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
Ian Lankshear, Chief Executive
Officer
Kristoff Rademan, Chief Financial
Officer
www.ensilica.com
|
via Vigo Consulting
+44 (0)20 7390 0233
|
|
Allenby
Capital Limited, Nominated Adviser & Joint
Broker
Jeremy Porter / Vivek Bhardwaj (Corporate
Finance)
Joscelin Pinnington / Tony Quirke (Sales &
Corporate Broking)
|
+44 (0)20 3328 5656
info@allenbycapital.com
|
|
Singer Capital
Markets, Joint Broker
Rick Thompson / Asha Chotai
|
+44 (0)20 7496 3000
|
|
Vigo
Consulting (Investor & Financial Public
Relations)
Jeremy Garcia / Kendall Hill
|
+44 (0)20 7390 0233
ensilica@vigoconsulting.com
|
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.