Presidential Document2026-00248
Regarding the Acquisition of Certain Assets of EMCORE Corporation by HieFo Corporation
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
January 8, 2026
Signed
January 2, 2026
Issuing agencies
Executive Office of the President
Full Text
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<title>Federal Register, Volume 91 Issue 5 (Thursday, January 8, 2026)</title>
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[Federal Register Volume 91, Number 5 (Thursday, January 8, 2026)]
[Presidential Documents]
[Pages 895-898]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-00248]
Presidential Documents
Federal Register / Vol. 91 , No. 5 / Thursday, January 8, 2026 /
Presidential Documents
[[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.
[[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 determined by CFIUS.
(e) At any time prior to or upon CFIUS
communicating in writing to HieFo that the Divestment
is complete, CFIUS is authorized to require auditing of
HieFo, at no expense to CFIUS, on terms it deems
appropriate in order to ensure compliance with this
order and any conditions imposed by CFIUS.
(f) Immediately upon Divestment:
(i) HieFo shall certify in writing to CFIUS that all steps necessary to
fully and permanently effectuate the requirements of subsections (a) and
(b) of this section, including any conditions imposed by CFIUS pursuant to
subsections (b) and (l) of this section, have been completed in accordance
with this order; and
(ii) HieFo shall certify in writing to CFIUS that, as part of the
Divestment, HieFo and its Affiliates have destroyed or transferred all
intellectual property associated with the Emcore Assets in their possession
or control, including copies thereof, that HieFo and its Affiliates are
required to divest pursuant to subsection (b) of this section. CFIUS is
authorized to require auditing of HieFo and its Affiliates, at no expense
to CFIUS, on terms CFIUS deems appropriate in order to ensure that such
destruction or transfer of intellectual property is complete.
(g) HieFo shall not, and shall ensure that its
Affiliates do not, complete a sale or transfer under
this order to any third party:
(i) until HieFo notifies CFIUS in writing of the intended buyer or
transferee; and
(ii) unless 30 calendar days have passed from the notification in
subsection (g)(i) of this section and CFIUS has not issued an objection to
HieFo. Among the factors CFIUS may consider in reviewing the proposed sale
or transfer are whether the buyer or transferee is a United States citizen
or is owned by United States citizens; has or has had a direct or indirect
contractual, financial, familial, employment, or other close and continuous
relationship with HieFo or its Affiliates, or officers or employees of
HieFo or its Affiliates; and can demonstrate a willingness and ability to
support compliance with this order and any conditions imposed by CFIUS. In
addition, CFIUS may consider whether the proposed sale or transfer would
threaten to impair the national security of the United States or undermine
the purpose of this order, and whether the sale effectuates, to CFIUS's
satisfaction and in its discretion, the Divestment.
(h) From the date of this order until HieFo
provides a certification of the Divestment to CFIUS
pursuant to subsection (f) of this section, HieFo shall
certify to CFIUS on a weekly basis that it and its
Affiliates are in compliance with this order and any
conditions imposed by CFIUS and shall include a
description of efforts to effectuate the Divestment and
a timeline for projected completion of remaining
actions.
(i) Any transaction or other instrument entered
into or method employed for the purpose of, or with the
effect of, evading or circumventing this order is
prohibited.
[[Page 897]]
(j) Without limitation on the exercise of authority
by any agency under other provisions of law, CFIUS is
authorized to implement measures it deems necessary and
appropriate to verify and enforce compliance with this
order and any conditions imposed by CFIUS. For purposes
of verifying and enforcing compliance with this order
and any conditions imposed by CFIUS, HieFo shall permit
employees of the United States Government as designated
by CFIUS access, on reasonable notice to HieFo, to all
premises and facilities of HieFo and its Affiliates
located in the United States, including those of the
Emcore Assets:
(i) to inspect and copy any books, ledgers, accounts, correspondence,
memoranda, and other records and documents in the possession or under the
control of HieFo or its Affiliates that concern any matter relating to this
order;
(ii) to inspect or audit any information systems, networks, hardware,
software, data, records, communications, or property in the possession or
under the control of HieFo or its Affiliates that concern any matter
relating to this order; and
(iii) to interview officers, employees, or agents of HieFo, or its
Affiliates, concerning any matter relating to this order.
(k) CFIUS shall conclude its verification
procedures pursuant to subsection (j) of this section
within 90 calendar days after the certification of the
Divestment is provided to CFIUS pursuant to subsection
(f) of this section and shall communicate in writing to
HieFo when it has found that the Divestment is
complete.
(l) Without limitation on the exercise of authority
by any agency under other provisions of law, and until
such time as the Divestment is completed and verified
to the satisfaction of CFIUS, CFIUS is further
authorized to impose conditions or implement measures
in connection with this order, the Divestment, and the
Transaction as it deems necessary and appropriate to
mitigate risk to the national security of the United
States arising from the Transaction, including measures
available to it under section 721 and its implementing
regulations, which include the remedies available for
violations of any order, agreement, or condition
entered into or imposed under section 721.
(m) If any provision of this order, or the
application of any provision to any person or
circumstances, is held by a court of competent
jurisdiction to be invalid, the remainder of this order
and the application of its other provisions to any
persons or circumstances shall not be affected thereby.
If any provision of this order, or the application of
any provision to any person or circumstances, is held
by a court of competent jurisdiction to be invalid
because of the lack of certain procedural requirements,
the relevant executive branch officials shall implement
those procedural requirements.
(n) The Attorney General is authorized to take any
steps pursuant to section 721(d)(3) necessary to
enforce this order.
(o) Any deadline or time limitation under this
order imposed on CFIUS shall be tolled during a lapse
in appropriations.
Sec. 3. Reservation. I hereby reserve my authority to
issue further orders with respect to the Transaction as
shall in my judgment be necessary to protect the
national security of the United States.
[[Page 898]]
Sec. 4. Publication and Transmittal. (a) This order
shall be published in the Federal Register.
(b) I hereby direct the Secretary of the Treasury
to transmit a copy of this order to the appropriate
parties named in section 1 of this order.
(c) The costs for publication of this order shall
be borne by the Department of the Treasury.
<GRAPHIC(S) NOT AVAILABLE IN TIFF FORMAT>
(Presidential Sig.)
THE WHITE HOUSE,
January 2, 2026.
[FR Doc. 2026-00248
Filed 1-7-26; 11:15 am]
Billing code 4810-25-P
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</html>Indexed from Federal Register on January 8, 2026.
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