Sondrel (Holdings) plc Successful Key Milestone Completion (0155M)
January 09 2023 - 2:00AM
UK Regulatory
TIDMSND
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 .
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