Stock Markets June 25, 2026 03:52 PM

I-Pulse Awarded $250 Million CHIPS Grant to Advance Pulsed-Power Geothermal Tech

Funding to support silicon-carbide semiconductor development for high-voltage pulsed drilling systems with national and energy security implications

By Derek Hwang
Share
Twitter Reddit Facebook LinkedIn

I-Pulse Inc. will receive $250 million from the U.S. Department of Commerce’s CHIPS program to develop silicon-carbide semiconductors and pulsed-power components for geothermal drilling that uses high-power electrical pulses. The award will support partnerships with U.S. national laboratories, universities, and specialized manufacturers and is presented as a step toward reducing reliance on foreign chip supply chains while strengthening national and energy security.

I-Pulse Awarded $250 Million CHIPS Grant to Advance Pulsed-Power Geothermal Tech
Summarize with
ChatGPT Perplexity Claude Grok Gemini

Key Points

  • The CHIPS program is funding development of silicon-carbide semiconductors and pulsed-power systems for geothermal drilling, impacting the semiconductor and energy equipment sectors.
  • The program is intended to reduce U.S. reliance on foreign chip supply chains, with implications for domestic manufacturing and national security policy.
  • I-Pulse will partner with U.S. national laboratories, universities, and specialized manufacturers, linking public research institutions with private-sector deployment.

I-Pulse Inc. has been granted $250 million from the U.S. Department of Commerce through the CHIPS program to advance semiconductor components for a geothermal drilling technology that uses high-power electrical pulses. The company, co-founded by billionaire Robert Friedland, disclosed the award on Thursday and said its laboratories in New Mexico will play a central role in the program.

The CHIPS program funding is targeted at the development of silicon-carbide semiconductor devices and pulsed-power systems. According to company materials, the work is intended to move U.S. capabilities forward and to address the country’s dependence on foreign chip supply chains. I-Pulse plans to carry out the technical development in collaboration with U.S. national laboratories, academic institutions, and manufacturers that specialize in these components.

Secretary of Commerce Howard Lutnick said the investment strengthens America’s capabilities and enhances national and energy security goals. In its statement, I-Pulse added that the award supports the development of critical pulsed-power components that could have implications for both energy security and national defense.

I-Pulse is focusing on silicon-carbide switches that the company says will permit drilling in rock formations where temperatures are high, enabling geothermal energy development in such conditions. The company applies high-voltage switching to create intense electrical pulses that fracture rock in front of drill bits, a process the company says can increase drilling speed and extend the life of drill bits. The stated objective of the technology is to reduce drilling costs for geothermal power installations in granite and other high-temperature formations.

The Albuquerque team leading the effort will be headed by Dr. Rick Spielman and Dr. Randy Curry, the company said. Robert Friedland described that group as the largest concentration of pulsed-power experts assembled at a U.S. company. I-Pulse, which was founded in 2007, operates facilities in Albuquerque, Detroit, and Toulouse, France.


Note on available details - The company announcement and the Commerce Department statement describe the scope and intent of the award, but they do not provide a detailed development timeline or explicit commercial milestones in the information released alongside the award.

Risks

  • The announcement does not include a development timeline or guaranteed commercial outcomes, leaving uncertainty about when or if the funded technologies will reach deployment - impacts energy and semiconductor markets.
  • The current U.S. dependence on foreign chip supply chains is cited as a reason for the program, indicating that reliance remains a vulnerability until domestic components are successfully developed and scaled - affects manufacturing and national security sectors.

More from Stock Markets

Service Properties Trust Shares Slip After Board Approves Five-for-One Reverse Split Jun 25, 2026 S&P Upgrades Jane Street Outlook to Positive, Cites Growing Franchise and Diversification Jun 25, 2026 Moody’s Lowers Dye & Durham Rating, Cites Operational and Liquidity Strains Jun 25, 2026 onsemi to Buy Synaptics for About $7 Billion to Build Out Physical AI Capabilities Jun 25, 2026 OpenAI May Push Back IPO to 2027 as Valuation Fight Intensifies Jun 25, 2026