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Weebit Nano Ltd

Weebit Nano shares ride higher after achieving another memory technology milestone

The company’s shares are trading about 27% higher intra-day, at 5.7 cents.

memory chip
Moving closer to commercialisation

Weebit Nano (ASX:WBT) has produced the first packaged units containing memory arrays based on its Silicon Oxide Resistive RAM (SiOx ReRAM) technology.

These have been packaged into devices known as chips, allowing Weebit to ship its memory technology to partners who can then start working with them.

This is an important step in Weebit’s productisation and commercialisation effort as it enables further testing and refining of the company’s memory technology.

 

The first memory chips will be delivered to universities to research the use of ReRAM technology in neuromorphic computing, which is used in the development of artificial intelligence.

Until now, testing of Weebit’s technology was solely conducted at wafer level in the lab adjacent to the production line at Leti, the company’s production partner in France.

As testing has progressed, Weebit is now extracting memory arrays from wafers and packaging them into packaged devices – the form in which memory chips are used by customers in phones, PCs or storage devices.

This allows the company to conduct additional tests outside the lab, and partners to use them in their facilities.

READ: Weebit Nano shares surge on crossing a milestone in memory technology

Weebit chief executive officer Coby Hanoch said: “We are continuing to make good progress improving the quality of our memory technology in preparation for its use in commercial products.

“This next step towards commercialisation enables partners to use our memory chips in their facilities, and importantly allows them to evaluate our technology as part of their decision process to engage with us.

“Furthermore, we are very excited that some of these initial packaged chips will be used by universities to research neuromorphic computing, a key element in the development of machine learning and artificial Intelligence systems.”

Quick facts: Weebit Nano Ltd

Price: $0.44

Market: ASX
Market Cap: $27.69 m
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