Pallidus, a New York-based silicon carbide materials manufacturer, cancels plans to relocate and build a new plant

The Herald reported on October 30 that Pallidus, a New York silicon carbide material manufacturer, has canceled its relocation and new plant construction plans. According to previous reports, Pallidus originally planned to move to Rock Hill in the third quarter of 2023 and build a new 300,000 square foot plant there. However, due to changes in "market conditions", this plan was temporarily shelved. Pallidus was founded in 2015 and initially focused on producing pure M-SiC™ silicon carbide powder. In 2018, the company began to use its M-SiC™ platform to focus on growing silicon carbide crystals and manufacturing 6-inch SiC epitaxy. In 2021, Pallidus received millions of dollars in private equity investment to expand its factory. At the end of 2022, the company completed a $38 million financing.