Join our daily newsletter At The Bell to receive exclusive market insights
- Weebit Nano (WBT) shares are in the green following the company’s first commercial deal for its ReRAM technology in a “milestone” agreement
- Weebit has penned a deal with SkyWater Technology Inc which will see the companies take the technology to volume production by the end of 2022
- Under the agreement, SkyWater will receive a non-exclusive licence to Weebit’s ReRAM technology and will pay Weebit a licence fee, with a minimum term of six years
- Weebit Nano is up 35.1 per cent, trading at $3.81 at noon AEST
Weebit Nano (WBT) shares are in the green following its first commercial deal to take its ReRAM technology to volume production.
Weebit has penned a deal with a subsidiary of semiconductor foundry SkyWater Technology Inc, which it says provides validation of its technology.
Under the transfer and qualification agreement, the companies will co-operate to transfer Weebit’s embedded ReRAM technology to SkyWater’s production fabrication plant and qualify it, aiming for volume production by the end of 2022.
SkyWater is a US-based technology company, specialising in advanced innovation engineering services, which assists customers to develop and manufacture integrated circuits in the aerospace, defence, automotive, computing and medical markets.
Under the technology licensing agreement, SkyWater will receive a non-exclusive licence to Weebit’s ReRAM technology and will pay Weebit a licence fee. The partnership includes both technology transfer and qualification, and licensing agreement, with a minimum term of six years and 12 month renewals after the seventh year.
SkyWater has vowed to dedicate a significant amount of time and resources to support the commercialisation of Weebit’s technology. Weebit and SkyWater have also agreed to collaborate for the sales and marketing of the product.
CEO of Weebit Nano Coby Hanoch said the company’s first commercial deal was a major milestone.
“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,” Mr Hanoch said.
Weebit Nano shares were up 35.1 per cent, trading at $3.81 at noon AEST.
