EnSilica PLC US$7m e-mobility sensor ASIC supply contract win (2265M)
13 September 2023 - 4:00PM
UK Regulatory
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RNS Number : 2265M
EnSilica PLC
13 September 2023
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the UK Market Abuse Regulation
13 September 2023
EnSilica plc
("EnSilica", the "Company" or the "Group")
EnSilica awarded sensor ASIC supply contract for the e-mobility
market worth in excess of US$7 million
EnSilica, a leading chip maker of mixed signal ASICs
(Application Specific Integrated Circuits), is pleased to announce
that it has been awarded an ASIC supply contract for a sensor ASIC
to address the e-mobility market (the "Contract").
The Contract is for the design and supply of a mixed signal
sensor ASIC for the e-mobility market encompassing electric
vehicles (EVs), electric two wheelers, e-bikes, and e-scooters.
Based on the volume commitments by the customer, the Contract will
be worth in excess of US$7 million over the first five years of
supply.
The majority of the NRE (non-recurring engineering) design
element of the Contract will be completed in this financial year
and will be fully funded by the customer. Production, manufacturing
and supply is expected to begin in the middle of 2025 and run for
at least five years.
The global e-mobility market is projected to grow at a compound
annual growth rate of just over 14 percent from 2023 to 2030,
growing from $130 billion to reach approximately $325 billion by
2030([1]) . This rise in demand has prompted significant innovation
across the sector to improve range, safety features, and ride
experience. To remain competitive, many component manufacturers are
opting to develop ASICs to differentiate their products,
representing a significant growth opportunity for custom ASIC
design specialists like EnSilica.
Ian Lankshear, Chief Executive Officer of EnSilica plc,
commented:
"We are pleased to announce this new supply contract in a key
growth market undergoing significant innovation and adoption
globally. The technological demands across the e-mobility market
are similar to those of the automotive market, and we look forward
to capitalising on our proven automotive expertise to further
expand our market reach."
([1])
https://www.grandviewresearch.com/industry-analysis/electric-mobility-market:
For further information please contact:
EnSilica plc Via Vigo Consulting
Ian Lankshear, Chief Executive Officer +44 (0)20 7390 0233
www.ensilica.com
Allenby Capital Limited, Nominated Adviser +44 (0)20 3328 5656
& Broker info@allenbycapital.com
Jeremy Porter / Vivek Bhardwaj (Corporate
Finance)
Joscelin Pinnington / Tony Quirke (Sales
& Corporate Broking)
Vigo Consulting (Investor & Financial Public +44 (0)20 7390 0233
Relations) ensilica@vigoconsulting.com
Jeremy Garcia / Kate Kilgallen
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 Bangalore, India and
Porto Alegre, Brazil.
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