REG - EnSilica PLC - Shipment Milestone of 5 Million Automotive ASICs

EnSilicaAnnouncement

10/09/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240910:nRSJ4883Da&default-theme=true

RNS Number : 4883D  EnSilica PLC  10 September 2024

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

 

10 September 2024

 

EnSilica plc

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

 

Shipment Milestone of Five Million Automotive ASICs for use in a Premium
Vehicle

 

EnSilica, a leading chip designer of mixed signal ASICs (Application Specific
Integrated Circuits), is pleased to announce that it has now shipped five
million ASICs for use in the chassis control unit of a leading automotive
company's premium vehicle, a key delivery milestone for the Company.

 

The ASIC design and supply contract was first secured in 2018 for use in the
premium automotive manufacturer's flagship vehicle model launched in June 2022
(as announced by EnSilica on 21 June 2022). The ASIC has since been included
in additional models (as announced on 22 May 2023) which will commence
production in 2025, and will be a key component of the manufacturer's new
range of electrical vehicles. The estimated revenue from the supply of this
ASIC is anticipated to be approximately $40 million over a 6-year lifetime.

 

The ASIC delivers key differentiating features in the chassis control of the
vehicle and meets the most demanding automotive functional safety and
qualification standard. There are multiple EnSilica ASICs per vehicle.

 

Ian Lankshear, Chief Executive Officer of EnSilica, commented:

 

"Shipping five million automotive ASICs for a demanding automotive application
is a significant milestone for EnSilica. Not only does this demonstrate that
our design and supply chain capabilities are truly world-class, but it's also
a prime example of the trusted long-term customer relationships that EnSilica
continues to develop due to the quality of our people, products and services.

 

We announced last year that the ASIC is forecast by the customer to deliver
higher volumes than initially estimated when the contract was awarded in 2018
and therefore the real benefit of these additional volumes is still to come
and will be seen in 2025 when the new car models are released.

 

This is a great example of how the fabless business model provides long-term
visibility of recurring revenues, and, with the ASIC being used in the
manufacturer's new electric vehicles range, also highlights the critical role
ASICs and therefore EnSilica will continue to play in the global energy
transition."

 

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

 

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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDLLMFTMTBMBPI