Silicon Box welcomes European Commission approval of €1.3 billion Italian State aid measure to support new advanced packaging facility in Novara

Silicon Box welcomes European Commission approval of €1.3 billion Italian State aid measure to support new advanced packaging facility in Novara

Silicon Box welcomes European Commission approval of €1.3 billion Italian State aid measure to support new advanced packaging facility in Novara

December 19, 2024

Silicon Box welcomes European Commission approval of €1.3 billion Italian State aid measure to support new advanced packaging facility in Novara

Silicon Box welcomes European Commission approval of €1.3 billion Italian State aid measure to support new advanced packaging facility in Novara

Silicon Box welcomes European Commission approval of €1.3 billion Italian State aid measure to support new advanced packaging facility in Novara

December 19, 2024

Silicon Box welcomes European Commission approval of €1.3 billion Italian State aid measure to support new advanced packaging facility in Novara

December 19, 2024

Silicon Box welcomes European Commission approval of €1.3 billion Italian State aid measure to support new advanced packaging facility in Novara

ROME, Italy, December 19 - Silicon Box, a global leader in advanced semiconductor packaging and system integration, welcomes the European Commission's approval of approximately €1.3 billion for its new manufacturing facility in Italy. The project, representing a total investment of €3.2 billion, will create 1,600 high-skilled jobs and establish Europe's most advanced semiconductor packaging facilities. 

The investment supports the EU's strategic goal to produce 20% of the world's semiconductors by 2030 and marks Silicon Box's first manufacturing expansion beyond Singapore. With its proprietary large format panel-level process lines, the factory can scale up the packaging of chips 6 to 8 times more than traditional wafer-level packaging.  


"This strategic investment in Italy represents a pivotal moment in Europe's semiconductor renaissance," says Dr. Byung Joon Han, Chief Executive Officer of Silicon Box. "By bringing our advanced packaging technologies to the heart of Europe, we're not just expanding our global footprint – we're creating a cornerstone of the EU's semiconductor ecosystem that will serve critical sectors from automotive to artificial intelligence."  


Project Details and Timeline 

The new first-of-its-kind advanced manufacturing facility in Novara will feature: 

  • Panel-level packaging and heterogeneous integration capabilities 
  • R&D center focusing on next-generation packaging solutions 
  • Industry 4.0 automated manufacturing systems 
  • Key net-zero technologies to minimize carbon footprint and environmental impact 


Construction is expected to begin in the second half of 2025, with initial production planned for Q1 2028. The plant is expected to be operating at full capacity in 2033, processing approximately 10,000 panels per week.  


Regional Impact and Partnerships 

Under the Italian measure, Silicon Box is committed to strengthening Italy’s and the wider EU semiconductor value chain by bringing in advancing packaging technologies, managing supply shortages through priority orders, and developing workforce training programs.  

Silicon Box is already in talks with the local government to develop partnerships with educational institutions and workforce programs to cultivate a robust native talent which will include technicians and maintenance workers with expertise in automation, robotics, mechatronics, computer science, and graduates in electronic, mechanical, management, chemical and physical engineering. 


“We're committed to creating high-quality jobs, fostering local partnerships, and driving technological advancements that will benefit our customers and the broader economy, " says Michael Han, Head of Business, Silicon Box. “Silicon Box would like to express our gratitude to the Ministry of Enterprises and Made in Italy, Piedmonte government, local officials, and our partners for supporting this expansion. Silicon Box remains committed to driving innovation, ensuring supply chain resilience, and contributing to the economic growth of Italy and beyond.” 


Silicon Box’s key manufacturing services will enable the adoption of chiplets and high-performance alternatives that require integrating a wide variety of technology nodes and materials. The plant will specialize in advanced packaging solutions for AI, high-performance computing (HPC), data centers, automotive, mobile, IoT and robotic applications, addressing Europe's growing demand for advanced chip technologies. 

 

### 

 

Forward looking statement: 

This press release contains forward-looking statements that involve a number of risks and uncertainties. Such statements include: our manufacturing expansion and investment  plans and expectations in the European Union (EU) and the anticipated benefits therefrom;  anticipated supplier, ecosystem, community, and government support and approval for our planned EU investments and anticipated benefits related to such support; environmental  plans for and benefits from our factories and technologies; and other characterizations of  future plans, expectations, events, or circumstances. 


Such statements involve risks and uncertainties that could cause our actual results to  differ materially from those expressed or implied, including: changes in demand for our  products; Silicon Box’s failure to realize the anticipated benefits of its strategy, plans, and  proposed transactions; construction delays or changes in plans due to business,  economic, or other factors; increases in capital requirements and changes in capital  investment plans; adverse changes in anticipated government incentives and associated  approval related to Silicon Box’s planned EU investments; adverse legislative or other  government actions; insufficient ecosystem support; the impact of macroeconomic and  geopolitical trends and events; and other risks and uncertainties described in this press  release. 


All information in this press release reflects management’s views as of the date hereof unless an earlier date is specified. We do not undertake, and expressly disclaim any duty, to update such statements, whether as a result of new information, new developments, or otherwise, except to the extent that disclosure may be required by law. 

 

Inquiries 

Media: janice.yeo@silicon-box.com | media_enquiries@silicon-box.com 

Investors: mike.han@silicon-box.com 

 

About Silicon Box 

Silicon Box is an advanced semiconductor packaging company, specializing in cutting edge integration technology and manufacturing processes. We offer solutions that enable  chiplet architecture, as well as high performance alternatives to traditional packaging schemes. Leveraging our proprietary technology, 30 years of multi-sectoral expertise, and relationships with best-in-class partners, we strive to solve the unique challenges of  chiplet adoption to build the emergent technologies shaping the world around us today. 


Silicon Box was founded in 2021 by Dr. Byung Joon (BJ) Han, Dr. Sehat Sutardja, and Weili Dai. Dr. Han was previously the Chairman, CEO and CTO of the world’s 3rd largest outsourced assembly and test provider, STATS ChipPAC (SSE: 600584) for two decades, taking the company to $4B in revenue during his tenure. Dr. Han is the inventor of many of the most advanced packaging solutions in today’s market, and his team at Silicon Box holds standing records for yield in advanced packaging technology at wafer-level production. Dr. Sutardja introduced the concept of chiplets at the International Solid State Circuits Conference (ISSCC) in 2015. He and Weili Dai founded Marvell Technology Group (NASDAQ: MRVL) in 1995 and ran the company for twenty years from a start-up to an over $50B market value company. 

To learn more about Silicon Box go to: silicon-box.com/newsroom and silicon-box.com 


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June 8, 2026
SINGAPORE — 8 June 2026 — Silicon Box , a pioneer in advanced semiconductor panel-level packaging and chiplet integration, today announced that it has secured SGD 100 million in debt financing from leading institutional investors – funds managed by Ares Management Corporation (“ Ares ”), InnoVen Capital , January Capital Growth Credit (“January Capital”) , and Abound Capital . The facility includes an option to upsize by an additional USD 75 million. As traditional monolithic scaling approaches physical and economic limits, Silicon Box’s proprietary SiPlet® technology and panel-level packaging solutions are addressing critical bottlenecks in next-generation semiconductor design. Since its first high-volume manufacturing announcement last year, Silicon Box, as of Q1 2026, has achieved significant commercial traction, including the shipment of over 250 million units at near-perfect yield from its flagship Singapore manufacturing facility. “We are pleased to support Silicon Box in this next phase of growth,” said Dinesh Goel, Partner at Ares . “The company has demonstrated strong execution capabilities and operates at the leading edge of advanced packaging – a strategically important segment of the semiconductor value chain. We believe that Silicon Box is well-positioned to scale globally, and this financing reflects our confidence in the management team and the long-term growth outlook for advanced packaging.” “In capital-intensive industries like semiconductor manufacturing, access to flexible and scalable funding is critical to capturing growth opportunities. The proceeds will be deployed for capacity expansion to meet the rapidly growing market demand,” said Dr. BJ Han, co-founder and CEO of Silicon Box . "This financing enhances our capital base while minimising shareholder dilution, and we are pleased to partner with Ares, InnoVen, Abound, and January Capital. Their support reinforces confidence in our strategy and enables us to execute on our global expansion plans." The financing follows closely on the company’s recently completed USD 150 million Series B2 equity round, further strengthens Silicon Box’s capital structure to support its next phase of growth, and accelerates the global deployment of its advanced packaging solutions. With a strengthened balance sheet following the combined debt and equity financing, Silicon Box is well-positioned to expand manufacturing capacity, support increasing customer demand, and further its leadership in advanced packaging for sectors such as artificial intelligence (AI), high-performance computing (HPC), mobile, Internet of Things (IoT), robotics, and space tech. About Silicon Box Silicon Box is an advanced semiconductor packaging company, specializing in cutting-edge integration technology and manufacturing processes. We offer solutions that enable chiplet architecture, as well as high-performance, affordable alternatives to traditional packaging schemes. Leveraging our proprietary technology, 30 years of multi-sectoral expertise, and relationships with best-in-class partners, we strive to solve the unique challenges of chiplet adoption to build the emergent technologies shaping the world around us today. Silicon Box was founded in 2021 by Dr. Byung Joon (BJ) Han, Dr. Sehat Sutardja, and Weili Dai. To learn more about Silicon Box go to: silicon-box.com/newsroom and silicon-box.com/timeline . About Ares Management Corporation Ares Management Corporation (NYSE:ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to advance our stakeholders' long-term goals by providing flexible capital that supports businesses and creates value for our investors and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of March 31, 2026, Ares Management Corporation's global platform had over $644 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit www.ares.com . About InnoVen Capital InnoVen Capital is Asia’s leading debt provider supporting high growth technology companies across Southeast Asia, China, and India. Established as a joint venture between Seviora (a wholly owned subsidiary of Temasek Holdings) and UOB, we actively support talented founders in Asia in growing their businesses. For more information, please visit https://innovencapital.com/ . About January Capital January Capital is a multi-strategy investment firm headquartered in Singapore, investing in technology businesses that will power growth across the Asia-Pacific region over the next decade and beyond. The firm serves as a capital solutions provider through its two core strategies: early-stage venture equity and growth-stage credit. Learn more at www.january.capital . About Abound Capital Abound Capital is a private credit and venture debt firm established in Singapore with a mission to expand access to alternative capital for entrepreneurs in Southeast Asia. We provide non-dilutive and flexible source of growth funding to early and growth stage companies across the region. For more information, please visit www.aboundcap.com . ### End of Release ### For further inquiries, contact us: For press: janice.yeo@silicon-box.com For investors: hz.wong@silicon-box.com
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