Last checked at 22 May 2023 07:00
Prior to publication, the information contained within this announcement was deemed by the group to constitute inside information for the purposes of regulation 11 of the market abuse (amendment) (EU exit) regulations 2019/310. With the publication of this announcement, this information is now considered to be in the public domain.
22 May 2023
EnSilica plc
("EnSilica", the "Company" or the "Group")
Additional automotive ASIC supply mandate
Existing automotive ASIC to be incorporated into additional vehicle models
EnSilica, a leading chip maker of mixed signal ASICs (Application Specific Integrated Circuits), is pleased to announce that its ASIC used in the automotive vehicle launched in June 2022 (as announced by EnSilica on 21 June 2022) is now being designed into additional models by the premium automotive company.
The initial contract saw EnSilica design and supply an ASIC for a flagship vehicle model by a premium automotive manufacturer. The ASIC delivers key differentiating features in the chassis control of the vehicle.
From 2025, the ASIC will be included in additional vehicle models in the manufacturer's range, including their new range of electrical vehicles. Accordingly, revenue from supply of the ASIC is anticipated to be approximately $40 million over the next 6 years, reflecting the expected material increase in supply starting in 2025.
Management expects to start seeing the additional revenues from this increased demand in FY 2025, further strengthening the Group's forward order book.
Ian Lankshear, Chief Executive Officer of EnSilica plc, commented:
"We are delighted to have extended demand of this innovative mixed signal ASIC into new vehicle models, which will significantly increase the forecast volumes for this device. This not only further establishes our ASIC business model but also highlights the tangible benefit that can be created for our customers as they seek to leverage our ASICs to differentiate their end products."
For further information please contact:
EnSilica plc Ian Lankshear, Chief Executive Officer www.ensilica.com
| Via Vigo Consulting +44 (0)20 7390 0233 |
Allenby Capital Limited, Nominated Adviser & Broker Jeremy Porter / Vivek Bhardwaj (Corporate Finance) Joscelin Pinnington/Tony Quirke (Sales & Corporate Broking)
| +44 (0)20 3328 5656 info@allenbycapital.com |
Vigo Consulting (Investor & Financial Public Relations) Jeremy Garcia / Kate Kilgallen | +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 India and Brazil.