January 23, 2025 /SemiMedia/ — Belgium-based GaN manufacturer BelGaN filed for bankruptcy protection on July 30, 2024, and initiated an asset auction. The auction attracted several potential buyers, including Chinese companies.

BelGaN, a foundry specializing in GaN technology for the automotive, industrial, and medical sectors, operates 6-inch and 8-inch wafer production facilities. The company's bankruptcy was attributed to a failure to achieve profitability, cash flow shortages, and the impact of global supply chain issues.

The auction concluded on January 16, 2025, raising €23 million. One-third of the assets were acquired by Chinese companies, including approximately €8.5 million worth of high-tech equipment. The auction also garnered interest from a Swedish-Finnish consortium and BelGaN's former owner, Guido Dumarey, who had made a previous acquisition offer.

BelGaN's wafer fab in Oudenaarde features around 40,000 square feet of cleanroom space, with an annual production capacity of 19,000 6-inch GaN wafers. Despite progress in GaN technology and securing orders from clients, the company struggled with funding shortages, hindering its transformation efforts.