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Fast Technology reported on August 27th,BelGaN, a well-known European gallium nitride (GaN) semiconductor foundry, recently announced that it has filed for bankruptcy, and 440 employees are facing unemployment.

BelGaN is located in Oudenaarde, East Flanders, Belgium. It has more than 30 years of technical accumulation in the field of automotive semiconductor production and has made significant progress in gallium nitride technology.

BelGaN's predecessor was MIETEC, which was founded in 1983. After several acquisitions and reorganizations, it began to focus on the research and development of gallium nitride technology in 2009.

Despite BelGaN's technological achievements, its commercialization process encountered financial difficulties.

The company failed to find additional investment, resulting in a cash flow shortage. Combined with global supply chain tensions and geopolitical impacts, it exacerbated operational pressure and was ultimately forced to file for bankruptcy protection.

BelGaN has received bids from several potential acquirers, including a Swedish-Finnish consortium under the name of 7 Semiconductors Oy for approximately 130 million euros.

In addition, BelGaN's former owner and Belgian entrepreneur Guido Dumarey has also expressed interest in purchasing, but the specific bid has not been disclosed.