UK government gives £3m to Chinese-owned microchip firm based … – UKTN (UK Technology News

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Dynex Semiconductor, a Lincoln-based microchip firm owned by a Chinese language company, has acquired £3m in UK authorities help over the previous decade.
As revealed by The Telegraph, the British chip agency is in the end owned by Beijing-headquartered firm CRRC Company. CRRC is majority owned by the Belongings Supervision and Administration Fee, which itself is managed by the Chinese language state. In October final 12 months, the Pentagon blacklisted CRRC, accusing it of being a “Chinese language army firm”.
Nearly all of the monetary help for Dynex got here from Innovate UK, the federal government’s nationwide innovation company, which is funded partly by public cash. Dynex Semiconductor has additionally participated in analysis contracts with universities within the UK. It secured its most up-to-date Innovate UK funding in February final 12 months.
The Lincoln-based agency specialises in semiconductors for trains, electrical automobiles, and industrial machines. CRRC has owned a majority share in Dynex since 2008. It took full possession of the chip firm in 2019.
UKTN has reached out to Dynex, CRRC and Innovate UK for remark.
A spokesperson for Innovate UK informed The Telegraph that the company “carries out due diligence and danger evaluation of purposes for funding”.
The spokesperson added: “The place dangers are recognized acceptable controls are utilized, together with in search of recommendation throughout the wider authorities if required to make an knowledgeable choice to award or not.
“Innovate UK has strengthened present phrases and circumstances for business-led innovation grants, together with the event of grant portfolio instruments to allow acceptable firm monitoring, for instance to establish potential international possession points.”
Politicians have been on excessive alert over Chinese language-linked British microchip firms ever because the blocked sale of Newport Wafer Fab to Nexperia.
Members of the federal government have argued that Chinese language involvement in strategically vital tech sectors like semiconductors poses a danger to nationwide safety.
Earlier this month, UKTN revealed {that a} Chinese language state-connected holding firm primarily based in Shanghai acquired the British chip designer Flusso.
Conservative MP Alicia Kearns responded to the information by calling for a nationwide safety evaluate of the acquisition and stated the takeover “didn’t cross the scent check”.

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