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Weebit Nano (ASX:WBT) - CEO, Coby Hanoch
CEO, Coby Hanoch
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  • Memory technology designer Weebit Nano (WBT) is teaming up with Chinese tech mogul Dr Richard Chang
  • Dr Richard’s SiEn (QingDao) Integrated Circuits has written up a letter of intent with Weebit
  • Under the letter, the two companies will work out ways to integrated Weebit’s tech into SiEn products
  • The tech in question is known as ReRAM and is designed to be a fast and stable way to store electronic data
  • Today’s agreement does not confirm a future partnership between Weebit and SiEn
  • Still, Weebit shares have gained just over two cents at lunchtime trade, currently worth 44 cents each

Memory tech specialist Weebit Nano (WBT) is teaming up with China-based SiEn (QingDao) Integrated Circuits to test out its data-storage technology.

The companies inked up the early stages of a business partnership with a letter of intent today. Under the letter, Israel-based Weebit will work with SiEn to finds ways to integrate Weebit tech with SiEn products.

The tech in question is Weebit’s Resistive Random-Access-Memory, or “ReRAM”, data storage method. ReRAM is designed to meet the ever-growing need for data storage with the rise of computers, smartphones, tablets, and internet-of-things (IoT) products.

The ReRAM solution

Essentially, most computer systems use a mixture of main memory, or DRAM, and Flash or SSD memory. The problem with these methods, according to Weebit, is that there is always a compromise: DRAM is fast but volatile, while Flash is non-volatile but slow.

ReRAM, Weebit claims, helps tackle these issues alongside a new type of memory called Persistent Memory. The tech combines the speed of DRAM with the stability of Flash and can be embedded into other technologies to provide efficient storage that is easy to produce.

Weebit claims Persistent Memory like ReRAM is 1000 times quicker than Flash and uses 1000 times less power.

ReRAM catching SiEn’s eye

The ability to fuse ReRAM with other tech is at the forefront of the SiEn letter of intent: SiEn’s “Communal Integrated Device Manufacturer” (CIDM) business model is designed to pool together semiconductor companies with similar tech, target markets, and production lines.

Weebit’s ReRAM has the potential to complement SiEn’s tech to provide a competitive edge to the Chinese producer, of which Weebit could reap financial rewards.

In the meantime, Weebit CEO Coby Hanoch said the SiEn partnership is a vote of confidence for Weebit’s tech. He spoke highly of SiEn’s fabrication facility (fab), which is helmed by tech mogul Dr Richard Chang.

“Today there are dozens of fabs under construction in China, but SiEn’s fab is the only one taking the CIDM approach given Richard’s vast experience and knowledge of the market, allowing SiEn to bring together the design and fabrication processes, so instead of working with two separate entities, we can just focus on SiEn,” Coby explained.

Dr Richard shared similar sentiments, saying the company believes Weebit’s tech could be a “perfect fit” for SiEn.

“Weebit has a very impressive board and management team and I had the honour of working with Yoav Nissan-Cohen when I was setting up SMIC,” Dr Richard said.

SMIC, or Semiconductor Manufacturing International Corporation, is China’s largest semiconductor foundry company. Yoav is a Weebit executive director.

Of course, today’s agreement highlights the early stages of a potential partnership — meaning as of yet there is no financial benefit for either company, and there’s a chance nothing more will materialise from the letter of intent.

Nevertheless, Weebit shares have gained slightly today as investors see the potential behind the deal. At midday AEDT, Weebit shares are up 2.33 per cent and worth 44 cents each. The company has a $31.65 million market cap.

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