REG - Sondrel (Holdings) - Successful Key Milestone Completion

Sondrel (Holdings)Announcement

09/01/2023 07:00

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RNS Number : 0155M  Sondrel (Holdings) plc  09 January 2023

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

 

9 January 2023

 

Sondrel (Holdings) plc

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

 

Successful Key Milestone Completion - Existing Edge AI ASIC project

 

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 announce that it has successfully
taped out an ASIC design (the "Project") for a leading provider of Edge AI
Hardware Accelerator solutions.

 

With the design phase of the Project completed and its tapeout confirmed, the
Company will now progress with the new product introduction and prototyping
phases of the turnkey supply services being provided to the customer, ahead of
the product being released to production thereafter.

 

Based on production volumes and lifetime currently projected by the customer,
revenues for Sondrel associated with the production and supply of the
manufactured Project ASIC would be worth in excess of US$20million to the
Company over three years.

 

The Project design contract was awarded to the Company in late 2021 and was
fully funded by the customer. Project production and supply are expected to
begin at the end of calendar year 2023.

 

Tapeout signals completion of the design phase of an ASIC and the handover of
all data to the silicon foundry which is contracted to manufacture the ASIC.
This tapeout data is used to initiate the generation of photomasks by the
foundry which are then used to produce prototype silicon wafers. These wafers
are then packaged and tested before delivery to the customer for prototype
assessment. Upon approval of the prototypes, further samples undergo
qualification and reliability testing before the product is released to
production.

 

Graham Curren, Chief Executive Officer of Sondrel, commented:

 

"Passing this key milestone underpins Sondrel's position as a leading ASIC
supplier for advanced designs. The successful tapeout of this ASIC project is
a great achievement for Sondrel and our team, with our focused business
strategy and our track record of innovation excellence again delivering
outstanding results for our customers.

 

"This complex design was completed in twelve months and will open up new
markets for our customer with its flexible, efficient and affordable approach
to Edge AI acceleration.   Sondrel looks forward to continuing to support
the customer during new product introduction, prototyping and throughout the
supply lifetime of the Project ASIC."

 

Ends

 

For further information:

 

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

 Cenkos Securities plc                                         Tel: +44 (0)20 7397 8900
 Ben Jeynes / Katy Birkin / George Lawson - Corporate Finance
 Alex Pollen / 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
(https://ir.sondrel.com/investors) .

 

 

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