IOTS Adesto Technologies Corporation

Adesto Technologies (NASDAQ:IOTS), a leading provider of application-specific, ultra-low power non-volatile memory products, today announced it has signed an agreement with TPSCo (TowerJazz Panasonic Semiconductor Company), the leading analog foundry in Japan, to manufacture Adesto’s 45nm CBRAM products at TPSCo’s 300mm Hokuriku, Japan fabrication facility.

“This agreement is a major milestone for Adesto and resistive RAM technology,” said Narbeh Derhacobian, chief executive officer of Adesto. “Adding 45nm production with TPSCo is an important step forward to unlocking the full advantages of CBRAM technology and will enable development of new families of products and expanded market opportunities. We’re eager to work with TPSCo’s comprehensive range of foundry solutions to help us ramp our next-generation CBRAM products.”

Scaling CBRAM to 45nm offers multiple advantages, including benefits in speed, power consumption and memory capacity.  “Adesto’s commercially available CBRAM products today already operate at lower voltage, write more than 50x faster and consume 5x less energy as compared to standard non-volatile memories,” said Ishai Naveh, vice president of Marketing at Adesto. “But we believe emerging IoT, mobile and energy-harvesting applications demand a new paradigm for performance and ultra-low energy use. At 45nm, customers can leverage CBRAM’s advantages and optimize for energy, speed and the ability to execute-in-place.  This aligns well with requirements for IoT, wearable, and other long-life battery devices, some of which we believe will be designed to operate for years without a battery change.”

Today, Adesto manufactures its CBRAM products using a 130nm process at Altis Semiconductor. The addition of the 45nm node option for CBRAM will allow Adesto to manufacture devices with additional logic and intelligence, including support for standard foundry IP.  This benefit is possible since the digital component of CBRAM devices at 45nm is more than 20x smaller than standard Flash devices providing additional design area to add premium features.

”Adesto’s innovative memory opens the door to new capabilities and provides IoT designers significant freedom to realize their performance and energy consumption goals,” said Guy Eristoff, chief executive officer of TPSCo. “We are excited to enable Adesto in addressing the needs of this growing market segment as Gartner forecasts that 6.4 billion connected things will be in use worldwide in 2016, up 30 percent from 2015, and will reach 20.8 billion by 2020.”

The companies anticipate an approximate two-year ramp to bring up CBRAM technology in its new fab.

About Adesto Technologies Corporation

Adesto Technologies (NASDAQ:IOTS) is a leading provider of application-specific, ultra-low power non-volatile memory products. The company has designed and built a portfolio of innovative products with intelligent features to conserve energy and enhance performance including Fusion Serial Flash, DataFlash® and products based on Conductive Bridging RAM (CBRAM®) technology. CBRAM® is a breakthrough technology platform that enables 100 times less energy consumption than today’s memory technologies without sacrificing speed and performance. Adesto is focused on delivering differentiated solutions and helping its customers usher in the era of the Internet of Things.

About TowerJazz Panasonic Semiconductor Co.

TowerJazz Panasonic Semiconductor Co., Ltd. (TPSCo) was established by Panasonic Corporation (NASDAQ:PCRFY) (TYO:6752), 51% of which was acquired by Tower Semiconductor Ltd. (NASDAQ:TSEM) (TASE:TSEM) and 49% of which is now held by Panasonic Semiconductor Solutions Co., Ltd. TPSCo has three manufacturing facilities in Hokuriku, Japan which have been producing large scale integrated circuits for over 30 years. Areas of process technology focus include: high dynamic range image sensors (CIS and CCD), integrated power devices (BCD, SOI, and LDMOS) and high frequency silicon RFCMOS. With over 120 qualified silicon process flows on 200mm and 300mm wafers from super micron to 45nm as well as internal back end processing, assembly and test services, TPSCo provides both IDMs and fabless companies with unparalleled semiconductor manufacturing quality and technology, including in-house turnkey services. For more information, please visit www.tpsemico.com.

Forward looking Statements

The statements in this release regarding Adesto’s market opportunities and product development, future demands of the IoT industry, and the timeframe required to bring up CBRAM technology in its new fab are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause our actual results to differ materially, including, but not limited to: market adoption of Adesto’s CBRAM-based products; Adesto’s limited operating history; unforeseen difficulties in migrating Adesto’s proprietary CBRAM technology platform to a new foundry, which risks may be exacerbated by Adesto’s limited history with prior migrations;  Adesto’s rate of growth; Adesto’s ability to predict customer demand for uts existing and future products and to secure adequate manufacturing capacity; Adesto’s ability to manage its growth; Adesto’s ability to hire, retain and motivate employees; the effects of competition, including price competition; technological, regulatory and legal developments; and developments in the economy and financial markets.  For detailed discussion of these and other risk factors, please refer to Adesto’s filings with the Securities and Exchange Commission, including the final prospectus related to our initial public offering, which are available on its investor relations Web site (ir.adestotech.com) and on the SEC's Web site (www.sec.gov). All information provided in this release and in the attachments is as of February 25, 2016, and stockholders of Adesto are cautioned not to place undue reliance on our forward-looking statements, which speak only as of the date such statements are made. Adesto does not undertake any obligation to publicly update any forward-looking statements to reflect events, circumstances or new information after this February 25, 2016 press release, or to reflect the occurrence of unanticipated events.

Adesto Technologies Company Contact:
David Viera
Director, Corporate Communications
408-419-4844
david.viera@adestotech.com

Adesto Technologies Investor Relations:
Shelton Group
Matt Kreps, Managing Director
P: 214-272-0073
Leanne K. Sievers, Executive Vice President
P: 949-836-4276
E: sheltonir@sheltongroup.com