Semiconductor IP company Weebit Nano [ASX:WBT], creator of design and fabrication of semiconductors and semiconductor devices, has now hit a commercial milestone for its ReRAM module, now available through SkyWater Technology’s S130 process.
WBT’s share price was marching upwards by more than 4% after its update earlier today, trading for around $5.34 at the time of writing.
Over the past 12 months the semiconductor group’s stock has surged 97%, and its risen 7.5% in the last month alone.
Compared with the wider market, the stock is performing strongly at an 87% gain, and is performing even better within its own sector:
Source: TradingView
Weebit’s commercial ReRAM, fab, customers, and funds
Via its activity report for the March quarter, Weebit advertised a new milestone for its ReRAM software journey, with its module now commercially available in SkyWater Technology’s S130 process.
The ReRAM module has passed all relevant qualification processes with SkyWater and is already on track for launch mid-year.
Weebit’s first ReRAM technology became commercially available for SkyWater customers last month, making it easier to integrate Weebit ReRAM IP in system-on-chip (SoC) designs for mixed-signal, IoT, automotive, industrial, medical, and aerospace applications.
During the quarter, Weebit confirmed its ReRAM arrays are tolerant to high radiation levels as part of a study with the University of Florida’s Nino Research Group (NRG) and CEA-Leti.
The demo chips are now going through the qualification process, due to finish by the first half of the year.
The group also wished to list some of its other highlights that have taken place in the latest quarter, such as the taping-out of its first demo chip for GlobalFoundries’ advanced 22nm silicon insulator (FD-SOI) process, also known as 22FDX.
This process is one of the industry’s most common and popular, known for its fine balance between power consumption, performance, and cost.
Mike Hogan of GlobalFoundries commented:
‘The work Weebit and CEA-Leti are doing to make Weebit ReRAM available on GlobalFoundries’ 22FDX is a welcome development as we continue to expand the ecosystem around this platform. Embedded NVM is a key element of our customers’ designs, but since embedded flash is difficult to scale below 28nm, many customers are looking to NVM solutions such as embedded ReRAM.’
Weebit is currently in varying stages of discussion with world-leading foundries and IDMS, hoping to satisfy technical requirements, and a licensing agreement with a Tier 1 foundry/IDM could soon become official.
Weebit has gained about $60 million in a recent capital raising, which it hopes will accelerate the commercial rollout of the embedded ReRAM and fund additional technology development.
At the end of Q3 FY23, Weebit had a cash balance of $79 million (excluding $15 million in SPP proceeds to be finalised this month).
Commenting on Q3 FY23, Weebit’s CEO Coby Hanoch said:
‘It has been a productive quarter for Weebit Nano with significant progress delivered on all fronts. We enter Q4 on the cusp of commercialisation with our first ReRAM module now commercially available, qualification with SkyWater Technology on track for mid-year, a strong balance sheet, and discussions underway with the majority of the world’s leading foundries and integrated device manufacturers (IDMs).’
WBT will continue to invest in longer-term opportunities, including solutions for the discrete memory market.
WBT will use its own products while working towards longer-term development and commercialisation of the selector technology, gaining a large market opportunity, and diversifying revenue streams.
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Regards,
Mahlia Stewart,
For Money Morning
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