The US Department of Commerce has awarded $250 million to I-Pulse, a company co-founded by billionaire mining mogul Robert Friedland, through the CHIPS Office’s research and development program. The funding targets I-Pulse’s semiconductor and pulsed power technologies, part of Washington’s broader push to bring chip manufacturing back to American soil.

Friedland, who serves as I-Pulse’s chairman and CEO, called the collaboration a pivotal step toward reducing dependency on foreign semiconductor imports.

From mining to microchips

I-Pulse was established in 2007 with a focus on pulsed power applications in mining and energy. The company has since expanded its scope to include semiconductor technology. The company has also pursued acquisitions, including CSI Technologies, to bolster its capacity in capacitor manufacturing.

The $250 million award isn’t a venture capital check. It’s a government R&D grant, which means I-Pulse is expected to deliver on specific milestones related to advancing domestic semiconductor production and supply chain security. The money comes from the CHIPS and Science Act, the landmark legislation passed in 2022 that earmarked tens of billions of dollars to revitalize American chipmaking.

Why pulsed power matters for chips

Pulsed power semiconductors occupy a niche but strategically important corner of the chip market. These components are essential in applications ranging from radar systems and directed energy weapons to industrial processing and medical equipment.

The funding will also support workforce development initiatives, a critical piece of the puzzle given that the US semiconductor industry faces a well-documented talent shortage.