Last checked at 13 Sep 2023 07:00
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK Market Abuse Regulation
13 September 2023
EnSilica plc
("EnSilica", the "Company" or the "Group")
EnSilica awarded sensor ASIC supply contract for the e-mobility market worth in excess of US$7 million
EnSilica, a leading chip maker of mixed signal ASICs (Application Specific Integrated Circuits), is pleased to announce that it has been awarded an ASIC supply contract for a sensor ASIC to address the e-mobility market (the "Contract").
The Contract is for the design and supply of a mixed signal sensor ASIC for the e-mobility market encompassing electric vehicles (EVs), electric two wheelers, e-bikes, and e-scooters. Based on the volume commitments by the customer, the Contract will be worth in excess of US$7 million over the first five years of supply.
The majority of the NRE (non-recurring engineering) design element of the Contract will be completed in this financial year and will be fully funded by the customer. Production, manufacturing and supply is expected to begin in the middle of 2025 and run for at least five years.
The global e-mobility market is projected to grow at a compound annual growth rate of just over 14 percent from 2023 to 2030, growing from $130 billion to reach approximately $325 billion by 2030[1]. This rise in demand has prompted significant innovation across the sector to improve range, safety features, and ride experience. To remain competitive, many component manufacturers are opting to develop ASICs to differentiate their products, representing a significant growth opportunity for custom ASIC design specialists like EnSilica.
Ian Lankshear, Chief Executive Officer of EnSilica plc, commented:
"We are pleased to announce this new supply contract in a key growth market undergoing significant innovation and adoption globally. The technological demands across the e-mobility market are similar to those of the automotive market, and we look forward to capitalising on our proven automotive expertise to further expand our market reach."
[1] https://www.grandviewresearch.com/industry-analysis/electric-mobility-market:
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)
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+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 Bangalore, India and Porto Alegre, Brazil.