News: Optoelectronics
12 January 2026
US orders HieFo to divest Emcore indium phosphide assets
US President Donald Trump has issued an executive order requiring Delaware-registered optical communications device developer and manufacturer HieFo Corp of Alhambra, CA, USA to divest the assets it acquired when it was formed on 30 April 2024 through a management buy-out of the digital chips business line and indium phosphide (InP) wafer fabrication operations of New Jersey-based Emcore Corp.
“There is credible evidence that leads me to believe that HieFo… controlled by a citizen of the People’s Republic of China… might take action that threaten to impair the national security of the USA,” it is stated.
The executive order follows a review by the Committee on Foreign Investment in the United States (CFIUS), which determined that the acquisition represented a national security risk relating to potential access to Emcore’s intellectual property, proprietary know-how and expertise, and to the potential diversion of supply of InP chips manufactured by the Emcore digital chips business away from the USA.
According to CFIUS, HieFo did not submit the transaction for review until after CFIUS’ non-notified team had initiated an investigation.
Within 180 days of the executive order (unless CFIUS grants an extension), the order directs HieFo to divest all interests and rights in the Emcore assets, including contracts, inventory, tangible property, parts, fixed assets, accounts receivable, permits, real property leased or owned by Emcore, and intellectual property.
HieFo is required to certify to CFIUS that it has destroyed or transferred all intellectual property associated with the Emcore assets. After certification is provided to it, CFIUS shall conclude its verification procedures within 90 days.
Until divestment is completed and verified by CFIUS, HieFo is barred from granting any non-Hiefo personnel any access to the Emcore assets or associated non-public technical information, information technology systems, products, parts and components, books and records, or facilities in the USA without CFIUS approval.
The order also bars dissolving, reorganizing or transferring any interest or rights in any of the Emcore assets or other actions that could impede compliance.
CFIUS is authorized to require auditing of HieFo to ensure compliance with the order and any conditions imposed by it.
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