Power module designed by Wolfspeed. Photo: Wolfspeed

The Defense Department on Wednesday evening said it has made a $1.5 billion conditional loan commitment to Wolfspeed, Inc. [WOLF], to strengthen the supply chain for materials and devices critical to high-performance propulsion systems, directed energy weapons, electronic warfare systems, radars and missile defense systems. Wolfspeed, based in North Carolina, said the long-term financing will support development and production of silicon carbide (SiC) semiconductor materials and widegap power devices. The company makes SiC wafers and power devices, and gallium nitride…