SPARC Foundry, a photonic semiconductor company, has received a €17.2 million ($19.7 million) investment from the Spanish Society for Technological Transformation. According to SPARC, the financing will enable the company to accelerate the launch of its photonic semiconductor manufacturing plant. The complex, which the company expects to open in 2027, will facilitate SPARC’s production of 20,000 wafers using III-V materials.

SPARC additionally expects to have an on-site cleanroom; a center for technology transfer; and a training center. The project will generate 200 highly skilled jobs and 550 indirect jobs, and it will attract multinational companies interested in advanced production capabilities in Europe, according to SPARC.

The announcement comes one day after Spain’s Indra Group announced that it had become the majority shareholder of SPARC, acquiring a 37% stake in the pure play foundry.

SPARC, which stands for “III-V Semiconductor Foundry and Advanced Photonics Research Center,” announced in October 2022 that it planned to establish and become Spain’s first commercial foundry for III-V semiconductors targeting integrated photonics. The foundry said at the time that it aimed to have its foundry operational around the end of 2023. In March 2024, SPARC said the foundry would be operational around the first half of 2026.