REG - EnSilica PLC - Oriole Networks Selects EnSilica as ASIC Partner

EnSilicaAnnouncement

11/11/2024 07:00

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RNS Number : 6274L  EnSilica PLC  11 November 2024

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

 

11 November 2024

 

EnSilica plc

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

 

Oriole Networks Selects EnSilica as ASIC Partner

and

Contract Award for Photonics Controller ASIC

 

EnSilica, a leading chip maker of mixed signal ASICs (Application Specific
Integrated Circuits), is pleased to announce that it has been selected by
Oriole Networks Ltd ("Oriole"), a developer of artificial intelligence ("AI")
optimisation technology, as its ASIC partner. EnSilica has also been awarded a
contract for the design and supply of Oriole's Photonics Controller ASICs to
be used in its optical network switch products (the "Contract").

 

Oriole is pioneering the use of optical switching to create the fastest and
most energy efficient networks. This innovative approach is accelerating the
next generation of machine learning in high-performance computers and data
centres. The UK startup has raised $35 million in the past 12 months from
investors including Plural, UCL Technology Fund, XTX Ventures, Clean Growth
Fund, and Dorilton Ventures.

 

EnSilica was selected due to its relevant mixed signal design experience,
proven intellectual property ("IP"), and a track record of bringing chips to
volume production.

 

The Contract commences this month with material non-recurring engineering
revenues, these revenues falling into EnSilica's current and next financial
years, underpinning current consensus market expectations.

 

Ian Lankshear, Chief Executive Officer of EnSilica, commented:

 

"We are excited to be working with Oriole which has a compelling offering,
allowing them to secure significant funding for their highly disruptive
technology. The technology allows good re-use of EnSilica's existing IP, and
the future supply potential for this ASIC is very exciting."

 

James Regan, Chief Executive Officer of Oriole, commented:

 

"We are pleased to partner with EnSilica, whose expertise in mixed signal ASIC
design and proven track record in volume production align perfectly with our
needs. Our optical switching technology is set to revolutionise
high-performance computing and data centres by significantly reducing energy
consumption and enhancing speed. This partnership of two UK companies will
accelerate our mission to create the fastest and most energy-efficient
networks, driving the next generation of machine learning applications."

 

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

 

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.

 

About Oriole Networks

 

Oriole Networks is pioneering the use of optical switching to create the
fastest and most energy-efficient network. This innovative approach is
accelerating the next generation of machine learning in high-performance
computers and data centres. Founded in 2023 by UCL scientists, Oriole Networks
leverages 20 years of optical networking and machine learning IP developed at
University College London. The company has raised significant funding to
support its mission of revolutionising high-performance computing and data
centres.

 

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