Akash Systems (California)

On November 13th, The U.S. Department of Commerce and Akash Systems signed a non-binding preliminary memorandum of terms (PMT) to provide up to $18.2 million in proposed direct funding under the CHIPS and Science Act. This proposed CHIPS funding would support Akash construct a semiconductor manufacturing facility in West Oakland, California. 

• The proposed CHIPS investment would support the construction of a 40,000 square foot cleanroom space within an existing building to transform it into a facility for semiconductor manufacturing with various Diamond Cooling substrates, devices, and systems at scale. 
• The funding would support a $121 million investment by Akash and enable the company to leverage its intellectual property and experience of developing semiconductor technologies that serve important end markets such as communications and the defense industrial base. 
• For the purposes of construction for this project, Akash will operate under a project labor agreement (PLA) with the Alameda Building Trades and is emphasizing targeted hiring for West Oakland residents. 
• To support the company’s facility workforce development efforts, Akash will create over 400 good jobs with the free and fair choice to join a union and will collaborate with partners, including IUE-CWA, and continue its ongoing partnerships with Berkeley City College, Laney College, and Northeastern University Oakland Campus.