Global circuit protection provider Littelfuse, Inc. has made an incremental $15 million investment in Monolith Semiconductor Inc. Littlefuse now has a majority ownership position in Monolith, a Texas-based start-up company developing silicon carbide technology.
Silicon carbide is a rapidly emerging semiconductor material that enables power devices to operate at higher switching frequencies versus conventional silicon. This allows inverters and motor drives to operate with significantly improved energy efficiency and reduced system cost.
Under the terms of its agreement with Monolith Semiconductor, Littelfuse has committed to adding to its investment once Monolith has achieved certain milestones. Littelfuse previously announced that its first quarter 2017 earnings per share guidance included $0.03 of expense to fund development activities with Monolith Semiconductor. This additional investment is expected to reduce earnings per share by $0.09 across the second through fourth quarters of 2017.