Weebit Nano Ltd Provides Update on Second Technology Transfer to DB HiTek

Weebit Nano Ltd, a leading developer of advanced semiconductor memory technology, has announced the commencement of its second technology transfer to DB HiTek, a global top-10 foundry based in South Korea. The company’s CEO, Coby Hanoch, expressed excitement about the new partnership and ongoing negotiations with partners and customers.

The licensing agreement with DB HiTek includes technology transfer and qualification, which has already begun. Under the agreement, DB HiTek will be able to manufacture Weebit ReRAM as embedded non-volatile memory in designs from its global customers. This will allow Weebit’s innovative ReRAM technology to be integrated into a wide range of consumer, industrial, and IoT devices.

Weebit Nano also achieved a significant milestone by successfully qualifying its embedded ReRAM module at higher temperatures on Leti wafers, demonstrating the technology’s suitability for automotive grade temperatures. This qualification opens up new opportunities for Weebit’s ReRAM technology in automotive, industrial, and IoT applications.

In addition to the partnership with DB HiTek, Weebit Nano continues to make progress in its negotiations with other leading foundries, IDMs, and semiconductor companies. The company’s management team has been actively engaging with industry conferences and investment events to showcase the potential of its ReRAM technology.

With a strong cash balance of A$84 million as of September 30, 2023, Weebit Nano is well-positioned to achieve its upcoming milestones, including generating initial revenues, signing additional customer agreements, and qualifying its technology at automotive grade temperatures.

The company’s recent addition of experienced entrepreneur Naomi Simson to its Board further strengthens its governance credentials and positions Weebit Nano for continued growth and success in the semiconductor memory market.