Everspin Explores Domestic Trusted Manufacturing Expansion
November 21 2022 - 12:20PM
Business Wire
Everspin announced that it is working to
expand its domestic MRAM manufacturing operations and capabilities
into the State of Indiana
Everspin Technologies, Inc. (NASDAQ: MRAM), the world’s leading
developer and manufacturer of Magnetoresistive Random Access Memory
(MRAM) persistent memory solutions, announced today it is working
with state and federal government sources to secure funding to add
capacity and capabilities for MRAM trusted manufacturing.
Everspin is working to build a trusted manufacturing line in the
state of Indiana which would add capacity for Everspin’s Commercial
MRAM and increase its capability to act as a foundry for the
manufacture of Toggle and STT-MRAM. Everspin plans to work with the
local research community to enhance domestic research for MRAM
technology development, creating a Technology Development Center at
the proposed Indiana-based location. Everspin is in a unique
position to leverage its significant MRAM patent portfolio; 15 year
history of manufacturing MRAM domestically and 10 year history of
manufacturing MRAM as a BEOL foundry service for commercial and DoD
applications. Adding capacity and capability will ensure a secure
supply chain for the next phase of growth and development.
“Everspin is the sole domestic commercial manufacturer of MRAM
devices today. Expanding the capacity of MRAM manufacturing
domestically is of strategic benefit for Everspin and its
commercial and US Government partners. When funding is fully
secured, Everspin will kick off the activities to move this
exciting project forward,” says Sanjeev Aggarwal, Everspin
President & CEO.
Everspin’s MRAM manufacturing site in Chandler, Arizona will
continue operations and be the basis for technology transfer to the
incremental fab location.
About Everspin Technologies
Everspin Technologies, Inc. is the world’s leading provider of
Magnetoresistive RAM (MRAM). Everspin MRAM delivers the industry’s
most robust, highest performance non-volatile memory for Industrial
IoT, Data Center, Automotive, and other mission-critical
applications where data persistence is paramount. Headquartered in
Chandler, Arizona, Everspin provides commercially available MRAM
solutions to a large and diverse customer base.
www.everspin.com.
Cautionary Statement Regarding Forward-Looking
Statements
Statements in this press release relating to future events or
results are forward-looking statements that involve risks and
uncertainties that could cause actual results or events to differ
materially from the expectations disclosed in the forward-looking
statements, including but not limited to the Company’s ability to
obtain the necessary funding to build additional manufacturing
capacity. Actual results could differ materially from these
forward-looking statements as a result of certain risks and
uncertainties, including, without limitation, the risks set forth
under the caption “Risk Factors” in Everspin’s Annual Report on
Form 10-K for the year ended December 31, 2021 filed with the SEC
on March 3, 2022, and Everspin’s Quarterly Report on Form 10-Q for
the quarter ended September 30, 2022 filed with the SEC on November
10, 2022, as well as in Everspin’s subsequent filings with the SEC.
Any forward-looking statements made by Everspin in this press
release speak only as of the date on which they are made and
subsequent events may cause these expectations to change. Everspin
disclaims any obligations to update or alter these forward-looking
statements in the future, whether as a result of new information,
future events or otherwise, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20221121005704/en/
David Schrenk T: 916 221 1345 E: david.schrenk@everspin.com
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