Weebit Nano secures major deal with onsemi for ReRAM tech

Weebit Nano has announced a major commercial agreement with semiconductor company, onsemi, marking a significant milestone for the technology firm.

Weebit Nano's Resistive RAM (ReRAM) technology will be licensed to onsemi, integrating into the latter's Treo platform, which operates with a Bipolar CMOS, DMOS (BCD) process, providing an embedded non-volatile memory (NVM) solution. The deal allows Weebit to receive revenues from licensing, non-recurring engineering fees, and royalties based on production volumes, with the agreement set to be long-term due to the lifespan of onsemi's products.

Weebit Nano CEO Coby Hanoch commented on the agreement, stating: "Weebit has further cemented its position as the leading independent provider of ReRAM through the licensing of its technology to onsemi, one of the world's top semiconductor companies. Sealing a licensing deal with a company the calibre of onsemi, an S&P 500/NASDAQ100 company and a leader in power solutions for broad industries, reflects the industry's realisation that Weebit ReRAM is the best form of non-volatile memory in the market. The teams have initiated the project on multiple fronts, including technology transfer and design."

He further added that this collaboration is assisting in discussions with other potential customers interested in licensing Weebit's ReRAM IP. "The onsemi collaboration is also helping in our discussions with other potential customers to license out our ReRAM IP, as it shows that major players in the space are embracing ReRAM as the preferred non-volatile memory solution," said Hanoch.

Weebit Nano's recent $50 million capital raise has left it well-funded, with a cash balance of $97 million at the end of December 2024. The capital raise was conducted at a 6.5% premium to the 5-day volume-weighted average price (VWAP), supported by both new and existing institutional investors. This transaction aims to enable the company to close more commercial deals and continue investing in research and development.

In addition to its financial reporting, Weebit Nano has expanded its board with the appointment of Anne Templeman-Jones as Non-Executive Director. Ms Templeman-Jones is expected to bring extensive experience in corporate governance, finance, and enterprise risk management to the company.

Addressing the board appointment, Hanoch remarked: "The appointment of Ms Anne Templeman-Jones as Non-Executive Director further bolsters the Board, adding deep knowledge and experience across corporate governance, finance, and enterprise risk management."

In terms of intellectual property, Weebit Nano was granted four new patents linked to its ReRAM technology during the quarter, which includes unique techniques designed to reduce the die area of the ReRAM module and improve its reliability.

The company's ReRAM technology is also progressing towards qualification for mass production at DB HiTek, with completion anticipated in 2025. This development is targeted for deployment in various applications, including internet-of-things, consumer, and industrial uses.

Weebit Nano remains active in the industry, participating in key conferences, including the ICCAD in Shanghai and CES in Las Vegas, where it showcased its technology advancements and engaged with potential customers and investors.

The company is advancing commercial discussions with multiple foundries, integrated device manufacturers, and product companies, with expectations to finalise several agreements in 2025. These initiatives are part of Weebit Nano's commitment to achieving its milestones by the end of the 2025 calendar year.