Statement on the President’s Decision Ordering the Divestment of Interests in Certain Assets of EMCORE Corporation by HieFo Corporation

WASHINGTON — Today, President Trump published an order ordering the divestment by HieFo Corporation (“HieFo”), a Delaware corporation and foreign person of certain assets of EMCORE Corporation (“EMCORE”), a New Jersey corporation. The assets that were the subject of the transaction comprised EMCORE’s digital chips and related wafer design, fabrication, and processing business, including a semiconductor manufacturing facility (the “EMCORE Digital Chips Business”). The Committee on Foreign Investment in the United States (“CFIUS” or the “Committee”) reviewed and investigated this transaction pursuant to Section 721 of the Defense Production Act of 1950, as amended (“Section 721”). CFIUS identified a national security risk arising from the transaction relating to potential access to EMCORE’s intellectual property, proprietary know-how, and expertise and to the potential diversion of supply of indium phosphide chips manufactured by the EMCORE Digital Chips Business away from the United States.