Fintech PR
Silicon Box cutting-edge, advanced panel-level packaging foundry announces $3.6B investment for expansion into Italy
Investment in Northern Italy (Nord Italia), will bring first-of-its-kind, end-to-end chiplet based semiconductor system integration to Europe
- Investment of up to $3.6B (€3.2B) will create approximately 1,600 semiconductor jobs at Silicon Box’s new manufacturing facility, and create thousands of indirect supplier and contract construction jobs
- New Italian facility will enable next generation applications in artificial intelligence (AI), high performance computing (HPC), large language models (LLM), electric vehicles (EV) and automotive, wearables, mobile, smart consumer, edge computing and more by providing advanced packaging and test capacity, anticipated to be in demand in the coming years
- Facilities will be constructed according to green building principles and will operate with high environmental standards to minimize carbon footprint and environmental impact. Silicon Box’s solutions allow greater sustainability through better thermal and electrical performance
- Silicon Box’s investment will align with the Italian government and the European Commission and Union’s goal of a more resilient semiconductor supply chain and to drive innovation
ROME, March 12, 2024 /PRNewswire/ — Silicon Box cutting-edge, advanced panel-level packaging foundry announced its intention to collaborate with the Italian government to invest up to $3.6B (€3.2B) in Northern Italy, as the site of a new, state-of-the-art semiconductor assembly and test facility. This facility will help meet critical demand for advanced packaging capacity to enable next generation technologies that Silicon Box anticipates by 2028. The multi-year investment will replicate Silicon Box’s flagship foundry in Singapore which has proven capability and capacity for the world’s most advanced semiconductor packaging solutions, then expand further into 3D integration and testing. When completed, the new facility will support approximately 1,600 Silicon Box employees in Italy. The construction of the facility is also expected to create several thousand more jobs, including eventual hiring by suppliers. Design and planning for the facility will begin immediately, with construction to commence pending European Commission approval of planned financial support by the Italian State.
As well as bringing the most advanced chiplet integration, packaging, and testing to Italy, Silicon Box’s manufacturing process is based on panel-level-production; a world leading, first-of-its-kind combination that is already shipping product to customers from its Singapore foundry. Through the investment, Silicon Box has plans for greater innovation and expansion in Europe, and globally. The new integrated production facility is expected to serve as a catalyst for broader ecosystem investments and innovation in Italy, as well as the rest of the European Union.
“We believe innovation is driven by cultural values that embrace curiosity, passion, and a tireless commitment to excellence,” said Dr. Byung Joon (BJ) Han, co-founder and CEO of Silicon Box. “Italy was one of our top choices for global expansion because we found that its culture shares our values. We have seen great promise through our collaborations with the Italian government and various regional, institutional and commercial stakeholders to date, which we know will be necessary to successfully execute this first-of-a-kind project in Europe.”
“We are excited to bring Italy to the forefront of chiplet deployment and the semiconductor industry, through this investment into the world’s most advanced packaging solution. It will enhance competitive strengths in design, artificial intelligence (AI), large language models (LLMs), electronic vehicles (EVs) and automotive, mobile, wearables, smart consumer, edge computing, and material sciences of the Italian ecosystem, and revolutionize Europe’s position in the global [semiconductors] supply chain,” said Dr. Sehat Sutardja, co-founder and Chairman of Silicon Box. “Throughout my career, I have always been a big believer in Italian and European ingenuity.”
Advanced Packaging to Drive Innovation across Italian and European Semiconductor Ecosystems
“Italy was chosen as the location for Silicon Box’s first global expansion for several reasons, including its infrastructure, strong talent base and the government’s initiative to support and streamline the business environment and key stakeholder conversations,” said Dr. Han. “The competitive jobs that Silicon Box’s new facility will create will include engineers, equipment technicians, factory operators, and business functions. Italy offers an exceptional ecosystem for higher education with strong traditions in various engineering disciplines. This was a decisive factor in Silicon Box’s choice to build in Northern Italy and will be essential to our long-term success.”
Wafer fabrication facilities, often referred to as “fabs”, create chips on silicon wafers through various advanced processes. Packaging facilities, such as the one planned for Italy by Silicon Box, receive completed wafers from fabs, cut them into individual chips, assemble or “package” them into final products and test them for performance and quality. The finished or packaged chips are then shipped to customers which include specialty chip design companies, integrated device manufacturers (IDMs) and original equipment manufacturers (OEMs).
Notably, Silicon Box facilities specialize in advanced chiplet integration capabilities (“advanced packaging”), on a large manufacturing format for scale. The chiplet concept is an alternative to traditional semiconductor manufacturing, which focused on building entire systems-on-chips (SoCs) on silicon wafers, then moving to conventional packaging processes. Chiplets describe manufacture of individual system modalities as standalone chips or chiplets on a wafer, then integrating these separate functionalities into a system through advanced packaging, creating a system-in-package (SiPs). With this, advanced packaging technology comes to the forefront of semiconductor manufacturing innovation, in a new paradigm for the industry.
The chiplet concept itself was introduced by Silicon Box co-founder Dr. Sutardja at the International Solid State Circuits Conference (ISSCC) in 2015, where he was plenary speaker. Dr. Han is the inventor of semiconductor packaging solutions fundamental to enable chiplets through advanced packaging. Their collaboration has been the basis for Silicon Box’s record-breaking progress as a company in the semiconductor manufacturing space, traditionally dominated by a few large companies.
Bringing Resilience and Sustainability to the Semiconductor Supply Chain, and Enabling Advanced AI Technology and Ecosystems in Europe
“Silicon Box’s new foundry in Italy will be able to accept wafers from all foundries and support a wide variety of customers, worldwide, through its innovative approach,” said Mike Han, Silicon Box’s Head of Business. “The location is well suited to work with Europe’s existing and planned semiconductor wafer fabrication clusters in Italy, Germany, and France. Proximity will enable close collaboration from design through to final manufacturing, and help increase resilience and cost efficiency of the European and global semiconductor supply chain, at a time when there is a global shortage for this type of technology.”
“Silicon Box’s investment in Italy can act as a catalyst for further investments by ecosystem companies and for building and attracting the talent needed to support a thriving European semiconductor industry,” co-founder Weili Dai said. “It will also enable existing Italian and European semiconductor interests to maximize their existing core competencies and drive further efficiency and innovation through the creative and cost-efficient deployment of advanced packaging and chiplet architecture to support their own strategic objectives. This is particularly significant for the development of native artificial intelligence, large language models, supercomputers, mobile, wearables, smart factories, and edge computing companies.”
“This new Silicon Box AI-powered smart factory will be the first to showcase the ecosystem’s technology end-to-end; from initial design and construction to full process automation, as well as employee and customer training from our comprehensive digital twin. This will facilitate seamless expansion, employee and customer immersion, and groundbreaking efficiencies in management and performance monitoring,” she added.
Recent global disruptions emphasize the need to build a more resilient supply chain for semiconductors in Europe. Silicon Box supports the European Commission’s goal to reclaim 20 percent of global semiconductor manufacturing capacity by 2030, and is committed to supporting a vision of a global semiconductor supply chain that is resilient and geographically balanced.
Silicon Box built it’s first advanced packaging facility in Singapore within a year, and began shipping finished products to customers three months after the factory’s grand opening, showcasing unique capability for fast project execution, which will also apply to the Italian factory.
Silicon Box’s products and practices are committed to sustainability and will adhere to high environmental standards across its global operations. This will also apply to Silicon Box’s first global facility in Northern Italy. This facility will be constructed and managed according to Europe’s net zero principles, minimizing its carbon footprint and the impact on the environment.
Forward-Looking Statements
This press release contains forward-looking statements that involve a number of risks and uncertainties. Such statements include: our manufacturing expansion and investment plans and expectations in the European Union (EU) and the anticipated benefits therefrom; anticipated supplier, ecosystem, community, and government support and approval for our planned EU investments and anticipated benefits related to such support; environmental plans for and benefits from our factories and technologies; and other characterizations of future plans, expectations, events, or circumstances.
Such statements involve risks and uncertainties that could cause our actual results to differ materially from those expressed or implied, including: changes in demand for our products; Silicon Box’s failure to realize the anticipated benefits of its strategy, plans, and proposed transactions; construction delays or changes in plans due to business, economic, or other factors; increases in capital requirements and changes in capital investment plans; adverse changes in anticipated government incentives and associated approval related to Silicon Box’s planned EU investments; adverse legislative or other government actions; insufficient ecosystem support; the impact of macroeconomic and geopolitical trends and events; and other risks and uncertainties described in this press release.
All information in this press release reflects management’s views as of the date hereof, unless an earlier date is specified. We do not undertake, and expressly disclaims any duty, to update such statements, whether as a result of new information, new developments, or otherwise, except to the extent that disclosure may be required by law.
About Silicon Box
Silicon Box is an advanced semiconductor packaging company, specializing in cutting-edge integration technology and manufacturing processes. We offer solutions that enable chiplet architecture, as well as high performance alternatives to traditional packaging schemes. Leveraging our proprietary technology, 30 years of multi-sectoral expertise, and relationships with best-in-class partners, we strive to solve the unique challenges of chiplet adoption in order to build the emergent technologies shaping the world around us today.
Silicon Box was founded in 2021 by Dr. Byung Joon (BJ) Han, Dr. Sehat Sutardja and Weili Dai. Dr. Han was previously the Chairman, CEO and CTO of the world’s 3rd largest outsourced assembly and test provider, STATS Chippac (SSE: 600584) for two decades, taking the company to $4B in revenue during his tenure. Dr. Han is the inventor of many of the most advanced packaging solutions in today’s market, and his team at Silicon Box holds standing records for yield in advanced packaging technology at wafer level production. Dr. Sutardja introduced the concept of chiplets at the International Solid-State Circuits Conference (ISSCC) in 2015. He and Weili Dai founded Marvell Technology Group (NASDAQ: MRVL) in 1995, and ran the company for twenty years from a start-up to an over $50B market value company.
To learn more about Silicon Box go to: silicon-box.com/newsroom and silicon-box.com
Link to press kit: https://bit.ly/SB-presskit-ITA
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Fintech PR
ADFW Unveils Full Agenda for 2024 Edition, One of the Most Impactful Financial Gatherings of the Year
ABU DHABI, UAE, Nov. 27, 2024 /PRNewswire/ — Abu Dhabi Finance Week (ADFW) has unveiled a compelling agenda for this year’s event that will take place from 9th to 12th December 2024. ADFW 2024 – ADGM’s flagship event with ADQ as its headline partner – is one of the most anticipated financial gatherings this year, with a lineup of industry-shaping events, influential speakers, and strategic forums that will explore the theme of ‘Welcome to the Capital of Capital.’
This third edition is in keeping with ADFW’s tradition of convening some of the most renowned global financial leaders, investors, policymakers, and thought leaders to address and analyse topics such as economic, human, cultural, environmental and technological capital, that make Abu Dhabi the ‘Capital of Capital’. The agenda for 2024 includes over 60 main and side events, more than 350 thematic sessions and approximately 600+ speakers. The event expects a gathering of over 20,000 attendees from around the world, representing over USD 30 trillion in managed assets.
Commenting on ADFW’s exceptional agenda, His Excellency Ahmed Jasim Al Zaabi, Chairman of ADGM and ADDED said, “Abu Dhabi Finance Week has firmly established itself as a global platform that attracts the most influential professionals in the finance industry from across the world. This year’s agenda for ADFW is a testament to Abu Dhabi’s position as a leading international financial hub, where innovation and collaboration drive progress for the Falcon Economy. ADFW continues to create unparalleled opportunities for meaningful dialogue, shaping strategies that strengthen resilience and growth in today’s evolving economic landscape, welcoming them to the ‘Capital of Capital’.”
Key forums, including the Abu Dhabi Economic Forum, Asset Abu Dhabi, RESOLVE 2024, Fintech Abu Dhabi, and the Abu Dhabi Sustainable Finance Forum (ADSFF) will return this year. New events for 2024 include the UBS Investment Forum, the China UAE Investment Summit with HSBC, the Islamic Finance Summit, the Spear’s Private Wealth Summit, and the Abu Dhabi Capital Markets Showcase.
Day 1: Opening Ceremony and Abu Dhabi Economic Forum
The official opening ceremony is on 9th December in the presence of esteemed members of Abu Dhabi’s leadership, heads of leading global investment and financial firms and other VIPs from the financial industry.
Abu Dhabi Economic Forum, a high-level leadership gathering, will feature in-depth discussions on the current state of and prospects for the Falcon Economy. It will bring together senior members of the Abu Dhabi government and prominent figures from the private sector, representing key industries. Speakers include the CEOs of Blackrock, Morgan Stanley, HSBC, Citigroup, BNY, Lunate, First Abu Dhabi Bank (FAB) and Aldar. ADEF Private Leadership Forum, Abu Dhabi Capital Markets Forum, the UBS Investor Forum and the prestigious ADFW Gala Dinner are a few of the major sub-events scheduled for the day.
Day 2: Asset Abu Dhabi and RESOLVE
The second day starts with Asset Abu Dhabi in association with ADCB, Mubadala and PGIM Global Asset Management. Bringing together asset allocators, asset managers, investment bankers, venture capitalists, private equities, family offices and other institutional investors, collectively managing over USD 30 trillion in assets, the event will see industry titans such as Ray Dalio, Robert Smith – Founder, Chairman & CEO at Vista Equity Partners, Aron Landy – CEO at Brevan Howard, and Bill Huffman – CEO at Nuveen take to the stage.
RESOLVE will also be held on this day, in collaboration with the Judicial Department. Under the theme ‘Resilience’, the event is set to host impactful conversations among key stakeholders from the global dispute resolution community and leaders from government, industry, and academia.
Day 3: Fintech Abu Dhabi and Global Financial Regulators Summit
Fintech Abu Dhabi, the Middle East’s largest fintech festival, will spotlight innovations in AI, digital security, and blockchain technology. Breakout events like Blockchain Abu Dhabi, RISK 4.0 Forum, Islamic Finance Summit and the AI Abu Dhabi Forum will showcase the transformative potential of emerging technologies. Leading voices, including Jeremy Allaire – CEO and Founder of Circle, Richard Teng – CEO of Binance, and Caroline Pham – U.S. CFTC Commissioner, will discuss the evolving landscape of financial technology.
The Global Financial Regulator Summit also returns as a closed-door gathering of international senior regulatory bodies and representatives from the MENA region, the European Union, the UK, Asia and the USA to discuss the approach to the opportunities and challenges presented by the rise of AI.
Day 4: ADSFF
Exactly one year after hosting its last edition at COP28, the Abu Dhabi Sustainable Finance Forum (ADSFF) will be held on the concluding day of ADFW to conduct discussions on sustainable finance, impact investing, and net-zero commitments. It will bring together impactful voices like H.E. Carme Artigas Brugal, Co-Chair of the AI Advisory Body at the United Nations, Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, Jonathan Dean of AXA IM and H.E. Majid Al Suwaidi, CEO of Alterra underscoring Abu Dhabi’s commitment to sustainability and green finance.
Curated side events include ‘Women in Finance’ and the ADFW Venture Park.
For more information on the agenda please visit What’s Happening in ADFW | Agenda – Abu Dhabi Finance Week
Register for Abu Dhabi Finance Week 2024 at Get your ticket – Abu Dhabi Finance Week
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NEW DELHI, Nov. 27, 2024 /PRNewswire/ — Comviva, a global leader in digital transformation solutions, specializing in customer experience management, data monetization, and mobile financial services, today announced the appointment of Raja Mansukhani as its Chief Strategy, Technology, and Transformation Officer. In this key role, Raja will drive the execution of strategic initiatives that are central to Comviva’s transformation and the realization of its ambitious Comviva 2.0 vision.
Raja brings over two decades of leadership experience across IT, telecommunications, fintech, and digital platforms. He has led organizations through large-scale business and operational transformations, market expansions, and the launch of innovative products and technologies in diverse global markets. Prior to joining Comviva, Raja was the CEO of a Digital Platforms company within the Axiata Group.
Welcoming Raja to the Comviva leadership team, Rajesh Chandiramani, Chief Executive Officer at Comviva, said, “We are thrilled to have Raja on board during this transformative phase for Comviva. His deep industry knowledge and proven ability to drive growth and innovation align perfectly with our vision for Comviva 2.0. Raja’s leadership will be instrumental in shaping our strategic direction and technology roadmap, as we continue to deliver cutting-edge digital solutions for our customers worldwide.”
Raja Mansukhani shared his enthusiasm about joining the Comviva team, stating, “I am honored to be part of Comviva, a company renowned for its pioneering solutions and steadfast commitment to a customer-centric approach. As the industry undergoes rapid transformation, this is an exciting opportunity to lead strategic initiatives alongside a talented team that will unlock new opportunities and accelerate Comviva’s growth while delivering differentiation and significant value creation for our customers. As a team, we will drive innovation, foster value-driven transformation, and work towards achieving the bold objectives of Comviva 2.0.”
With Raja’s appointment, Comviva reaffirms its commitment to delivering innovative, customer-first solutions while accelerating its transformation efforts to stay ahead in the rapidly evolving digital economy.
As part of its strategic growth, Comviva is enhancing its capabilities in digital commerce, data monetization, and customer experience solutions. By focusing on partnerships with technology leaders and hyperscalers, and advancing operational excellence across MarTech, FinTech, DigiTech, and RevTech, Comviva is positioning itself as a catalyst for innovation. These initiatives align with the company’s vision to lead the digital transformation journey, empowering businesses to unlock new revenue streams and deliver exceptional customer value.
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Fintech PR
LONGi and IUCN jointly release the Initiative of Advancing Climate Action and Biodiversity Conservation with Photovoltaic
XI’AN, China, Nov. 27, 2024 /PRNewswire/ — From November 11th to 22nd, the 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change took place in Baku, the capital of Azerbaijan. LONGi, in conjunction with the International Union for Conservation of Nature (IUCN), released the “Initiative of Advancing Climate Action and Biodiversity Conservation with Photovoltaic”. LONGi’s Vice President and Chief Sustainability Officer Zhang Haimeng, IUCN Deputy Director General Stewart Maginnis, and Ant Group Director of Sustainable Development Wang Xiaoying attended and witnessed the event.
The United Nations Environment Programme (UNEP) released a report highlighting that climate change, biodiversity loss, and environmental pollution are the three major global environmental challenges. As a leading global solar energy company, LONGi recognizes that innovation and development of renewable energy technologies such as solar power are not only crucial for reducing greenhouse gas emissions but also vital for the protection of ecosystems and biodiversity. After releasing Climate Action White Papers at COP conference for three consecutive years starting in 2021, LONGi, in collaboration with IUCN at COP29 this year, has taken corporate climate action to a new level by integrating it with biodiversity conservation efforts.
The initiative includes calls for companies to develop and implement climate and biodiversity protection measures in accordance with international multilateral environmental agreements (MEAs) and global standards, including the Convention on Biological Diversity, the United Nations Convention to Combat Desertification, the United Nations Framework Convention on Climate Change, and the Kunming-Montreal Global Biodiversity Framework. It also encourages following global best practices to ensure that all activities meet global climate and biodiversity protection requirements, adopting environmentally friendly methods in the design, construction, and operation of renewable energy projects, improving energy efficiency, and increasing the proportion of clean energy use. The initiative advocates for companies to establish a corporate culture for biodiversity conservation and to promote international cooperation, sharing, and dissemination of global best practices through partnerships.
IUCN Deputy Director General Stewart Maginnis stated in his speech that LONGi, as a leading company in the photovoltaic industry, is actively responding to the IUCN’s guidelines on the biodiversity impact of solar energy projects by releasing this initiative. We believe that the initiative can inspire broader industry and societal actions and will encourage more companies and organizations to participate in the development and application of renewable energy while also taking measures to mitigate their impact on the natural environment.
As biodiversity becomes an increasingly global concern, LONGi has been continuously focusing on how to use photovoltaic technology to promote biodiversity conservation since the 15th Conference of the Parties (COP15) to the United Nations Convention on Biological Diversity, which began in Kunming, Yunnan in 2021, and has actively put this into practice. During the COP28 conference, LONGi announced its “Zero-Carbon Life Plan for Pandas”, donating a distributed photovoltaic power station to the Qinling Giant Panda Conservation and Breeding Research Base in Foping, adopting a Qinling giant panda for life, and providing photovoltaic products and off-grid technology to support wildlife monitoring equipment in the protected area. Earlier, in 2022, LONGi donated photovoltaic modules to the Acquila Wildlife Conservation Base in South Africa, which not only provided daily electricity for the reserve but also clean water sources for wildlife, giving Acquila more possibilities for sustainable ecological operations.
In Duyun City, Guizhou Province, China, a 500kW “Solar +Tea Complementary Project” was established using LONGi photovoltaic products, exploring the application scenarios of photovoltaic technology in traditional tea gardens; the “Solar +Tea Complementary Project” model was also replicated in Pu’er City, Yunnan Province. In the world-famous Kubuqi Desert in Inner Mongolia, two photovoltaic power stations of 336kW and 338kW were built, with LONGi’s products helping arid areas achieve green ecological development with “generating electricity on the panels, planting under the panels, and breeding between the panels.”
Zhang Haimeng pointed out that as a leading global nature conservation organization, IUCN possesses extensive professional knowledge, a broad international network, and successful experiences on a global scale. This collaboration between LONGi and IUCN to release the biodiversity conservation initiative further refines and accelerates LONGi’s biodiversity practices. Through joint actions with IUCN, LONGi expects to more effectively promote global partners, policymakers, and the public’s understanding of the importance of biodiversity conservation, and to learn from excellent biodiversity protection projects such as Ant Group’s “Ant Forest,” actively taking effective measures to address global ecological challenges together. At the same time, as a leading global provider of green energy solutions, the photovoltaic technology and solutions that LONGi possesses can provide effective support for IUCN’s conservation actions.
“All things grow, and life is continuous. We call on humanity to join hands in protecting the Earth’s biodiversity and achieving harmonious coexistence between humans and nature. This is not just an initiative, but a call to action, looking forward to everyone contributing to the protection of biodiversity and the maintenance of ecological balance,” said Zhang Haimeng.
About LONGi
Founded in 2000, LONGi is committed to being the world’s leading solar technology company, focusing on customer-driven value creation for full scenario energy transformation.
Under its mission of ‘making the best of solar energy to build a green world’, LONGi has dedicated itself to technology innovation and established five business sectors, covering mono silicon wafers cells and modules, commercial & industrial distributed solar solutions, green energy solutions and hydrogen equipment. The company has honed its capabilities to provide green energy and has more recently, also embraced green hydrogen products and solutions to support global zero carbon development. www.longi.com
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