REG - EnSilica PLC - US$7m e-mobility sensor ASIC supply contract win

EnSilicaAnnouncement

13/09/2023 07:15

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RNS Number : 2265M  EnSilica PLC  13 September 2023

 

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

 

 

13 September 2023

EnSilica plc

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

 

EnSilica awarded sensor ASIC supply contract for the e-mobility market worth
in excess of US$7 million

 

EnSilica, a leading chip maker of mixed signal ASICs (Application Specific
Integrated Circuits), is pleased to announce that it has been awarded an ASIC
supply contract for a sensor ASIC to address the e-mobility market (the
"Contract").

 

The Contract is for the design and supply of a mixed signal sensor ASIC for
the e-mobility market encompassing electric vehicles (EVs), electric two
wheelers, e-bikes, and e-scooters. Based on the volume commitments by the
customer, the Contract will be worth in excess of US$7 million over the first
five years of supply.

 

The majority of the NRE (non-recurring engineering) design element of the
Contract will be completed in this financial year and will be fully funded by
the customer. Production, manufacturing and supply is expected to begin in the
middle of 2025 and run for at least five years.

 

The global e-mobility market is projected to grow at a compound annual growth
rate of just over 14 percent from 2023 to 2030, growing from $130 billion to
reach approximately $325 billion by 2030( 1 ). This rise in demand has
prompted significant innovation across the sector to improve range, safety
features, and ride experience. To remain competitive, many component
manufacturers are opting to develop ASICs to differentiate their products,
representing a significant growth opportunity for custom ASIC design
specialists like EnSilica.

 

Ian Lankshear, Chief Executive Officer of EnSilica plc, commented:

 

"We are pleased to announce this new supply contract in a key growth market
undergoing significant innovation and adoption globally. The technological
demands across the e-mobility market are similar to those of the automotive
market, and we look forward to capitalising on our proven automotive expertise
to further expand our market reach."

 

( 1 )
https://www.grandviewresearch.com/industry-analysis/electric-mobility-market:

 

 

For further information please contact:

 

 EnSilica plc                                                        Via Vigo Consulting

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

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

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

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

 Joscelin Pinnington / Tony Quirke (Sales & Corporate Broking)

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

 Jeremy Garcia / Kate Kilgallen

 

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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