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Everspin Announces a $9.25M Contract to Provide MRAM Technology for Strategic Radiation Hardened eMRAM Macro

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Everspin Technologies (NASDAQ: MRAM) has secured a strategic contract with Frontgrade Technologies to provide PERSYST MRAM technology for developing radiation-hardened eMRAM macros. The contract, potentially worth up to $9.25 million over multiple years, supports Department of Defense and commercial space system requirements. The initial phase is valued at $1.25 million.

The project will utilize Skywater RH90 CMOS in Bloomington, Minnesota, and Everspin's back-end-of-line MRAM process in Chandler, Arizona. This collaboration expands MRAM's applications in defense and aerospace radiation-hardened use cases, building on Everspin's decade-long relationship with Frontgrade Technologies.

Everspin Technologies (NASDAQ: MRAM) ha ottenuto un contratto strategico con Frontgrade Technologies per fornire la tecnologia PERSYST MRAM per lo sviluppo di macro eMRAM resistenti alle radiazioni. Il contratto, dal valore potenziale di 9,25 milioni di dollari su più anni, supporta i requisiti del Dipartimento della Difesa e dei sistemi spaziali commerciali. La fase iniziale è valutata 1,25 milioni di dollari.

Il progetto utilizzerà Skywater RH90 CMOS a Bloomington, Minnesota, e il processo MRAM di Everspin nella fase di retrocessione a Chandler, Arizona. Questa collaborazione amplia le applicazioni dell'MRAM nei casi d'uso resistenti alle radiazioni per la difesa e l'industria aerospaziale, basandosi su un rapporto decennale tra Everspin e Frontgrade Technologies.

Everspin Technologies (NASDAQ: MRAM) ha conseguido un contrato estratégico con Frontgrade Technologies para proporcionar tecnología PERSYST MRAM para el desarrollo de macros eMRAM resistentes a la radiación. El contrato, con un valor potencial de hasta 9.25 millones de dólares durante varios años, apoya los requisitos del Departamento de Defensa y de los sistemas espaciales comerciales. La fase inicial está valorada en 1.25 millones de dólares.

El proyecto utilizará Skywater RH90 CMOS en Bloomington, Minnesota, y el proceso de MRAM de Everspin en Chandler, Arizona. Esta colaboración amplía las aplicaciones de MRAM en los casos de uso resistentes a la radiación en defensa y aeroespacial, basándose en una relación de más de diez años entre Everspin y Frontgrade Technologies.

Everspin Technologies (NASDAQ: MRAM)는 방사선 내성이 강한 eMRAM 매크로 개발을 위해 Frontgrade Technologies와 전략적 계약을 체결했습니다. 이 계약은 여러 해에 걸쳐 9.25백만 달러에 이를 수 있는 잠재적 가치가 있으며, 국방부 및 상업 우주 시스템 요구 사항을 지원합니다. 초기 단계는 1.25백만 달러로 평가됩니다.

이 프로젝트는 미네소타주 블룸링턴에서 Skywater RH90 CMOS를 활용하고, 애리조나주 챈들러에서 Everspin의 후공정 MRAM 프로세스를 사용할 것입니다. 이 협업은 Everspin과 Frontgrade Technologies 간의 10년 이상 관계를 바탕으로 방사선 내성 분야에서 방위 및 항공 우주에 MRAM의 응용을 확장합니다.

Everspin Technologies (NASDAQ: MRAM) a sécurisé un contrat stratégique avec Frontgrade Technologies pour fournir la technologie PERSYST MRAM en vue de développer des macros eMRAM résistantes aux radiations. Le contrat, d'une valeur potentielle allant jusqu'à 9,25 millions de dollars sur plusieurs années, soutient les exigences du Département de la Défense et des systèmes spatiaux commerciaux. La phase initiale est évaluée à 1,25 million de dollars.

Le projet utilisera le Skywater RH90 CMOS à Bloomington, Minnesota, et le processus MRAM de Everspin à Chandler, Arizona. Cette collaboration élargit les applications de MRAM dans les cas d'utilisation résistants aux radiations pour la défense et l'aérospatiale, s'appuyant sur la relation de plus de dix ans entre Everspin et Frontgrade Technologies.

Everspin Technologies (NASDAQ: MRAM) hat einen strategischen Vertrag mit Frontgrade Technologies abgeschlossen, um PERSYST MRAM-Technologie für die Entwicklung von strahlenfesten eMRAM-Makros bereitzustellen. Der Vertrag hat ein potenzielles Volumen von bis zu 9,25 Millionen Dollar über mehrere Jahre und unterstützt die Anforderungen des Verteidigungsministeriums und gewerblicher Weltraumsysteme. Die Anfangsphase ist mit 1,25 Millionen Dollar bewertet.

Das Projekt wird Skywater RH90 CMOS in Bloomington, Minnesota, und den Back-End-MRAM-Prozess von Everspin in Chandler, Arizona, nutzen. Diese Zusammenarbeit erweitert die Anwendungen von MRAM in strahlenfesten Einsatzbereichen in der Verteidigung und der Luft- und Raumfahrt und baut auf der über zehnjährigen Beziehung zwischen Everspin und Frontgrade Technologies auf.

Positive
  • Secured a strategic contract worth up to $9.25 million over multiple years
  • Initial phase valued at $1.25 million
  • Expands MRAM applications in defense and aerospace sectors
  • Supports Department of Defense and commercial space system requirements
  • Utilizes domestic production facilities in Minnesota and Arizona
Negative
  • Full contract value dependent on successful performance and U.S. government discretion

Insights

Everspin's $9.25M contract with Frontgrade Technologies marks a significant milestone in the advancement of MRAM technology for aerospace and defense applications. The development of a Strategic Radiation Hardened (SRH) high-reliability eMRAM macro addresses a critical need in the industry for robust, radiation-resistant memory solutions. This collaboration leverages Everspin's PERSYST MRAM technology, potentially opening new avenues for MRAM in radiation-hardened use cases.

The project's domestic production focus, utilizing Skywater's RH90 CMOS and Everspin's back-end-of-line process, aligns with the growing emphasis on secure, U.S.-based semiconductor manufacturing. This could position Everspin favorably in the strategic defense electronics market, potentially leading to long-term growth opportunities and increased market share in this specialized sector.

The $9.25M contract represents a significant revenue opportunity for Everspin Technologies, with an initial phase valued at $1.25M. While the full contract value is contingent on successful performance and government discretion, it provides a solid foundation for potential future growth. This multi-year agreement could contribute to more stable and predictable revenue streams, enhancing Everspin's financial outlook.

Investors should note that this contract not only brings immediate financial benefits but also positions Everspin as a key player in the high-reliability, radiation-hardened memory market. Success in this niche could lead to additional contracts and partnerships, potentially driving long-term value creation. However, the phased nature of the contract and dependence on government funding introduce some uncertainty, which should be factored into investment decisions.

This contract signifies a growing demand for advanced, radiation-hardened memory solutions in aerospace and defense sectors. Everspin's MRAM technology offers unique advantages for space applications, including non-volatility, radiation resistance and high endurance. These characteristics are important for the harsh environments encountered in space missions and strategic defense systems.

The collaboration between Everspin and Frontgrade Technologies could accelerate the adoption of MRAM in next-generation spacecraft and satellite designs. As space exploration and defense initiatives continue to expand, the market for specialized, high-reliability components is likely to grow. Everspin's involvement in this project could position them as a preferred supplier for future space and defense programs, potentially leading to a significant expansion of their market presence in these high-value sectors.

Everspin PERSYST MRAM technology will be used for the development of the domestic production of electronics for aerospace and defense

CHANDLER, Ariz.--(BUSINESS WIRE)-- Everspin Technologies, Inc. (NASDAQ: MRAM), the world’s leading developer and manufacturer of Magnetoresistive Random Access Memory (MRAM) persistent memory solutions, today announced a new strategic contract with Frontgrade Technologies. Under the contract, Everspin will provide its innovative PERSYST MRAM technology, logic design, and back-end-of-line manufacturing services to advance the development and demonstration of a Strategic Radiation Hardened (SRH) high-reliability eMRAM macro for use in future products by Frontgrade.

“Everspin is pleased to work with Frontgrade on a custom Radiation Hardened Spin Transfer Torque MRAM program,” said Sanjeev Aggarwal, President Technologies and CEO of Everspin Technologies. “Extending our decade-long relationship to next-generation MRAM, this project will expand MRAM’s use and availability to more defense and aerospace radiation-hardened use cases.”

This initiative supports both current and future Department of Defense (DoD) strategic and commercial space system requirements. It will be manufactured using Skywater RH90 CMOS in Bloomington, Minnesota and Everspin’s back-end-of-line MRAM process in Chandler, Arizona. The contract allows for phases totaling up to $9.25 million for Everspin Technologies over multiple years. The current phase with Everspin Technologies is valued at approximately $1.25 million. Upon successful performance of this phase, and at the discretion of the U.S. government, the contract allows for award of future optional phases.

About Everspin Technologies

Everspin Technologies, Inc., is the world’s leading provider of Magnetoresistive RAM (MRAM). Everspin MRAM delivers the industry’s most robust, highest-performance, non-volatile memory for Industrial IoT, Data Centers, and other mission-critical applications where data persistence is paramount. Headquartered in Chandler, Arizona, Everspin provides commercially available MRAM solutions to a large and diverse customer base. For more information, visit www.everspin.com.

Agency Contact:

Kiterocket

Stephanie Quinn

T: 480-316-8370

E: squinn@kiterocket.com

Source: Everspin Technologies, Inc.

FAQ

What is the value of Everspin's new contract for MRAM technology?

Everspin Technologies (MRAM) has secured a contract worth up to $9.25 million over multiple years, with the initial phase valued at $1.25 million.

Who is Everspin's partner in this MRAM technology contract?

Everspin Technologies is partnering with Frontgrade Technologies for this strategic contract to develop radiation-hardened eMRAM macros.

What is the purpose of the MRAM technology being developed under this contract?

The MRAM technology will be used for developing Strategic Radiation Hardened (SRH) high-reliability eMRAM macros for defense and aerospace applications, supporting Department of Defense and commercial space system requirements.

Where will the MRAM technology for this contract be manufactured?

The technology will be manufactured using Skywater RH90 CMOS in Bloomington, Minnesota, and Everspin's back-end-of-line MRAM process in Chandler, Arizona.

Everspin Technologies, Inc

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