REG - Sondrel (Holdings) - Delivery of prototypes for three ASIC projects

Sondrel (Holdings)Announcement

21/09/2023 07:00

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RNS Number : 1315N  Sondrel (Holdings) plc  21 September 2023

21 September 2023

 

Sondrel (Holdings) plc

("Sondrel", the "Company" and together with its subsidiaries the "Group")

 

Delivery of prototypes for three ASIC projects

 

Sondrel (Holdings) plc (AIM: SND), the fabless semiconductor business
providing turnkey services in the design and delivery of 'application specific
integrated circuits' ("ASICs") and 'system on chips' ("SoCs") for leading
global technology brands, is pleased to provide an update on three of its ASIC
projects.

 

Separate from the Company's announcement on 31 August 2023, which notified
delays in the anticipated chip development and production for next generation
new engagements for three major ASIC customers, the Company is pleased to
provide an update on three existing contracted ASIC projects in progress (the
"Projects").

 

The Projects relate to an edge AI ASIC, a home network ASIC, and a controller
ASIC for smartphone cameras and the Company previously announced the
successful tapeouts of each of these ASIC design Projects in January 2023,
March 2023 and May 2023 respectively.

 

Prototypes of the silicon for each of the Projects have now been delivered to
the customers in line with the Group's roadmap to production and are now
progressing through validation and qualification. The Projects all remain on
schedule for the release to production.

 

Graham Curren, Chief Executive Officer of Sondrel, commented:

 

"The delivery of the prototypes for these Projects demonstrates our ongoing
work with customers as each device moves towards production, and to generating
recurring production revenues after the initial design revenue.

 

As previously announced, the combined customer production volume forecasts for
these ASIC projects alone now totals US$170m and gives us confidence in our
medium-term ambition to reach over £100m in revenue. We look forward to
updating investors as we make continued progress in the months ahead."

 

Ends

 

For further information:

 

 Sondrel (Holdings) plc                                        Via Buchanan
 Graham Curren, CEO                                            Tel: +44 (0) 20 7466 5000
 Nick Stone, Interim CFO

 Cavendish Securities plc                                      Tel: +44 (0) 20 7220 0500
 Ben Jeynes / Katy Birkin / George Lawson - Corporate Finance
 Michael Johnson - Sales

 Buchanan Communications                                       Tel: +44 (0) 20 7466 5000
 Chris Lane                                                    sondrel@buchanan.uk.com

 Stephanie Whitmore
 Jack Devoy
 Abby Gilchrist

 

About Sondrel

Sondrel is a UK-based fabless semiconductor company specialising in high end,
complex digital Application Specific Integrated Circuits (ASICs) and System on
Chips (SOCs). It provides a full turnkey service in the design, prototyping,
testing, packaging and production of ASICs and SoCs.

 

The Company is one of only a few companies capable of designing and supplying
the higher-spec chips built on the most advanced semiconductor technologies,
selling into a range of hyper growth end markets such as high-performance
computing, automotive, artificial intelligence, VR/AR, video analytics, image
processing, mobile networking and data centres.  Sondrel designs have enabled
products by leading technology brands including Apple (iPhone), Sony
(PlayStation), Meta's (Oculus), Samsung, Google and Sony smartphones, JVC
(prosumer camcorders), Tesla and Mercedes-Benz cars.

 

Sondrel is well-established, with a 20-year track record of successful
delivery, supported by long standing ecosystem partnerships including Arm,
TSMC and Samsung. Headquartered in the UK, Sondrel has a global presence with
offices in UK, USA, China, India and Morocco.

 

For more information please visit: www.ir.sondrel.com
(http://www.ir.sondrel.com/) .

 

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