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- During the first half of FY22, Weebit Nano (WBT) made key progress on the development and commercialisation of its ReRAM technology
- The tech stock secured its first commercial deal to licensing its ReRAM technology to volume production with US-based semiconductor foundry SkyWater Technology
- Weebit also scaled down its ReRAM tech to 28 nanometres which is important as there’s a strong demand for an efficient non-volatile memory technology at 28nm or below
- Furthermore, Weebit improved its balance sheet with a $35.2 million placement and entitlement offer, leaving it well funded to execute its growth strategies
- Company shares are down 5.37 per cent to trade at $2.82
Weebit Nano (WBT) reportedly achieved a number of key technical and commercial milestones in the first half of FY22.
The computer memory technology company secured its first-ever commercial deal to license and commercialise its resistive random-access memory (ReRAM) technology.
The ReRAM technology is based on fab-friendly silicon oxide and allows semiconductor memory elements to be cheaper, faster, more reliable and more energy-efficient than the existing flash technology. Flash Memory technology is the traditional way information is stored on computers, laptops, tablets, and smartphones.
Weebit signed the deal with US-based semiconductor company SkyWater Technology. The companies are currently progressing the transfer of the ReRAM tech to SkyWater’s US production fabrication plant with the first prototype tapeout on track for completion by mid-year.
Once this is done and the technology is qualified, SkyWater will manufacture the ReRAM technology in its plant and add Weebit’s memory module to its 130-nanometre (nm) Process Design Kit.
SkyWater’s customers who license Weebit’s technology will be able to embed it within new product designs they develop and mass-produce at SkyWater’s fabrication plant.
The company also scaled down its ReRAM tech to 28nm on 300-milimetre wafers with the help of its development partner CEA-Leti.
Weebit said this marked a key step towards commercialisation of embedded Non-Volatile Memory (NVM) as there is a strong demand for an efficient NVM technology at 28nm and below, as embedded flash technology has difficulty scaling down below that parameter.
“We are executing on our commercialisation strategy and are progressing on multiple commercial opportunities with potential partners and customers,” CEO Coby Hanoch said.
“The semiconductor industry is seeing many billions of dollars being invested into new fabs, and the world’s ever-growing need for semiconductor chips now requires a solution to existing Flash technology that is reaching its limitations. Weebit’s embedded ReRAM technology is best placed to deliver on this opportunity.”
In terms of its financials, Weebit Nano reported a net loss of $21.5 million which is almost three times the loss of $7.4 million reported for the prior corresponding period.
Positively however, the tech stock improved its balance sheet with a $35.2 million placement and entitlement offer and also received an extra $8.1 million through the exercising of options.
Weebit ended the half-year period with $47.7 million in cash, leaving it well-funded to execute its growth strategies.
Company shares were down 5.37 per cent to trade at $2.82 at 1:20 pm AEDT.
