Category: Uncategorized

GlobalFoundries Announces Participation in Upcoming Investor Conferences

MALTA, N.Y., August 11, 2022 – GlobalFoundries (NASDAQ: GFS) today announced that it will participate in the following upcoming investor conferences.

  • Thursday, September 1, 2022, 9:30am PT – Deutsche Bank 2022 Technology Conference  
  • Thursday, September 8, 2022, 8:15am ET – Citi 2022 Global Technology Conference

Live webcasts and replays of the presentations will be accessible from the Investor section of GF’s website at investors.gf.com.

About GlobalFoundries

GlobalFoundries Inc. (GF) is one of the world’s leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. For more information, visit www.gf.com.

For further information, please contact:

[email protected]

GlobalFoundries Reports Second Quarter 2022 Financial Results

Record Revenue, Gross Profit, and Net Income

MALTA, N.Y., August 9, 2022 (GLOBE NEWSWIRE) — GlobalFoundries Inc. (GF) (Nasdaq: GFS) today announced preliminary financial results for the second quarter ended June 30, 2022.

Key Second Quarter Financial Highlights

  • Record revenue of $1.99 billion, up 23% year-over-year.
  • Record gross margin of 27.0% and adjusted gross margin of 28.0%.
  • Record operating margin of 14.9% and adjusted operating margin of 17.6%.
  • Record net income of $264 million and adjusted net income of $317 million.
  • Record adjusted EBITDA margin of 39.3%.
  • Cash and cash equivalents and marketable securities of $3.3 billion.

“In the second quarter, the GF team delivered on its commitments to customers and shareholders,” said CEO Dr. Thomas Caulfield. “We shipped a record 630 thousand wafers in the quarter, driven by double-digit growth at sites in the US and Europe. Our revenue grew 23% year-over-year, and we delivered record profitability, making significant progress towards our long-term financial model. Despite global supply chain challenges, the GF team continues to execute to our expansion plans as we build out capacity to meet our customers’ long-term needs. We remain on track to deliver a strong year of growth and profitability.”

Recent Business Highlights:

  • On the heels of the passage of the US CHIPS Act, GF announced the extension of its long-term agreement with Qualcomm which adds more than $4Bn in incremental wafer purchases from GF’s Malta, New York facility. With this extension, the total long-term agreement with Qualcomm now represents more than $7Bn in global revenue through 2028 across multiple technologies.
  • GF and ST Microelectronics signed a definitive agreement to create a new, jointly-operated 300mm semiconductor manufacturing facility adjacent to ST’s existing 300mm facility in Crolles, France. This new facility, combined with GF’s capacity expansion in Dresden, Germany, will triple GF’s capacity in Europe through 2028.
  • GlobalFoundries announced that its first tool has been moved into the company’s new facility on its Singapore campus.

Unaudited Summary Quarterly Results (in millions USD, except per share amounts and wafer shipments)1

Year-over-year Sequential
Q2’22 Q1’22 Q2’21 Q2’22 vs Q2’21 Q2’22 vs Q1’22
Net revenue $ 1,993 $ 1,940 $ 1,620 $ 373 23 % $ 53 3 %
Gross profit 538 $ 469 231 $ 307 133 % $ 69 15 %
Gross margin 27.0 % 24.2 % 14.3 % +1,270bps +280bps
Adjusted gross profit1 $ 559 $ 490 $ 267 $ 292 109 % $ 69 14 %
Adjusted gross margin 28.0 % 25.3 % 16.5 % +1,150bps +270bps
Operating profit (loss) $ 297 $ 225 $ (103 ) $ 400 388 % $ 72 32 %
Operating margin 14.9 % 11.6 % (6.4 )% +2,130bps +330bps
Adjusted operating profit (loss)1 $ 350 $ 279 $ 41 $ 309 754 % $ 71 25 %
Adjusted operating margin 17.6 % 14.4 % 2.5 % +1,510bps +320bps
Net income (loss) $ 264 $ 178 $ (174 ) $ 438 252 % $ 86 48 %
Net income (loss) margin 13.2 % 9.2 % (10.7 )% +2,390bps +400bps
Adjusted net income (loss)1 $ 317 $ 232 $ (30 ) $ 347 1,157 % $ 85 37 %
Adjusted net income (loss) margin 15.9 % 12.0 % (1.9 )% +1,780bps +390bps
Diluted earnings (loss) per share (“EPS”) $ 0.48 $ 0.33 $ (0.35 ) $ 0.83 237 % $ 0.15 45 %
Adjusted diluted earnings (loss) per share1 $ 0.58 $ 0.42 $ (0.06 ) $ 0.64 1,067 % $ 0.16 38 %
Adjusted EBITDA1 $ 784 $ 698 $ 466 $ 318 68 % $ 86 12 %
Adjusted EBITDA margin 39.3 % 36.0 % 28.8 % +1,050bps +330bps
Cash from operations $ 609 $ 845 $ 434 $ 175 40 % $ (236 ) (28 )%
Wafer shipments (300MM Equivalent) (in thousands) 630 625 595 35 6 % $ 5 1 %

1Adjusted gross profit, adjusted operating profit (loss), adjusted net income (loss), adjusted diluted earnings (loss) per share, and adjusted EBITDA are adjusted non-IFRS metrics; please see the reconciliation of IFRS to adjusted non-IFRS metrics in the section “Unaudited Reconciliation of IFRS to Adjusted non-IFRS” below.

Summary of Third Quarter 2022 Outlook (unaudited, in millions USD except per share amounts)2

IFRS Share-based compensation Non-IFRS Adjusted
Net revenue $2,035 – $2,065 — —
Gross Profit $557 – $590 $19 – $23 $580 – $609
Gross Margin (mid-point) 28.0% 29.0%
Operating Profit $301 – $343 $38 – $46 $347 – $381
Operating Margin (mid-point) 15.7% 17.8%
Net Income $278 – $318 $38 – $46 $324 – $356
Net Income Margin (mid-point) 14.5% 16.6%
Diluted EPS $0.50 – $0.58 $0.59 – $0.65
Adjusted EBITDA — $775 – $813
Adj. EBITDA Margin (mid-point) 38.7%

2The guidance provided above contains forward-looking statements as defined in the U.S. Private Securities Litigation Act of 1995, and is subject to the safe harbors created therein. The guidance includes management’s beliefs and assumptions and is based on information currently available. GF has not provided a reconciliation of its Third Fiscal Quarter outlook for adjusted Non-IFRS EBITDA and related Margin because estimates of all of the reconciling items cannot be provided without unreasonable efforts. Certain factors that are materially significant to GF’s ability to estimate these items are out of its control and/or cannot be reasonably predicted.

Unaudited Consolidated Statements of Operations

Three Months Ended
(in millions USD, except for per share amounts) June 30, 2022 June 30, 2021
Net revenue $ 1,993 $ 1,620
Cost of revenue 1,455 1,389
Gross profit $ 538 $ 231
Operating expenses:
Research and development 120 132
Sales, marketing, general and administrative 121 202
Total operating expenses $ 241 $ 334
Operating profit (loss) 297 (103 )
Finance expense, net (19 ) (28 )
Other income (loss) 16 (23 )
Income tax expense (30 ) (20 )
Net income (loss) $ 264 $ (174 )
Attributable to:
Shareholders of GlobalFoundries 264 (173 )
Non-controlling interest — (1 )
Earnings (loss) per share (“EPS”):
Basic $ 0.49 $ (0.35 )
Diluted $ 0.48 $ (0.35 )
Shares used in earnings (loss) per share calculation
Basic 535 500
Diluted 550 500

Unaudited Consolidated Statements of Financial Position

(in millions USD) June 30, 2022 December 31, 2021
Assets:
Cash and cash equivalents $ 2,474 $ 2,939
Receivables, prepayments and other 1,247 1,231
Marketable securities 525 —
Inventories 1,262 1,121
Current assets $ 5,508 $ 5,291
Deferred tax assets 313 353
Property, plant, and equipment, net 9,410 8,713
Marketable securities 263 —
Other assets 700 671
Noncurrent assets 10,686 9,737
Total assets $ 16,194 $ 15,028
Liabilities and equity:
Current portion of long-term debt $ 262 $ 297
Other current liabilities 3,051 2,866
Current liabilities $ 3,313 $ 3,163
Noncurrent portion of long-term debt 1,908 1,716
Other liabilities 2,315 2,116
Noncurrent liabilities $ 4,223 $ 3,832
Shareholders’ equity:
Common stock/additional paid-in capital 23,684 23,498
Accumulated deficit (15,026 ) (15,469 )
Accumulated other comprehensive (loss) (51 ) (54 )
Non-controlling interest 51 58
Total liabilities and equity $ 16,194 $ 15,028

Unaudited Consolidated Statements of Cash Flows

Three Months Ended
(in millions USD) June 30, 2022 June 30, 2021
Cash flows from operating activities:
Net income (loss) $ 264 $ (174 )
Depreciation and amortization 411 408
Finance expense, net and other (10 ) (2 )
Deferred income taxes 22 12
Other non-cash operating activities 23 131
Net change in working capital (101 ) 59
Net cash provided by operating activities $ 609 $ 434
Cash flows from investing activities:
Purchases of property, plant, equipment, and intangible assets (812 ) (423 )
Other investing activities (792 ) 217
Net cash used in investing activities $ (1,604 ) $ (206 )
Cash flows from financing activities:
Proceeds (repayment) of debt, net $ 124 $ (108 )
Other financing activities 83 45
Net cash (used in) provided by financing activities $ 207 $ (63 )
Effect of exchange rate changes (2 ) $ 5
Net change in cash and cash equivalents $ (790 ) $ 170
Cash and cash equivalents at the beginning of the period 3,264 635
Cash and cash equivalents at the end of the period $ 2,474 $ 805

Unaudited Reconciliation of IFRS to Adjusted Non-IFRS

Three Months Ended
(in millions USD) June 30, 2022 March 31, 2022 June 30, 2021
Gross profit $ 538 $ 469 $ 231
Gross profit margin 27.0 % 24.2 % 14.3 %
Share based compensation $ 21 $ 21 $ 36
Adjusted gross profit $ 559 $ 490 $ 267
Adjusted gross profit margin 28.0 % 25.3 % 16.5 %
Operating profit (loss) $ 297 $ 225 $ (103 )
Operating profit (loss) margin 14.9 % 11.6 % (6.4 )%
Share based compensation $ 53 $ 54 $ 144
Adjusted operating profit $ 350 $ 279 $ 41
Adjusted operating profit margin 17.6 % 14.4 % 2.5 %
Net income (loss) $ 264 $ 178 $ (174 )
Net income (loss) margin 13.2 % 9.2 % (10.7 )%
Share based compensation $ 53 $ 54 $ 144
Adjusted net income (loss) $ 317 $ 232 $ (30 )
Adjusted net income (loss) margin 15.9 % 12.0 % (1.9 )%
Diluted earnings (loss) per share $ 0.48 $ 0.33 $ (0.35 )
Share based compensation $ 0.10 $ 0.09 $ 0.29
Adjusted diluted earnings (loss) per share $ 0.58 $ 0.42 $ (0.06 )

Unaudited Reconciliation of Net Income (Loss) to Adjusted EBITDA

Three Months Ended
(in millions USD) June 30, 2022 March 31, 2022 June 30, 2021
Net income (loss) for the period $ 264 $ 178 $ (174 )
Depreciation and amortization $ 411 $ 408 $ 408
Finance expense $ 26 $ 29 $ 29
Income tax expense $ 30 $ 29 $ 20
Share based compensation $ 53 $ 54 $ 144
Restructuring and corporate severance programs — — $ 5
(Gains) on transactions, legal settlements and transaction expenses — — $ 34
Adjusted EBITDA $ 784 $ 698 $ 466
Adjusted EBITDA margin 39.3 % 36.0 % 28.8 %

Adjusted Financial Measures (Non-IFRS)

In addition to the financial information presented in accordance with IFRS, this press release includes the following adjusted non-IFRS metrics: adjusted gross profit, adjusted operating profit, adjusted net income (loss), adjusted diluted earnings (loss) per share and adjusted EBITDA. We define adjusted gross profit as gross profit adjusted for share-based compensation expense. We define adjusted operating profit as profit from operations adjusted for share-based compensation expense. We define adjusted net income (loss) as net income (loss) adjusted for share-based compensation expense. We define adjusted diluted EPS as adjusted net income (loss) divided by the dilutive shares. We define adjusted EBITDA as net income (loss), excluding the impact of finance expense, income tax expense, depreciation, amortization, share-based compensation expense, transaction gains and associated expenses, restructuring charges and litigation settlements.

We believe that in addition to our results determined in accordance with IFRS, these adjusted non-IFRS measures provide useful information to both management and investors in measuring our financial performance and highlight trends in our business that may not otherwise be apparent when relying solely on IFRS measures. These adjusted non-IFRS financial measures provide supplemental information regarding our operating performance that excludes certain gains, losses and non-cash charges that occur relatively infrequently and/or that we consider to be unrelated to our core operations. For further information regarding these non-IFRS measures, please refer to “Unaudited Reconciliation of IFRS to Adjusted Non-IFRS” table above.

Adjusted non-IFRS financial information is presented for supplemental informational purposes only and should not be considered in isolation or as a substitute for financial information presented in accordance with IFRS. Our presentation of adjusted non-IFRS measures should not be construed as an inference that our future results will be unaffected by unusual or nonrecurring items. Other companies in our industry may calculate these measures differently, which may limit their usefulness as a comparative measure.

Conference Call and Webcast Information

GF will host a conference call with the financial community on Tuesday, August 9, 2022 at 8:30 a.m. U.S. Eastern Time (ET) to review the Second Quarter 2022 results in detail. Interested parties may join the scheduled conference call by registering https://register.vevent.com/register/BIeafbd546fa2f42e4bcf2451abc7b44cf

The call will be webcast and can be accessed from the GF Investor Relations website https://investors.gf.com. A replay of the call will be available on the GF Investor Relations website within 24 hours of the actual call.

About GlobalFoundries

GlobalFoundries® (GF®) is one of the world’s leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. For more information, visit www.gf.com.

Forward-looking Statements

This press release includes “forward-looking statements” that reflect our current expectations and views of future events. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995 and include but are not limited to, statements regarding our financial outlook, future guidance, product development, business strategy and plans, and market trends, opportunities and positioning. These statements are based on current expectations, assumptions, estimates, forecasts, projections and limited information available at the time they are made. Words such as “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” “shall,” “outlook,” “on track,” and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are subject to a broad variety of risks and uncertainties, both known and unknown. Any inaccuracy in our assumptions and estimates could affect the realization of the expectations or forecasts in these forward-looking statements. For example, our business could be impacted by the COVID-19 pandemic and supply chain disruptions due to the Russia/Ukraine conflict and actions taken in response to such events; the market for our products may develop more slowly than expected or than it has in the past; our operating results may fluctuate more than expected; there may be significant fluctuations in our results of operations and cash flows related to our revenue recognition or otherwise; a network or data security incident that allows unauthorized access to our network or data or our customers’ data could damage our reputation; we could experience interruptions or performance problems associated with our technology, including a service outage; and global economic conditions could deteriorate. It is not possible for us to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results or outcomes to differ materially from those contained in any forward-looking statements we may make. Moreover, we operate in a competitive and rapidly changing market, and new risks may emerge from time to time. You should not rely upon forward-looking statements as predictions of future events. These statements are based on our historical performance and on our current plans, estimates and projections in light of information currently available to us, and therefore you should not place undue reliance on them.

Although we believe that the expectations reflected in our statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances described in the forward-looking statements will be achieved or occur. Moreover, neither we, nor any other person, assumes responsibility for the accuracy and completeness of these statements. Recipients are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date such statements are made and should not be construed as statements of fact. Except to the extent required by federal securities laws, we undertake no obligation to update any information or any forward-looking statements as a result of new information, subsequent events, or any other circumstances after the date hereof, or to reflect the occurrence of unanticipated events. For a discussion of potential risks and uncertainties, please refer to the risk factors and cautionary statements in our 2021 Annual Report on Form 20-F, current reports on Form 6-K and other reports filed with the Securities and Exchange Commission. Copies of our SEC filings are available on our Investor Relations website, investors.gf.com, or from the SEC website, www.sec.gov.

For further information, please contact:

Investor Relations
[email protected]

GlobalFoundries and Qualcomm Announce Extension of Long-term Agreement to Secure U.S. Supply through 2028

Multi-billion dollar revenue agreement increases global supply capacity reservation to cover multiple technologies

WASHINGTON, D.C., August 8, 2022 – Following the recent passage of the U.S. CHIPS and Science Act last week, GlobalFoundries (Nasdaq: GFS) (GF), a global leader in feature-rich semiconductor manufacturing and Qualcomm Technologies, Inc. today announced they are more than doubling their existing strategic global long-term semiconductor manufacturing agreement previously entered into by GF’s and Qualcomm’s respective subsidiaries. Today’s announcement secures wafer supply and commitments to support U.S.-based manufacturing through capacity expansion at GF’s most advanced semiconductor manufacturing facility, in Malta, New York.

The announcement was made in Washington D.C. at a CEO Summit co-hosted by GF, Ford Motor Company, and Applied Materials, which included National Economic Council Director Brian Deese, Under Secretary of Defense for Acquisition & Sustainability Dr. William LaPlante, and National Security Council Senior Director for Technology & National Security, Tarun Chhabra underscoring the importance of domestic manufacturing to national and economic security. The Summit included CEOs and senior leaders from across the semiconductor supply chain from tool and wafer manufacturers to key suppliers to end users of chips manufactured in the U.S.

GF has been manufacturing Qualcomm Technologies’ feature rich, high-performance chips for many years, reaching across its global footprint. In 2021, Qualcomm Global Trading Pte. Ltd (QGT), a subsidiary of Qualcomm Technologies, was one of GF’s first customers to secure their supply with a long-term agreement covering multiple geographies and technologies. That agreement secured 22FDX™ capacity at GF’s Dresden facility and will now include capacity at GF’s recently announced facility in Crolles, France, making QGT an anchor customer in GF’s leading European proprietary technology. QGT has also secured capacity in GF’s market leading 8SW radio-frequency silicon-on-insulator (RFSOI) technologies for Sub 6GHz 5G front-end module (FEM) which will be primarily manufactured in GF’s Singapore facilities, where site expansion plans are well underway with full ramp expected in early 2023.

Today’s announcement specifically extends QGT’s U.S. based collaboration with GF in FinFET for 5G transceivers, Wi-Fi, Automotive and IoT connectivity. GF’s FinFET platforms provide a best-in-class combination of performance, power and area that are well-suited for high-end Mobile, Automotive and IoT applications.

“This is terrific news for GlobalFoundries, Qualcomm Technologies and for upstate New York. Just days after we passed my historic, bipartisan CHIPS & Science bill, we can already see

the semiconductor industry reinvesting in the United States. This deal to 2028 proves what we have always known – that the industry will grow here when we are competitive with Asia and Europe. With major new federal incentives for microchip manufacturing in the U.S., I look forward to many more announcements like this to come,” said Senate Majority Leader Chuck Schumer

“With accelerating demand for 5G, Automotive and IoT applications, a robust supply chain is critical for ensuring innovation in these areas remains uninterrupted,” said Dr. Roawen Chen, Senior Vice President and Chief Supply Chain and Operations Officer, Qualcomm Technologies, Inc. “Our continued collaboration with GF helps us to expand the next generation of wireless innovation as we move toward a world where everyone and everything can be intelligently connected.”

“GF’s global manufacturing footprint enables us to partner with our customers to meet their capacity needs, where they need it,” said Dr. Thomas Caulfield, president and CEO of GF. “Our collaboration with Qualcomm Technologies delivers differentiation and innovation in mobile and IoT spanning three continents, and this long-term agreement extension provides Qualcomm Technologies with additional U.S. based manufacturing for a more resilient supply chain.”

“Today’s announcement from our CEO Summit in Washington, D.C. secures Qualcomm Technologies as a key long-term customer through 2028 in our most advanced fab in upstate New York, which together with U.S. CHIPS and state funding, will fuel expanding GF’s U.S. manufacturing footprint. We applaud the bipartisan efforts and leadership demonstrated by Senator Schumer and the incredible support of Commerce Secretary Raimondo to bring back chip manufacturing to America,” added Dr. Caulfield.

The global demand for semiconductors is growing at an unprecedented rate, and GF is responding to this growth through a series of strategic long-term agreements with existing and new customers and simultaneously expanding global capacity to meet customer demand in partnership with federal and local governments. Today’s announcement with Qualcomm Technologies is an important step consistent with this collaborative model.

About GF

GlobalFoundries (GF) is one of the world’s leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. For more information, visit www.gf.com.

Forward-Looking Statements

This news release may contain forward-looking statements, which involve risks and uncertainties. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. GF undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

About Qualcomm

Qualcomm is the world’s leading wireless technology innovator and the driving force behind the development, launch, and expansion of 5G. When we connected the phone to the internet, the mobile revolution was born. Today, our foundational technologies enable the mobile ecosystem and are found in every 3G, 4G and 5G smartphone. We bring the benefits of mobile to new industries, including automotive, the internet of things, and computing, and are leading the way to a world where everything and everyone can communicate and interact seamlessly.

Qualcomm Incorporated includes our licensing business, QTL, and the vast majority of our patent portfolio. Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of our engineering, research and development functions, and substantially all of our products and services businesses, including our QCT semiconductor business.

Contact:

Erica McGill
GlobalFoundries
(518) 795-5240
[email protected]

Investor Relations:

[email protected]

Qualcomm Contacts:

Pete Lancia, Corporate Communications
Phone: 1-858-845-5959
Email: [email protected]

Mauricio Lopez-Hodoyan, Investor Relations
Phone: 1-858- 1-858-658-4813
Email: [email protected]

GlobalFoundries, Applied Materials and Ford to Co-Host CEO Summit to Secure U.S. Chip Supply Chain

Business leaders and senior government officials to discuss new partnerships for U.S. technology leadership and collaboration on next steps following passage of CHIPS and Science Act

WASHINGTON, D.C., August 8, 2022 – GlobalFoundries (Nasdaq: GFS) (GF), Applied Materials, Inc. (Nasdaq: AMAT) and Ford Motor Company (NYSE: F) today announced that the three companies’ CEOs will be co-hosting a summit of senior government officials, CEOs and C-suite executives from companies either involved in technology manufacturing or companies whose ability to compete depends on continued innovation, technology leadership and access to semiconductor chips in the U.S.

The recent passage of the CHIPS and Science Act is a testament to the broad, bipartisan support and commitment to increasing semiconductor manufacturing in the U.S. These investments will enable the public-private partnerships that are needed to meet and keep up with the increasing demand for semiconductors. It will create the industrial strategy required to level the playing field for competitive semiconductor R&D and manufacturing in the U.S.

The CEO summit is bringing industry and senior government partners together to engage in a constructive dialogue to discuss how these public investments can accelerate semiconductor and emerging technology manufacturing, support the electrification of automobiles with a ready supply of chips, including feature-rich chips, and strengthen the United States’ economy, supply chains, and national security.

Joining industry leaders will be National Economic Council Director Brian Deese, Under Secretary of Defense for Acquisition & Sustainability Dr. William LaPlante, and National Security Council Senior Director for Technology & National Security, Tarun Chhabra underscoring the importance of domestic manufacturing to national and economic security.

“President Biden and Congress have taken the bold action to level the playing field for competitive semiconductor manufacturing in the U.S.,” said Dr. Thomas Caulfield, president and CEO of GF. “The CHIPS and Science Act protects U.S. economic, supply chain and national security by accelerating semiconductor manufacturing on American soil and provides our customers with the supply chain predictability, reliability and security they expect and deserve.”

The one-day summit is being held Monday, Aug. 8, 2022, in Washington and brings together leaders from:

  • Semiconductor equipment, manufacturing and product companies, and industry associations
  • Major automotive, technology and advanced systems companies
  • The White House and Department of Defense

“Semiconductors are the foundation of incredible advances in technology that will transform nearly every area of the economy over the coming decades,” said Gary Dickerson, president and CEO of Applied Materials. “The CHIPS and Science Act provides a catalyst for the industry to accelerate investments to make our supply chains more robust, speed up innovation and commercialization of next-generation technology, and create thousands of U.S. jobs.”

With the investments that semiconductor manufacturers, their customers and the U.S. government will be making following the legislation’s recent passage, summit participants will be discussing how industry stakeholders can best accelerate U.S.:

  • Semiconductor manufacturing
  • Transportation electrification
  • Economic, supply and national security

“With his expected signing of the bipartisan CHIPS and Science Act tomorrow, President Biden is making it clear that government and industry leaders are laying the foundation for the next chapter in American innovation and manufacturing,” said Jim Farley, President and CEO of Ford. “A reliable domestic supply of chips, including legacy semiconductors needed in the automotive and defense industries, will keep American manufacturing lines humming, help make sure customers get the connected and electric vehicles they want, and strengthen the American economy and national defense.”

More than 35 senior executives and leaders will be joining Dr. Thomas Caulfield, President and CEO, GF, Gary Dickerson, President and CEO, Applied Materials and Jim Farley, President and CEO, Ford at the summit for these timely and critical discussions. A list of participants may be found here.

About GF

GlobalFoundries, Inc. (GF) is one of the world’s leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. For more information, visit www.gf.com.

About Applied Materials

Applied Materials, Inc. (Nasdaq: AMAT) is the leader in materials engineering solutions used to produce virtually every new chip and advanced display in the world. Our expertise in modifying materials at atomic levels and on an industrial scale enables customers to transform possibilities into reality. At Applied Materials, our innovations make possible a better future. Learn more at www.appliedmaterials.com.

About Ford Motor Company

Ford Motor Company (NYSE: F) is a global company based in Dearborn, Michigan, that is committed to helping build a better world, where every person is free to move and pursue their dreams. The company’s Ford+ plan for growth and value creation combines existing strengths, new capabilities and always-on relationships with customers to enrich experiences for and deepen the loyalty of those customers. Ford develops and delivers innovative, must-have Ford trucks, sport utility vehicles, commercial vans and cars and Lincoln luxury vehicles, as well as connected services. Additionally, Ford is establishing leadership positions in mobility solutions, including self-driving technology, and provides financial services through Ford Motor Credit Company. Ford employs about 182,000 people worldwide. More information about the company, its products and Ford Credit is available at corporate.ford.com.

GlobalFoundries Media Contact:

Michael Mullaney
[email protected]

Applied Materials Media Contact:

Ricky Gradwohl
[email protected]

Ford Media Contact:

Melissa Miller
[email protected]

Expanding the Possibilities

By Mike Hogan, Chief Business Officer

As somebody who has been in the semiconductor industry for more than 35 years, I’ve had a front row seat to many innovations, and I’ve found a common theme. The most amazing innovations tend to happen when you push the envelope, challenge a paradigm, and refuse to settle for the status quo. That’s exactly what we’re doing at GF. We’re leaning in hard, successfully challenging the conventional definition of semiconductor manufacturing innovation, and focusing on the 70% of the semiconductor market that requires feature-rich process technology. The results speak for themselves. From smart thermostats, industrial robotics, and smart appliances to electric vehicles, optical data networks, low earth orbit satellite systems and premium smartphones, GF makes the chips that are vital to how we live, work and play.

We’re also challenging the status quo related to investment and collaboration. Our leadership in voicing the need for public private partnerships was clearly reinforced by the passing of the Chips and Science Act this week, confirming the importance of ongoing semiconductor manufacturing and innovation in the United States toward national interests such as supply chain security and access to advanced technology. This investment not only shows the power of embracing new strategies and partnering together, but also the power of energizing the community.

Most importantly though, it all starts with a feature-rich approach. We work in lockstep with our customers to develop innovative process features that enhance and elevate capabilities for RF communications, efficient conversion and delivery of power, and precision analog for sensing. Our laser focus on select end markets means our solutions are differentiated and purpose-built for automotive, smart mobile, IoT, communications infrastructure, and data centers.

Here are just a few of the ways we’re bringing new innovations to life:

  • We continue to lead the way in radio frequency (RF) innovations with GF Connex, our feature-rich RF portfolio designed for next-gen wireless connectivity. We’re collaborating with industry leaders like Qualcomm, Broadcom, Fujikura, MediaTek, and others to address varied RF needs across smart mobile, IoT, and communications infrastructure.
  • Our advancements in silicon photonics continue to address explosive growth of soaring data volumes while significantly reducing power consumption. We are working with industry leaders including Broadcom, Cisco Systems, Inc, Marvell and NVIDIA, along with breakthrough photonic leaders including Ayar Labs, Lightmatter, PsiQuantum, Ranovus and Xanadu, to deliver innovative, unique, feature-rich solutions to solve some of the biggest challenges facing data centers today. Our silicon photonics platform, GF Fotonix, is the first in the industry to combine its differentiated 300mm photonics features and 300GHz-class RF-CMOS on a silicon wafer, delivering best-in-class performance at scale. with partners like Cisco Systems, NVIDIA, and more.
  • And GF Labs is a program focused on advancing new technology and long-term roadmap differentiation across some of the trends shaping the global economy, such as IoT, 5G, 6G, and next-gen automotive to name a few. According to International Business Strategies, these trends will drive semiconductor market revenue to more than $1.3 trillion by the end of the decade. The efforts of GF Labs will ultimately help customers expand their product innovation and speed time-to-market.

Be sure to learn more on how GF is redefining semiconductor innovation and putting new possibilities within reach.

GlobalFoundries Statement on U.S. House of Representatives’ Passage of Legislation to Increase U.S. Semiconductor Manufacturing

MALTA, N.Y., July 28, 2022 – GlobalFoundries (Nasdaq: GFS) (GF) today hailed the U.S. House of Representatives’ passage of legislation to increase U.S. semiconductor manufacturing known as “CHIPS and Science Act”.

“With the votes taken today in the House of Representatives and yesterday in the U.S. Senate, Congress has expressed broad, bipartisan and national support for leveling the playing field for competitive semiconductor manufacturing in the U.S.,” said Dr. Thomas Caulfield, president and CEO of GF. “This week, Congress took action to protect U.S. economic, supply chain and national security by accelerating semiconductor manufacturing on American soil.”

The CHIPS legislation now moves to the White House and awaits President Biden’s signature. The Biden Administration has been a strong supporter of increasing semiconductor manufacturing and the many jobs it creates in the U.S., an effort that has been led by Secretary of Commerce Gina Raimondo.

“The investment being made will pay dividends through creation of high-paying jobs, community vitality, research and development, and innovation in the U.S.,” Caulfield added. “For GlobalFoundries, joint GF-customer-government partnership is a great example of how our nation’s greatest challenges can be solved by embracing new strategies and partnering together.”

More than ever, consumers, businesses and governments depend on semiconductor chips in mobile devices, vehicles, the Internet of Things (IoT), 5G infrastructure, national defense and many other applications.

“We are grateful to Speaker Nancy Pelosi, Congressman Paul Tonko, Congressman Peter Welch, CHIPS Act sponsors Congressman Michael McCaul and Congresswoman Doris Matsui, and the many steadfast leaders in the House, Senate, White House and Department of Commerce who helped us overcome obstacles and remained focused on increasing the U.S. share of global semiconductor manufacturing in America,” said Caulfield. “The leadership, persistence and spirit of collaboration and compromise on both sides of the aisle and across different branches of government are the reason we’ve reached this critical moment.”

Once CHIPS Act funding legislation is signed into law, investments GlobalFoundries receives from the $52 billion in the legislation will be combined with similar investments being made by GF and its customers to expand the company’s manufacturing, research and development at its

manufacturing sites in New York and Vermont. GF is already spending more than a billion dollars to expand manufacturing capacity at its campus and headquarters in Malta and is ready to accelerate its expansion plans there with the construction of new manufacturing facility, known as a “fab,” that would create roughly one-thousand high-tech jobs and thousands more to the New York State economy and semiconductor ecosystem both during construction and after the fab comes into operation.

About GF

GlobalFoundries, Inc. (GF) is one of the world’s leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. For more information, visit www.gf.com.

Media Contact:

Erica McGill
GlobalFoundries
[email protected]

GlobalFoundries Statement Following Senate Procedural Vote on Legislation To Bolster U.S. Competitiveness

MALTA, N.Y., July 19, 2022 – GlobalFoundries (Nasdaq: GFS) (GF) today released the following statement on today’s bipartisan procedural vote in the U.S. Senate to advance CHIPS Act funding that will strengthen the competitiveness of semiconductor chip manufacturing in America: 

“Today’s vote is an important, necessary and welcome milestone in an effort to develop and enact policies that strengthen U.S. high-tech manufacturing competitiveness, economic and national security, and create high-paying semiconductor manufacturing jobs in America,” said Dr. Thomas Caulfield, president and CEO of GF. “The past two years have clearly shown how vitally important chips are to American consumers, businesses and the economic health of our nation, both today and in the future.”  

“On behalf of GF’s more than 7,000 U.S. employees, I’d like to convey our appreciation to Senators Schumer and Cornyn, U.S. Secretary of Commerce Gina Raimondo and the many other leaders from both parties that have worked tirelessly and persistently to get us to this point,” Caulfield added. “Now our country needs the Senate, House of Representatives and White House to make a final push so that we can grow chip manufacturing in the U.S.” 

Demand for semiconductors has soared with the rapid growth in use of chips in mobile devices, vehicles, the Internet of Things (IoT), 5G infrastructure and more.  

Headquartered in Malta, New York, GF has been increasing manufacturing output at its manufacturing facilities, known as “fabs,” in Malta, and Burlington, Vermont, as well as facilities in Germany and Singapore. Once Congress funds the CHIPS Act, the investments GF receives from the $52 billion in the legislation will be used to expand GF manufacturing, research and development in the U.S., including expansion of manufacturing capacity and creation of new jobs at GF’s existing campus in Malta.  

STMicroelectronics and GlobalFoundries to advance FD-SOI ecosystem with new 300mm manufacturing facility in France

  • New jointly-operated, high-volume manufacturing facility to support European and global customers’ demand as the world transitions to digitalization and decarbonization 
  • New facility to support a broad range of technologies including GF’s market leading FDX™ technology and ST’s comprehensive technology roadmap down to 18nm for automotive, industrial, IoT and communications infrastructure applications 
  • Projected multi-billion euro collaborative investment that includes significant financial support from the State of France 

CROLLES, France, July 11, 2022 – STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, and GlobalFoundries Inc. (Nasdaq: GFS), a global leader in feature-rich semiconductor manufacturing, today announced they have signed a Memorandum of Understanding to create a new, jointly-operated 300mm semiconductor manufacturing facility adjacent to ST’s existing 300mm facility in Crolles, France. This facility is targeted to ramp at full capacity by 2026, with up to 620,000 300mm wafer per year production at full build-out (~42% ST and ~58% GF). 

ST and GF are committed to building capacity for their European and global customer base. This new facility will support several technologies, in particular FD-SOI-based technologies, and will cover multiple variants. This includes GF’s market leading FDX technology and ST’s comprehensive technology roadmap down to 18nm, which are expected to remain in high demand for Automotive, IoT, and Mobile applications for the next few decades. 

FD-SOI technology has origins in the Grenoble (France) area. It has been part of ST technology and product roadmap in its Crolles facility since the early beginnings, and it was later enabled with differentiation and commercialized for manufacturing at GF’s Dresden facility. FD-SOI offers substantial benefits for designers and customers, including ultra-low power consumption as well as easier integration of additional features such as RF connectivity, mmWave and security. 

ST and GF will receive significant financial support from the State of France for the new facility. This facility will strongly contribute to the objectives of the European Chips Act, including the goal of Europe reaching 20% of worldwide semiconductor production by 2030. In addition to the sizeable, multi-year investment in advanced semiconductor manufacturing in Europe, it will support the leadership and resilience of the European technology ecosystems, from R&D (with the recently announced cooperation on R&D among ST, GF, CEA-Leti and Soitec) to large-volume manufacturing, and support European and global customers with additional capacity in complex, advanced technologies for key end-markets including automotive, industrial, IoT, and communication infrastructure. The new manufacturing facility will be a substantial contributor to global digital and green transformations – delivering key enabling technologies and products. It will generate additional employment at the ST Crolles site (approximately 1,000 additional staff for the new manufacturing facility) and across its ecosystem of partners, suppliers and stakeholders. 

By working together, ST and GF will leverage the economies of scale at the Crolles site as they accelerate semiconductor capacity the world needs with high capital efficiency. 

“This new manufacturing facility will support our $20 billion+ revenue ambition. Working with GF will allow us to go faster, lower the risk thresholds, and reinforce the European FD-SOI ecosystem. We will have more capacity to support our European and global customers as they transition to digitalization and decarbonization” said Jean-Marc Chery, President and CEO of STMicroelectronics. “ST is transforming its manufacturing base. We already have a unique position in our 300mm wafer fab in Crolles, France which will be further strengthened by today’s announcement. We continue to invest into our new 300mm wafer fab in Agrate (near Milan, Italy), ramping up in H1 2023 with an expected full saturation by end 2025, as well as in our vertically integrated silicon carbide and gallium nitride manufacturing.” 

“Our customers are seeking broad access to 22FDX® capacity for auto and industrial applications. The new facility will include GF dedicated foundry capacity for our customers offering GF’s unique innovation and will be managed by GF personnel onsite. This jointly operated, new manufacturing capacity expansion leverages ST’s Crolles existing facility infrastructure enabling GF to accelerate our growth while benefiting from economies of scale to deliver additional capacity in a highly capital efficient manner on our differentiated 22FDX platform, that has shipped more than one billion chips. With today’s announcement, we are expanding GF’s presence within Europe’s dynamic technology ecosystem and reinforcing our position as the leading semiconductor foundry in Europe,” said Dr. Thomas Caulfield, CEO GF. “Our global footprint enables GF to not only meet our customers capacity needs but also provides them supply chain security. The partnership investment with the French government, along with our long-term customer agreements, creates the right economic model for GF’s investment.” 

Additional information for GF investors is available at investors.gf.com. 

The project is subject to the execution of definitive agreements and various regulatory approvals, including from the European Commission’s DG Competition, and to the completion of the consultation with ST’s French Works Council. 

Forward-looking Information (ST) 

Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 or Section 21E of the Securities Exchange Act of 1934, each as amended) that are based on management’s current views and assumptions, and are conditioned upon and also involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those anticipated by such statements, due to, among other factors: 

  • changes in global trade policies, including the adoption and expansion of tariffs and trade barriers, that could affect the macro-economic environment and adversely impact the demand for our products; 
  • uncertain macro-economic and industry trends (such as inflation and fluctuations in supply chains), which may impact production capacity and end-market demand for our products; 
  • customer demand that differs from projections; 
  • the ability to design, manufacture and sell innovative products in a rapidly changing technological environment; 
  • changes in economic, social, public health, labor, political, or infrastructure conditions in the locations where we, our customers, or our suppliers operate, including as a result of macroeconomic or regional events, military conflicts, (including the military conflict between Russia and the Ukraine), social unrest, labor actions, or terrorist activities; 
  • unanticipated events or circumstances, which may impact our ability to execute our plans and/or meet the objectives of our R&D and manufacturing programs, which benefit from public funding; 
  • legal, political and economic uncertainty surrounding Brexit may be a continued source of instability in international markets and currency exchange rate volatility and may adversely affect business activity, political stability and economic conditions and while we do not have material operations in the U.K. and have not experienced any material impact from Brexit on our underlying business to date, we cannot predict its future implications; 
  • financial difficulties with any of our major distributors or significant curtailment of purchases by key customers; 
  • the loading, product mix, and manufacturing performance of our production facilities and/or our required volume to fulfill capacity reserved with suppliers or third party manufacturing providers; 
  • availability and costs of equipment, raw materials, utilities, third-party manufacturing services and technology, or other supplies required by our operations (including increasing costs resulting from inflation); 
  • the functionalities and performance of our IT systems, which are subject to cybersecurity threats and which support our critical operational activities including manufacturing, finance and sales, and any breaches of our IT systems or those of our customers or suppliers; 
  • theft, loss, or misuse of personal data about our employees, customers, or other third parties, and breaches of global and local privacy legislation, including the EU’s General Data Protection Regulation (“GDPR”); 
  • the impact of intellectual property claims by our competitors or other third parties, and our ability to obtain required licenses on reasonable terms and conditions; 
  • changes in our overall tax position as a result of changes in tax rules, new or revised legislation, the outcome of tax audits or changes in international tax treaties which may impact our results of operations as well as our ability to accurately estimate tax credits, benefits, deductions and provisions and to realize deferred tax assets; 
  • variations in the foreign exchange markets and, more particularly, the U.S. dollar exchange rate as compared to the Euro and the other major currencies we use for our operations; 
  • the outcome of ongoing litigation as well as the impact of any new litigation to which we may become a defendant; 
  • product liability or warranty claims, claims based on epidemic or delivery failure, or other claims relating to our products, or recalls by our customers for products containing our parts; 
  • natural events such as severe weather, earthquakes, tsunamis, volcano eruptions or other acts of nature, the effects of climate change, health risks and epidemics such as the COVID-19 pandemic in locations where we, our customers or our suppliers operate; 
  • increased regulation and initiatives in our industry, including those concerning climate change and sustainability matters and our commitment to be carbon neutral by 2027; 
  • potential loss of key employees and potential inability to recruit and retain qualified employees as a result of the COVID-19 pandemic, remote-working arrangements and the corresponding limitation on social and professional interaction; 
  • the duration and the severity of the global outbreak of COVID-19 may continue to negatively impact the global economy in a significant manner for an extended period of time, and could also materially adversely affect our business and operating results; 
  • industry changes resulting from vertical and horizontal consolidation among our suppliers, competitors, and customers; and 
  • the ability to successfully ramp up new programs that could be impacted by factors beyond our control, including the availability of critical third party components and performance of subcontractors in line with our expectations. 

Such forward-looking statements are subject to various risks and uncertainties, which may cause actual results and performance of our business to differ materially and adversely from the forward-looking statements. Certain forward-looking statements can be identified by the use of forward looking terminology, such as “believes,” “expects,” “may,” “are expected to,” “should,” “would be,” “seeks” or “anticipates” or similar expressions or the negative thereof or other variations thereof or comparable terminology, or by discussions of strategy, plans or intentions. 

Some of these risks are set forth and are discussed in more detail in “Item 3. Key Information — Risk Factors” included in our Annual Report on Form 20-F for the year ended December 31, 2021 as filed with the SEC on February 24, 2022. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this press release as anticipated, believed, or expected. We do not intend, and do not assume any obligation, to update any industry information or forward-looking statements set forth in this release to reflect subsequent events or circumstances. 

Unfavorable changes in the above or other risks or uncertainties listed under “Item 3. Key Information — Risk Factors” from time to time in our Securities and Exchange Commission filings, could have a material adverse effect on our business and/or financial condition. 

Forward-looking information (GF) 

This news release may contain forward-looking statements, which involve risks and uncertainties. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. GF undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless require by law. 

About STMicroelectronics 

At ST, we are 48,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An independent device manufacturer, we work with more than 200,000 customers and thousands of partners to design and build products, solutions, and ecosystems that address their challenges and opportunities, and the need to support a more sustainable world. Our technologies enable smarter mobility, more efficient power and energy management, and the wide-scale deployment of the Internet of Things and connectivity. ST is committed to becoming carbon neutral by 2027. Further information can be found at www.st.com. 

For further information, please contact: 

INVESTOR RELATIONS: 
Céline Berthier 
Group VP, Investor Relations 
Tel: +41.22.929.58.12 
[email protected] 

MEDIA RELATIONS: 
Alexis Breton 
Corporate External Communications 
Tel: + 33.6.59.16.79.08 
[email protected] 

About GF 

GlobalFoundries (GF) is one of the world’s leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. For more information, visit www.gf.com. 

Contact: 

Media: 

Laurie Kelly 
GlobalFoundries 
+1 518 265 4580  
[email protected] 

GlobalFoundries Announces Conference Call to Review Second Quarter 2022 Financial Results

MALTA, N.Y., July 06, 2022 – GlobalFoundries (NASDAQ: GFS) today announced that it will host a conference call on Tuesday, August 9, 2022, at 8:30am ET following the release of its second quarter 2022 financial results.

Conference Call and Webcast Information

The company will host a conference call with the financial community on Tuesday, August 9, 2022, at 8:30am ET. Interested parties may join the scheduled conference call by registering here.

The company’s financial results and a webcast of the conference call will be available on GF’s Investor Relations website at https://investors.gf.com.

2022 Capital Markets Day

Following the second quarter financial results on August 9th, GF will host its first Capital Markets Day on August 10, 2022, in New York City. The Capital Markets Day event will include business, manufacturing, technology, and finance updates from GF executives. Additional details, including registration information, for the 2022 Capital Markets Day can be obtained at https://investors.gf.com or by contacting [email protected].

About GlobalFoundries

GlobalFoundries® Inc. (GF®) is one of the world’s leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. For more information, visit www.gf.com.

For further information, please contact:
                 
[email protected]

GF Achieves Savings in Electricity, Chemical Use, and Waste Generation

By Candice Callahan  

Principal Member of the Technical Staff for EHS and CSR, GlobalFoundries 

Semiconductor manufacturing is an energy-intensive process. It also requires the use of many different chemicals. As part of our resource conservation efforts at GlobalFoundries (GF), we are constantly looking for new ways to save electricity and to be more energy efficient. Similarly, we also look for opportunities to reduce the amount of chemicals used and waste created at our manufacturing facilities around the world – all without compromising the quality of the wafers we produce for our customers. 

These efforts are a key part of GF’s commitment to being a leader in sustainable manufacturing and reducing our impact on the environment. 

Electricity Consumption 

At the end of 2021, GF completed its three-year resource conservation goal aimed at achieving savings in annual electricity consumption of 86 million kilowatt-hours (kwh). For comparison, this is roughly equivalent to the total electricity used by about 8,000 U.S. homes in an average year. 

Thanks to the effort of GF’s global team, we met and exceeded our electricity consumption savings goal, and decreased our normalized electricity use by 23%.  

Below are a few examples of electricity reduction projects completed in 2021 that contributed to GF’s achievements:  

  • Fab 9 in Essex Junction, Vermont, conserved electricity through several projects including infrastructure upgrades, lighting upgrades, and installing more energy efficient equipment. 
  • Fab 8 in Malta, New York, reduced power consumption by optimizing environmental controls in the cleanroom and adjustments to water pumps. 
  • Fab 7 and GIGA+ TM Fab in Singapore completed electricity saving projects including the upgrade of ventilation systems to increase energy efficiency, optimizing chilled water and cooling tower systems, and light replacement projects. 

Hazardous Waste & Chemical Usage 

At the end of 2021, GF completed its three-year resource conservation goal aimed at achieving savings in annual chemical use and waste generation by 7,100 tons. To help visualize this amount of weight, think of a group of about 1,600 elephants.  

GF was able to exceed its original target, achieving approximately 2.5 times our goal. Two strategies we used to accomplish this were source reduction – reducing or eliminating the use of the chemical or generation of the waste – and reusing and recycling materials. 

Some of the major projects contributing to our company’s success include:  

  • Fab 7 and GIGA+ TM Fab in Singapore reduced the use of chemicals including 290 tons of hydrogen peroxide, and reduced the overall amount of office waste that goes to landfills. 
  • Fab 1 in Dresden, Germany, reduced waste with a new wastewater pretreatment program, and a new project to separate, purify, and recycle deuterium used in the manufacturing process. 
  • Fab 8 in Malta, New York, implemented several optimizations including the reduction or elimination of certain chemicals used at various points in the semiconductor manufacturing process, as well as the installation of a new system for reusing sulfuric acid waste. 
2022 Corporate Social Responsibility Report

2022 Corporate Social Responsibility Report 

Above are just a few of the many environmental, social, and corporate governance success stories featured in GF’s 2022 Corporate Social Responsibility report. In addition to providing an update of how GF is performing against our sustainability goals, the report details how GF is playing a positive role in our communities and creating value by doing the right thing. 

Click here to read the full report.