REG - Sondrel (Holdings) - Production Order

Sondrel (Holdings)Announcement

13/11/2023 07:00

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RNS Number : 1623T  Sondrel (Holdings) plc  13 November 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 November 2023

 

Sondrel (Holdings) plc

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

 

Production Order

Maiden production order in respect of complete turnkey ASIC manufacturing
project for Edge AI ASIC

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 report that, further to the
announcement on 9 January 2023 of the tapeout of an ASIC design of a new,
state-of-the-art, Edge AI accelerator chip for a leading provider of Edge AI
Hardware Accelerator solutions, subsequent testing by the customer of the
sample chip has now been successfully completed and Sondrel has now received
its maiden production order for an ASIC chip.

This first production order, in respect of an initial production run and for a
volume in line with existing market expectations of FY23E production revenues,
is a significant endorsement of the Group's complete ASIC turnkey service
offering that takes the chip from concept right through to shipping production
silicon.

This Edge AI design will open up new markets for our customer with its
flexible, efficient and affordable approach that allows customers to drive up
performance in AI applications.

Graham Curren, Chief Executive Officer of Sondrel, commented:

"This is an important production order for Sondrel, which is a major
validation of our business model of providing complete design and ASIC supply
for our customers. This chip is a key project for our customer that will open
up new markets for them in the rapidly growing Edge AI sector. Being one of
only a few companies in Europe delivering AI chips in production, we are
excited to be a leading supplier within this growing market.

"This complex design was completed in twelve months, once again demonstrating
Sondrel's industry leading design capabilities. We look forward to supplying
chips to our customer over the next few years.

"Achieving this milestone is a significant step as we scale our business
through production 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: ir.sondrel.com (https://ir.sondrel.com/) .

 

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