Overview
- The White House said there is credible evidence HieFo is controlled by a citizen of the People’s Republic of China and could threaten U.S. national security.
- The order prohibits HieFo from retaining any interest in the Emcore assets and sets a 180-day deadline to sell them under CFIUS supervision.
- Treasury said CFIUS identified a national security risk in the transaction, and the executive order relies on Defense Production Act authority.
- The assets include Emcore’s discontinued chips business and indium‑phosphide wafer fabrication in Alhambra, California, covering equipment, contracts, intellectual property and inventory.
- The sale closed on April 30, 2024 for about $2.9 million, and HieFo was founded by former Emcore executive Genzao Zhang with Harry Moore.