Regarding the Acquisition of Certain Assets of EMCORE Corporation by HieFo Corporation
Record date: 2026-01-08
( printed page 895) Order of January 2, 2026 Regarding the Acquisition of Certain Assets of EMCORE Corporation by HieFo Corporation By the authority vested in me as President by the Constitution and the laws of the United States of America, including section 721 of the Defense Production Act of 1950, as amended (section 721), 50 U.S.C. 4565 , it is hereby ordered: Section 1 . Findings. (a) There is credible evidence that leads me to believe that HieFo Corporation, a company organized under the laws of Delaware (HieFo) and
What this record contains
- Federal Register document
- 2026-00248
- Publication date
- 2026-01-08
- Citation
- 91 FR 895
- Issuing office
- Executive Office of the President
Official record excerpt
( printed page 895) Order of January 2, 2026 Regarding the Acquisition of Certain Assets of EMCORE Corporation by HieFo Corporation By the authority vested in me as President by the Constitution and the laws of the United States of America, including section 721 of the Defense Production Act of 1950, as amended (section 721), 50 U.S.C. 4565 , it is hereby ordered: Section 1 . Findings. (a) There is credible evidence that leads me to believe that HieFo Corporation, a company organized under the laws of Delaware (HieFo) and controlled by a citizen of the People's Republic of China, through the acquisition of the assets comprising the digital chips and related wafer design, fabrication, and processing businesses of EMCORE Corporation, a New Jersey corporation (Emcore Assets), which acquisition completed on April 30, 2024 (such acquisition, the Transaction), might take action that threatens to impair the national security of the United States; and (b) Provisions of law, other than section 721 and the International Emergency Economic Powers Act ( 50 U.S.C. 1701 et seq. ), do not, in my judgment, provide adequate and appropriate authority for me to protect the national security in this matter. Sec. 2 . Actions Ordered and Authorized. On the basis of the findings set forth in section 1 of this order, considering the factors described in subsection (f) of section 721, as appropriate, and pursuant to my authority under applicable law, including section 721, I hereby order that: (a) The Transaction is hereby prohibited, and ownership by HieFo of any interest or rights in any of the Emcore Assets, whether effected directly or indirectly through HieFo, or through HieFo's partners, subsidiaries, affiliates, or foreign person shareholders (collectively, Affiliates), is also prohibited. For the purposes of sections 2(a), 2(b), and 2(c) of this order, the United States nationals on HieFo's Board of Directors as of November 26, 2025, are not considered Affiliates of HieFo. (b) To effectuate this order, not later than 180 calendar days after the date of this order, unless such date is extended by the Committee on Foreign Investment in the United States (CFIUS), HieFo shall, and shall ensure that its Affiliates, divest all interests and rights in the Emcore Assets, wherever located, including contracts, inventory, tangible property, parts, fixed assets, accounts receivable, permits, real property leased or owned by EMCORE Corporation, and intellectual property. All actions by CFIUS referenced in this order may be conducted by the agencies designated by its Staff Chairperson and all obligations on HieFo or EMCORE Corporation are subject to any extensions of time, conditions, or exceptions as such CFIUS agencies determine are appropriate and will not impair the national security of the United States. (c) Immediately from the date of this order until such time as the divestment set forth in subsection (b) of this section (the Divestment) has been completed and verified to the satisfaction of CFIUS and CFIUS has communicated in writing to HieFo that the Divestment is complete, HieFo shall not, and shall ensure that its personnel does not, grant any access to the Emcore Assets or any non-public technical information, information technology systems, products, parts and components, books and records, or facilities in the United States of the Emcore Assets to any persons who are not personnel of HieFo, unless otherwise approved in writing by CFIUS. ( printed page 896) Not later than 7 calendar days after the date of this order, or after notification from CFIUS, as applicable, HieFo shall put in place and maintain any measures or controls deemed necessary by CFIUS to ensure that the access prohibited under this subsection does not occur. (d) Until the Divestment has been completed and verified to the satisfaction of CFIUS and CFIUS has communicated in writing to HieFo that the Divestment is complete, unless otherwise approved in writing by CFIUS, HieFo shall not, and shall ensure that its Affiliates do not, dissolve, reorganize, or transfer any interest or rights in any of the Emcore Assets, or otherwise change its or their legal structure or relocate, transfer, or sell any physical, intangible, or financial assets in a manner that would materially impede or prevent HieFo or its Affiliates from complying with this order as
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