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The company wants to build an integrated chip plant for silicon carbide (SIC) power devices in Catania. They’re used to make relatively low-tech semiconductors for industrial applications like photovoltaics and energy storage.

The assistance will be provided in the form of an approximately €2 billion direct grant to STMicroelectronics to support its total investment of €5 billion.

The project will facilitate the establishment of a large-scale manufacturing facility for high-performance SiC chips. The facility is anticipated to be fully operational by 2032.

The facility is said to be the first of its kind in Europe, as there is currently no comparable mass-production facility.

Jean-Marc Chery, chief executive of STMicroelectronics, said: “The scale and synergies offered by this project will enable us to better innovate with high-volume manufacturing capacity, to the benefit of our European and global customers as they transition to electrification and seek more energy efficient solutions to meet their decarbonization goals.”