REG - EnSilica PLC - £10.38 million UK Space Agency Award

EnSilicaAnnouncement

03/02/2025 07:00

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RNS Number : 5301V  EnSilica PLC  03 February 2025

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

 

3 February 2025

 

EnSilica plc

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

 

£10.38 million UK Space Agency Award

 

Advances EnSilica's chip development for the next generation of satellite
broadband hardware

 

EnSilica (AIM: ENSI), a leading chip maker of mixed signal ASICs (Application
Specific Integrated Circuits), is pleased to announce that it has been awarded
£10.38 million funding over the next three years from the UK Space Agency for
a development project under its Connectivity in Low Earth Orbit ("C-LEO")
programme (the "Project").

 

EnSilica put forward in its application a compelling business case supported
by letters of interest from potential lead customers to develop a family of
semiconductor chips to support future generations of best-in-class, highly
integrated, mass market satellite broadband user terminals. The terminals will
be capable of connecting with various satellite constellations and will
leverage advanced semiconductor technology. In addition, the Project will
provide a resilient and secure source of chips which is independent and not
tied to specific satellite service operators. Example target constellations
include OneWeb and IRIS2, the planned European Union multi-orbit
constellation.

 

The market potential for satellite user terminals is growing rapidly, as
demonstrated by Starlink, and is projected to reach c. US$16.5 billion by
2031(1). Each terminal requires hundreds of specialist chips to create an
electronically steerable antenna.

 

The cornerstone funding from the UK Space Agency followed a competitive
application process and will fund up to half the cost of the overall Project.
Payments will be made against milestones achieved over the three-year Project
duration. The funding will enable EnSilica to secure partners and customers to
deliver and commercially exploit the Project.

 

The UK Space Agency's C-LEO programme was launched last year and is designed
to ensure that the UK space sector remains competitive in the rapidly evolving
global market for LEO constellations. With a total funding pool of up to £160
million available over the next four years, the C-LEO programme supports the
development of smarter satellites, enhanced hardware, AI-driven data delivery,
and improved inter-satellite connections.

 

This new Project builds on EnSilica's successful history of collaboration with
the UK Space Agency and the European Space Agency, alongside other key
satellite communications partnerships and the Company's own investment in the
technology.

 

Ian Lankshear, CEO, commented:

 

"We are honoured and proud to have won this highly significant award from the
UK Space Agency under the C-LEO programme, as we believe satellite
communications is an incredibly important sector for EnSilica and one that is
fast expanding globally.

 

This funding will enable us to advance our technology and bring innovative
solutions to the satellite broadband market, with the project expected to be
hugely beneficial to society, offering resilient internet connectivity in
times of crisis, as well as providing high speed internet connectivity in
remote communities not well served by terrestrial networks.

 

We welcome the ongoing support from the UK Space Agency, which provides the
framework for EnSilica to develop the technology required to address a market
worth many hundreds of millions."

 

(1)
https://growthmarketreports.com/report/satellite-communication-terminal-market-global-industry-analysis

 

For further information please contact:

 

 EnSilica plc                                                        via Vigo Consulting

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

 Kristoff Rademan, Chief Financial Officer

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

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

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

 Joscelin Pinnington / Tony Quirke (Sales & Corporate Broking)

 Singer Capital Markets, Joint Broker

 Rick Thompson / Asha Chotai                                         +44 (0)20 7496 3000

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

                                                                   (mailto:visum@vigoconsulting.com)
 Jeremy Garcia / Kendall Hill / Anna Stacey

 

The person responsible for arranging release of this announcement on behalf of
the Company is Ian Lankshear, Chief Executive Officer.

 

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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