Navitas Semiconductor Corporation (Nasdaq: NVTS) and Magnachip Semiconductor Corporation (NYSE: MX) announced a license agreement giving Magnachip access to Navitas' GeneSiC silicon carbide technology for high-voltage and ultra-high-voltage power applications.

Under the agreement, Magnachip will license Navitas' GeneSiC Trench-Assisted Planar technology, covering 1,200 V, 2,300 V, 3,300 V and higher voltage platforms. Magnachip will also gain access to Navitas' SiC supply chain and materials ecosystem. The technology is planned to be ported, qualified, and internalized at Magnachip's fabrication facility in South Korea.

The licensed technologies are intended to support applications in energy and grid infrastructure, energy storage, industrial electrification, and automotive power systems, primarily targeting the South Korean market.

"This strategic partnership with Magnachip reflects our long-term vision to broaden GeneSiC adoption across high-voltage and ultra-high-voltage power markets," said Chris Allexandre, President and CEO of Navitas.

"This agreement opens an important new market opportunity for Magnachip in high-voltage and ultra-high-voltage SiC," said Chae Lee, Chief Executive Officer of Magnachip. "The addition of GeneSiC technology complements our existing MOSFET and power semiconductor portfolio."

The companies stated the agreement also encompasses areas beyond SiC, with additional partnership details expected to be announced at a later date. No financial terms of the agreement were disclosed.