Everspin Executes $40M Agreement for Mil-Aero MRAM Applications
Everspin Executes $40M Agreement for Mil-Aero MRAM Applications
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magnetoresistive random access memorytechnical
Magnetoresistive random access memory is a type of computer memory that stores data using tiny magnetic states rather than electric charge, so it keeps information even when power is turned off. Think of each memory cell as a microscopic compass that points one way or another to represent a 0 or 1. It matters to investors because it promises faster, more durable and lower‑power storage that can simplify device designs, reduce costs over time, and disrupt established memory markets.
mramtechnical
MRAM is a type of computer memory that stores data using tiny magnetic bits, so it keeps information even when power is turned off. Think of it as a digital sticky note that stays attached without electricity but can be rewritten quickly and many times. Investors care because MRAM can lower device power use, simplify product design, and offer faster, longer-lasting storage, potentially changing costs and competitive positions across electronics and data-center industries.
toggle mramtechnical
Toggle MRAM is a type of non-volatile computer memory that stores data by flipping tiny magnetic “switches” so each bit stays set even when power is off; writing a bit is done by toggling the magnet’s direction rather than erasing and rewriting like flash. For investors, it matters because toggle MRAM offers fast access, extreme durability and instant data retention, so its adoption affects product performance, manufacturing cost and competitive positioning in the memory and semiconductor markets — like choosing a rugged, always-on notebook instead of one that needs frequent recharging.
foundry servicestechnical
Foundry services are contract manufacturing where a specialized factory produces products or components to another company's designs—most commonly semiconductor chips, but also precision parts in other industries. Investors care because a foundry's profits and cash flow depend on its production capacity, efficiency and long-term customer contracts; like renting a commercial kitchen to different chefs, higher usage and better output quality boost revenue while large equipment needs and supply constraints create risk.
Everspin expands on-shore Toggle MRAM technology capabilities, adding support for U.S. government initiatives
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 an agreement with a U.S. prime contractor to provide state-of-the-art Toggle MRAM process technology capabilities and engineering services for United States Defense Industrial Base customers.
“This work builds on Everspin’s long history supporting U.S. DoW programs where performance, reliability, longevity and U.S. domestic production are critical,” said Sanjeev Aggarwal, President and Chief Executive Officer of Everspin Technologies. “Everspin’s MRAM solutions are used in military and aerospace applications because they deliver consistent performance over time, and this work allows us to continue advancing technology to meet evolving program requirements.”
Under this agreement, Everspin is a subcontractor on an existing Prime Contract that will provide engineering and foundry services for the U.S. Department of War (DoW). Everspin’s recently announced foundry services agreement with Microchip expands its U.S.-based manufacturing capability, which is expected to support future production of these programs. The agreement is valued at an aggregate of $40.0 million over two and a half years.
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, data center, automotive, aerospace and other mission-critical applications where data persistence is essential. Headquartered in Chandler, Arizona, Everspin provides commercially available MRAM solutions to a large and diverse customer base. For more information, visit www.everspin.com. NASDAQ: MRAM.
This press release contains forward-looking statements regarding future events or results. Forward-looking statements are identified by words such as “will,” “expects” or similar expressions and include, but are not limited to, statements regarding Everspin’s anticipated business plans and business strategy. These forward-looking statements are subject to known and unknown risks, uncertainties, assumptions, and other factors that may cause actual results or outcomes to be materially different from any future results or outcomes expressed or implied by the forward-looking statements, including, without limitation, the risks set forth under the caption “Risk Factors” in Everspin’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC on March 5, 2026, as well as in Everspin’s subsequent filings with the SEC. Any forward-looking statements made by Everspin in this press release speak only as of the date on which they are made, and subsequent events may cause these expectations to change. Everspin disclaims any obligations to update or alter these forward-looking statements in the future, whether as a result of new information, future events or otherwise, except as required by law.
