5N Plus shares rose Tuesday morning after the company said it plans to expand its Utah facility by about half to grow its advanced materials capabilities for broader applications.

Shares traded 6.2% higher at 29.38 Canadian dollars ($18.79).

The producer of specialty semiconductors and performance materials said it will expand its St. George facility footprint by about 50% with the aim of providing a capital-efficient and scalable platform to cater to more applications in defense, space solar, medical imaging and industrial sensing.

The St. George facility transforms various minerals such as germanium and cadmium zinc telluride, into high-value semiconductor materials, wafers, substrates and selected components.

The company noted that the move is also part of a broader push to bolster North American supply chains for critical minerals.

The larger facility is expected to improve site workflows and install new equipment that will allow the company to grow the operations, increase capacity, as well as expand its team of engineers and materials scientists.

The expansion project follows two recent U.S. government awards to support capabilities being developed in St. George over the coming years, as well partnerships with U.S defense customers, the company noted.

Construction is scheduled to break ground in the third quarter of this year and reach completion by the second half of 2027.