10:33 AM EST, 01/14/2025 (MT Newswires) -- Eaton (ETN) said Tuesday it secured a contract valued at about $20 million to support the construction of the New York Center for Research, Economic Advancement, Technology, Engineering and Science's new semiconductor research and development facility at the Albany Complex in New York.

The power management company said it will provide low- and medium-voltage switchgear for centralized power control and its Brightlayer power monitoring system for managing energy efficiency and reducing downtime.

Expected to be completed by 2026, the project is partially funded by NY CREATES, New York State, its industry partners, and the U.S. CHIPS & Science Act, according to the company.

Shares of Eaton were up nearly 2% in recent trading.

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