Last checked at 30 Aug 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.
30 August 2023
EnSilica plc
("EnSilica", the "Company" or the "Group")
New lead customer secured for EnSilica's Satellite Broadband Chip worth €2.5 million
EnSilica (AIM: ENSI), a leading chip maker of mixed signal ASICs (Application Specific Integrated Circuits), is pleased to announce that it has secured a contract worth €2.5m with a lead customer for EnSilica's proprietary satellite broadband chip (the "Contract"). The Contract provides the customer with early access to the satellite broadband chip and an order for EnSilica for the first 50,000 chips. The Customer is a vendor of user terminals for SatCom on-the-Move (SOTM) applications, using EnSilica's chips to address the next generation of mass market satellite broadband user terminals.
Funding of €5m for the development phase of the satellite broadband chip was announced by EnSilica on 17 February 2023, which was provided under the framework of the European Space Agency's Advanced Research in Telecommunications Systems Core Competitiveness programme, with the support of the UK Space Agency.
This chip will enable the next generation of low-cost, low-power satellite broadband user terminals. This type of component is a key enabler for user terminals operating with low earth orbit satellite systems. User terminals track the relative movement of the satellites, allowing users to access high-capacity connectivity in a very wide range of use cases, including automotive, maritime and aerospace connectivity, as well as connectivity for rural households.
Ian Lankshear, Chief Executive Officer of EnSilica plc, commented:
"With the satellite broadband communications market a key growth driver for our business, we are delighted to have a lead customer adopting our innovative semiconductor solution for their next generation of satellite broadband user terminals.
Given the high number of chips per antenna, and the millions of users that could adopt these services, the potential growth within this market could be significant for our business across the medium term."
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 of delivering high quality solutions to demanding industry standards. The Company is headquartered near Oxford, UK and has design centres across the UK, in Bangalore, India and in Port Alegre, Brazil.