along with new investments from ARK Invest, Galvanize, Point72, XTX Ventures, and others.