Weebit Nano has solidified its position in the semiconductor memory sector by signing a major licensing agreement with onsemi and raising A$50 million in capital. The company is well-funded and advancing multiple commercial and technical milestones.
- Signed pivotal ReRAM licensing deal with semiconductor giant onsemi
- Raised A$50 million at a 6.5% premium, boosting cash reserves to A$97 million
- Progressing qualification of ReRAM technology at DB HiTek, expected in 2025
- Appointed experienced Non-Executive Director Anne Templeman-Jones to strengthen governance
- Ongoing discussions with multiple fabs and product companies aiming for further licensing agreements
A Landmark Licensing Agreement with onsemi
Weebit Nano Ltd (ASX: WBT) has taken a significant step forward in commercialising its Resistive RAM (ReRAM) technology by signing a major licensing agreement with onsemi (NASDAQ: ON), a leading global semiconductor supplier. This deal marks a critical validation of Weebit's technology, positioning it as a preferred non-volatile memory (NVM) solution within the industry.
Under the agreement, Weebit's ReRAM IP will be integrated into onsemi's Treo platform, a Bipolar CMOS, DMOS (BCD) process, enabling embedded NVM that is cost-effective, low-power, and capable of strong retention at high temperatures. As an integrated device manufacturer (IDM), onsemi's ability to manufacture its own products accelerates the timeline to mass production, promising earlier royalty streams for Weebit.
Robust Capital Raise Strengthens Financial Position
Complementing this commercial milestone, Weebit successfully raised A$50 million through a placement priced at a 6.5% premium to the five-day volume-weighted average price (VWAP). This capital injection has increased the company's cash balance to approximately A$97 million as of 31 December 2024, providing a strong financial foundation to support ongoing R&D and commercialisation efforts.
The capital raise was well supported by both new and existing institutional investors, reflecting confidence in Weebit's growth trajectory and the market potential of its ReRAM technology.
Advancing Technology Qualification and Patent Portfolio
Weebit is progressing the qualification of its ReRAM technology at DB HiTek, a semiconductor manufacturer serving blue-chip clients across IoT, consumer, and industrial sectors. Initial wafer testing has commenced, with qualification expected to complete in 2025. This milestone is critical for enabling mass production and expanding Weebit's licensing footprint.
During the quarter, Weebit was granted four new patents related to its ReRAM technology, including innovations that reduce die area and enhance reliability. The company now holds over 80 patents and patent applications, underscoring its commitment to protecting and advancing its intellectual property.
Strengthening Governance and Industry Presence
In a strategic move to bolster its board, Weebit appointed Anne Templeman-Jones as a Non-Executive Director. Ms Templeman-Jones brings extensive experience in corporate governance, finance, and enterprise risk management, having served on boards of major Australian companies and institutions.
Weebit also maintained a strong presence at key industry events, including the ICCAD conference in Shanghai and the Consumer Electronics Show (CES) in Las Vegas. These engagements have helped raise the company's profile and fostered positive feedback from potential customers and investors alike.
Looking Ahead: Multiple Licensing Deals and Commercial Milestones
CEO Coby Hanoch emphasized that the onsemi deal is just the first of several licensing agreements Weebit aims to secure by the end of 2025. The company targets three new licensing agreements with fabs and three with product companies, alongside completing the DB HiTek qualification. These milestones are tied to performance rights for management, aligning incentives with commercial success.
With a well-capitalised balance sheet and a validated technology platform, Weebit is poised to accelerate its commercialisation efforts and expand its footprint in the growing non-volatile memory market.
Bottom Line?
Weebit's strategic partnerships and strong capital position set the stage for a transformative 2025 in ReRAM commercialization.
Questions in the middle?
- How quickly will Weebit convert ongoing discussions into binding licensing agreements?
- What specific products will first integrate Weebit's ReRAM via onsemi's Treo platform?
- How will the new board appointment influence Weebit's strategic direction and risk management?