In brief: Corning is in line to be the next recipient of funding from the CHIPS and Science Act. The Gorilla Glass maker has signed a preliminary memorandum of terms with the US Department of Commerce that would provide up to $32 million in direct funding.
The Commerce Department said Corning plans to use the money to increase production of its High Purity Fused Silica (HPFS) and Extreme Ultra Low Expansion Glass (ULE). These materials are said to be key cogs in deep ultraviolet (DUV) and extreme ultraviolet (EUV) lithography machines and photomasks, and helping to enable a reliable domestic supply could go a long way in boosting America's position in the lithography supply chain.
Corning's planned expansion at its existing manufacturing facility in Canton, New York, will create more than 175 construction jobs and at least 130 good-paying manufacturing jobs.
It hasn't been all sunshine and rainbows for Corning as of late, however. Earlier this week, the European Commission launched an investigation to determine whether or not Corning broke local antitrust laws relating to its dominant market position as a supplier of smartphone cover glass.
Specifically, the commission wants to know if Corning's deals with handset makers and raw materials providers is harming the competition and ultimately, consumers. Shutting out rival glass producers could "deprive" consumers of cheaper and / or more durable alternatives, outgoing EU antitrust chief Margrethe Vestager hinted at.
Corning has been a major player in the smartphone industry since the mid-2000s. As the story goes, Corning developed a formula for hardened glass in the 1960s but never found a market for it and ultimately shelved it. Apple CEO Steve Jobs got in touch with the company while developing the first iPhone, and ended up using the hardened glass to protect the phone's screen.
The partnership kicked off a whole new market for Corning, and they've been heavily involved in the global smartphone industry ever since. Back in 2021, Apple invested an additional $45 million into the company, pushing its total investment in Corning to around $500 million.
Gorilla Glass manufacturer Corning to receive up to $32 million in Chips Act funding
