Navitas Semiconductor shares surge on U.S. government contract; will develop next-generation chip technology

Navitas Semiconductor shares rose 22% in after-hours trading. The company said it has been awarded the ALATTIS project by the U.S. Army Research Laboratory to develop next-generation 10 kV silicon carbide power semiconductor technology for defense applications. ALATTIS is short for "Accelerated Large-Area 10 kV Silicon Carbide Insulated Gate Bipolar Transistor Prototype Project." The project aims to develop a domestic manufacturing process for 10 kV silicon carbide insulated gate bipolar transistors and PIN diodes. The project is funded by the U.S. Army Research Laboratory under the DEVCOM framework and supported by JETX. Details such as the contract amount, duration, or work location were not disclosed in the announcement.