Skadden advised SandboxAQ on its agreement with the U.S. Department of Commerce’s CHIPS Research and Development Office for a $500 million award. The award provides funding to develop novel molecules and formulations for semiconductor manufacturing within four programmatic areas: PFAS-free process chemicals, catalysts, rare earth-free magnets and battery systems. SandboxAQ plans to deepen its investment in ReAQT, its AI simulation platform, to accelerate the development timeline for new materials discovery.
In connection with the award, the Department of Commerce will receive a minority, non-voting equity stake in SandboxAQ.
SandboxAQ is a B2B company delivering solutions at the intersection of AI and quantum techniques.
The Skadden team included Samuel Cammer, Neil Stronski, Michelle Gasaway and Stu Levi.