Navitas Semiconductor Corp (NVTS) shares are soaring in extended trading Monday after the company was awarded the ALATTIS (Accelerated, Large-Area, 10 kV SiC IGBT) program.

Navitas Semiconductor stock is among today's top performers. What's behind the NVTS gains?

Navitas Selected For ALATTIS Program

The U.S. government has selected Navitas to develop next-generation 10 kV silicon carbide (SiC) power semiconductor technology under the ALATTIS program.

The company said it was selected for its leadership in UHV SiC innovation, ability to deliver defense-grade performance and reliability, and U.S.-anchored manufacturing ecosystem.

The ALATTIS prototype project will create, run and validate a new U.S.-based manufacturing process for ultra-high-voltage (10 kV and above) silicon carbide power semiconductors through repeated rounds of design, fabrication and testing.

“This program enables Navitas to extend its leadership beyond SiC MOSFETs by developing next-generation 10 kV SiC IGBTs built on our unique, patented trench-assisted planar (TAP) architecture and integrated with advanced PiN diode technologies,” said Siddarth Sundaresan, SVP and chief technology officer of Navitas.

Navitas Shares Surge

NVTS Price Action: Navitas shares were up 16.03% in after-hours, trading at $13.61 at the time of publication on Monday, according to market data.