Tuesday, June 25, 2024
HomeInternationalASML, Eindhoven Tech University to invest $195 million in partnership

ASML, Eindhoven Tech University to invest $195 million in partnership

European tech giant ASML and the Eindhoven University of Technology announced on Thursday they will jointly invest 180 million euros ($195 million) in semiconductor research over the next decade.

ASML, the leading supplier of computer chip manufacturing equipment, faces challenges in expanding operations. It is concerned about whether the workforce and infrastructure in Eindhoven, Netherlands, can support its growth plans.

“The collaboration will increase the availability of PhDs, which our industry has a strong need for, and will provide scientific insights that are relevant to the chip industry and society,” ASML CFO Roger Dassen said in a statement announcing the deal.

“With this agreement we are investing in science in the Netherlands and in training experts.”

The university plans to spend 100 million euros to build and operate an advanced cleanroom facility. This facility will conduct semiconductor research in areas such as plasma physics, mechatronics, optics, and AI. ASML will invest 80 million euros in this partnership.

University President Robert-Jan Smits called this the university’s largest partnership ever, stating it will strengthen Eindhoven’s status as a “semicon hotspot.”

In March, the Dutch government announced a $2.7 billion investment in “Project Beethoven.” This project aims to improve roads, housing, and the electric grid around Eindhoven to ensure ASML does not move significant operations abroad.

In April, ASML signed a letter of intent with the city of Eindhoven to expand into an undeveloped area near the airport. This expansion could accommodate 20,000 additional employees.

At the end of 2023, ASML, based in Veldhoven, a suburb of Eindhoven, had 42,000 employees worldwide, with 23,000 in the Netherlands.

ASML projects annual sales of 44-60 billion euros by 2030, nearly doubling from 26.7 billion euros in 2023.

Subscribe To Newsletter


BRL Editor
BRL Editorhttps://businessreviewlive.com
Business Review Live covers finance, technology, travel, lifestyle, and everything in between through exclusive interviews and analysis, market statistics, digital video, and an expanded array of content formats.