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Weebit soars on first commercial deal

Weebit Nano the developer of next-generation semiconductor memory technologies, announced that it has entered into its first commercial deal, with a subsidiary of SkyWater Technology Inc, the US$1.3 billion Nasdaq listed semiconductor foundry.

Weebit stated that its first commercial deal is a critical milestone for the company, providing commercial validation of Weebit’s ReRAM technology and commencing the growth trajectory for the company’s cutting-edge technology onto customers’ chips.

SkyWater is a US-based and US-owned, US Department of Defense accredited pure play technology foundry, specialising in advanced innovation engineering services and volume manufacturing of a wide variety of differentiated integrated circuits (ICs). SkyWater supports customers developing and manufacturing ICs in various markets including aerospace and defence, automotive, computing and cloud, consumer, industrial, and medical.

The company’s agreement with SkyWater will take Weebit’s innovative ReRAM technology to volume production via a license to SkyWater to manufacture customer designs containing Weebit’s technology, once the technology has been qualified in SkyWater’s production fab. Weebit and SkyWater will also cooperate in marketing and sales activities. The partnership includes both technology transfer and qualification, and licensing agreements.

Under the technology transfer and qualification agreement, Weebit and SkyWater will immediately cooperate in transferring Weebit’s embedded ReRAM technology to SkyWater’s production fab and then continue to qualify it, aiming for volume production by the end of 2022.

Under the technology licensing agreement, SkyWater receives a non-exclusive license to Weebit’s ReRAM technology, and will pay Weebit a license fee that is not material for Weebit based on the achievement of agreed-upon milestones. SkyWater intends to add Weebit’s qualified memory module to its 130nm Process Design Kit. It has a minimum term of six years with 12 month renewals after the seventh year, and includes customary termination events.

Customers will have the option of using the standard modules in the PDK or have customised modules tailored for their needs. In either case, Weebit will receive license fees and royalties based on production volumes, with these license fees and royalties determined by Weebit when delivering the relevant modules to customers and may differ for each module.

The agreements currently cover SkyWater’s 130nm Complementary Metal-Oxide-Semiconductor process, which covers a broad range of applications such as analog, power management, automotive and IoT designs, where Weebit’s ReRAM technology provides competitive advantages, including better retention and endurance than existing embedded Flash technology.

Coby Hanoch, CEO of Weebit Nano, said: “Weebit’s first commercial deal is a major milestone for our Company, providing validation of our innovative technology. It enables us to bring Weebit’s cutting-edge ReRAM technology to volume production by offering it to SkyWater’s extensive customer base, in addition to customers Weebit will sign up and bring to SkyWater, putting us firmly on the path of initial and ongoing revenues."

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