EnSilica PLC Shipment Milestone of 5 Million Automotive ASICs

RNS Number : 4883D

EnSilica PLC

10 September 2024

 

The information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the UK Market Abuse Regulation

 

10 September 2024

 

EnSilica plc

("EnSilica", the "Company" or the "Group")

 

Shipment Milestone of Five Million Automotive ASICs for use in a Premium Vehicle

 

EnSilica, a leading chip designer of mixed signal ASICs (Application Specific Integrated Circuits), is pleased to announce that it has now shipped five million ASICs for use in the chassis control unit of a leading automotive company's premium vehicle, a key delivery milestone for the Company.

 

The ASIC design and supply contract was first secured in 2018 for use in the premium automotive manufacturer's flagship vehicle model launched in June 2022 (as announced by EnSilica on 21 June 2022). The ASIC has since been included in additional models (as announced on 22 May 2023) which will commence production in 2025, and will be a key component of the manufacturer's new range of electrical vehicles. The estimated revenue from the supply of this ASIC is anticipated to be approximately $40 million over a 6-year lifetime.

 

The ASIC delivers key differentiating features in the chassis control of the vehicle and meets the most demanding automotive functional safety and qualification standard. There are multiple EnSilica ASICs per vehicle.

 

Ian Lankshear, Chief Executive Officer of EnSilica, commented:

 

"Shipping five million automotive ASICs for a demanding automotive application is a significant milestone for EnSilica. Not only does this demonstrate that our design and supply chain capabilities are truly world-class, but it's also a prime example of the trusted long-term customer relationships that EnSilica continues to develop due to the quality of our people, products and services.

 

We announced last year that the ASIC is forecast by the customer to deliver higher volumes than initially estimated when the contract was awarded in 2018 and therefore the real benefit of these additional volumes is still to come and will be seen in 2025 when the new car models are released.

 

This is a great example of how the fabless business model provides long-term visibility of recurring revenues, and, with the ASIC being used in the manufacturer's new electric vehicles range, also highlights the critical role ASICs and therefore EnSilica will continue to play in the global energy transition."

 

For further information please contact:

 

EnSilica plc Ian Lankshear, Chief Executive Officer Kristoff Rademan, Chief Financial Officer www.ensilica.com	via Vigo Consulting [phone]
Allenby Capital Limited, Nominated Adviser & Joint Broker Jeremy Porter / Vivek Bhardwaj (Corporate Finance) Joscelin Pinnington / Tony Quirke (Sales & Corporate Broking)	[phone] [e-mail]
Singer Capital Markets, Joint Broker Rick Thompson / Asha Chotai	[phone]
Vigo Consulting (Investor & Financial Public Relations) Jeremy Garcia / Kendall Hill	[phone] [e-mail]

 

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.

 

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