A new partnership between the US government and a company that designs and manufactures electronic circuit boards for industrial use is raising eyebrows among crypto enthusiasts.
The US Department OF Energy (DOE) has awarded a $2 million grant to a company to develop “a new material” for the use in the construction of circuit boards, the Wall Street Journal reported.
The DOE is expected to announce its award of the $2.5 million grant in early December.
In a statement, the department said it would provide support to “a company that has developed a new material that can be used to make electronic circuit board components that are suitable for the production of electrical products”.
The company that the grant is being awarded to is known as the US-based Advanced Micro Devices (AMD) group, which is also behind the development of chips for the upcoming iPhone 5s, which will go on sale next month.
The chip maker, which announced in October it had won a $1 billion contract to supply the iPhone 5S to Apple, said in a statement it was excited to be a part of the award.
“The award of this new $2 billion award will support the company’s mission of making the next generation of mobile phones as safe, energy-efficient, and energy-secure as possible,” the company said.
“This award will also be instrumental in supporting the company to advance its mission of supporting the health and safety of the public by supporting research and development to improve our electronic circuit product technology and reduce the energy cost of making these products.”
The company has previously been named one of the “50 Most Innovative Companies” in the US.
According to the US Office of Management and Budget, the US semiconductor industry employs approximately 15,000 people.
The Department of Defense, the Federal Reserve and the Department of Homeland Security are also part of this partnership.
“Our partners are committed to supporting our semiconductor and manufacturing businesses to achieve our mission of securing and advancing the nation’s critical infrastructure and providing safe, clean, and reliable energy,” said US Secretary of Defense Ash Carter in a blog post announcing the grant.