08:17 AM EST, 12/09/2024 (MT Newswires) -- Coherent (COHR) said Monday that it has signed a non-binding preliminary memorandum of terms with the US Commerce Department to invest up to $33 million under the CHIPS and Science Act to modernize and expand a manufacturing cleanroom in Coherent's facility in Sherman, Texas.

Coherent said the project will expand its indium phosphide manufacturing line, which it said is used in datacom and telecom transceivers.

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