GlobalFoundries already is in the business of etching chips onto silicon wafers, so why would the industry giant join a consortium that could reduce the need for them?

According to industry analyst Risto Puhakka, it could mean future business.

"There may be a foundry opportunity for GlobalFoundries," said Puhakka, president of VLSI Research Inc., headquartered in San Jose, California. "That's a little bit further away than what they're doing today."

GlobalFoundries operates a $10 billion chip factory in Malta, New York. The company is part of a roster of businesses and colleges that are participating in a new research consortium announced last week by Gov. Andrew Cuomo. That $500 million partnership will be housed at the College of Nanoscale Science and Engineering in Albany. One of the key players leading the effort is General Electric, which will invest more than $100 million into research.

The partnership, known as the New York Power Electronics Manufacturing Consortium, will develop silicon carbide computer chips as an alternative to the industry standard, silicon. Officials say the new technology has the potential to be more efficient, lighter and require less cooling than silicon. Here's more on the roster of companies participating in the consortium.

GlobalFoundries is headquartered in Silicon Valley, and operates manufacturing plants in Germany, Singapore and New York. The contract computer chip manufacturer already is part of a separate consortium through the nanocollege involving the largest semiconductor companies in the world. The goal of that consortium, known as Global 450, is to develop a larger silicon wafer than the current standard.

GlobalFoundries spokesman Travis Bullardsaid the company is supporting the new power electronics consortium in a broader sense.

"As silicon reaches its limits, we are keenly interested in advanced materials that will provide the foundation for the lower power, high performance devices of the future," Bullard said.