REG - EnSilica PLC - Industrial ASIC Supply Project Award

EnSilicaAnnouncement

25/07/2022 07:00

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RNS Number : 5238T  EnSilica PLC  25 July 2022

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the UK Market Abuse
Regulation

 

 

EnSilica plc

("EnSilica", the "Company" or the "Group")

 

Successful tender for significant industrial ASIC supply project

 

Supply project is worth in excess of US$30 million over 7 years

 

EnSilica, a leading chip maker of mixed signal ASICs (Application Specific
Integrated Circuits), is pleased to announce that it has won a tender for a
significant ASIC supply project for a leading European industrial Original
Equipment Manufacturer ("OEM") (the "Award"). The Award is subject to contract
being finalised in line with the principal terms agreed before the tender.

 

The Award is for the design and supply of an ASIC for industrial and factory
automation products and based on projected volumes by the customer, is worth
in excess of US$30 million over seven years.

 

The EnSilica management believe that the Company's commitment to excellence
throughout all its procedures and processes made it the prime choice for this
Award given the high-quality standards required by the customer.

 

The NRE design part of the Award is expected to commence this year and will be
fully funded by the customer. Production and supply is expected to start at
the end of calendar year 2024.

 

The industrial and automotive markets typically have 7 to 10-year project
lifecycles for ASICs, with both markets requiring similar stringent device
qualification and quality requirements. This Award helps to underpin
EnSilica's position as a leading European ASIC supplier for these markets.

 

Ian Lankshear, Chief Executive Officer of EnSilica plc, commented:

 

"The successful tender and subsequent award of this significant ASIC supply
project is a great achievement for EnSilica. Obtaining preferred supplier
status from this quality focused OEM is a credit to our team, and this has
culminated in this highly prestigious project Award.

 

"This supply project is the first Award of what we hope will be a long and
mutually rewarding partnership, supporting a large user of ASICs across its
established global industrial and factory automation product lines."

 

For further information please contact:

 

 EnSilica plc                                                      Via Vigo Consulting

 Ian Lankshear, Chief Executive Officer                            +44 (0)20 7390 0233

 Matthew Wethey, Chief Financial Officer

 www.ensilica.com (http://www.ensilica.com/)

 Allenby Capital Limited, Nominated Adviser & Broker                +44 (0)20 3328 5656

 Jeremy Porter / Vivek Bhardwaj (Corporate Finance)                info@allenbycapital.com

 Joscelin Pinnington/Tony Quirke (Sales & Corporate Broking)

 Vigo Consulting (Investor & Financial Public Relations)           +44 (0)20 7390 0233 ensilica@vigoconsulting.com

                                                                 (mailto:visum@vigoconsulting.com)
 Jeremy Garcia / Tara Benniman

 

About EnSilica

 

EnSilica is a leading fabless design house focused on custom ASIC design and
supply for OEMs and system houses, as well as IC design services for companies
with their own design teams. The company has world-class expertise in
supplying custom RF, mmWave, mixed signal and digital ICs to its international
customers in the automotive, industrial, healthcare and communications
markets. The company also offers a broad portfolio of core IP covering
cryptography, radar, and communications systems. EnSilica has a track record
in delivering high quality solutions to demanding industry standards. The
company is headquartered near Oxford, UK and has design centres across the UK
and in India and Brazil.

 

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