Everspin Signs Contract to Provide MRAM IP, Design and Manufacturing Services for Strategic Radiation Hardened FPGA Technology

Chandler, AZ -- October 19, 2022 – Everspin Technologies, Inc. (NASDAQ:MRAM), the world’s leading developer and manufacturer of Magnetoresistive Random Access Memory (MRAM) persistent memory solutions, has signed a contract to provide MRAM technology, design, and back end of line manufacturing services with QuickLogic Corporation (NASDAQ:QUIK). The initial award is potentially valued at $2.8M, with subsequent options bringing the total to approximately $8.7M. This is part of an award to develop and demonstrate Strategic Radiation Hardened (SRH), high reliability Field Programmable Gate Array (FPGA) technology to support identified and future Department of Defense (DoD) strategic and space system requirements. This project is sponsored by DoD’s Trusted and Assured Microelectronics (T&AM) Program.

Everspin MRAM IP and technology have been utilized for over 10 years in strategic radiation hardened and space applications. Everspin will extend its traditional market of discrete MRAM designs by collaborating with QuickLogic and integrating MRAM directly into the FPGA product. “Spin-transfer Torque MRAM technology is an ideal candidate for radiation hard FPGA devices due to its persistence and inherent radiation immunity, said Sanjeev Aggarwal, President & CEO of Everspin. “We are excited to work with the other partners on this program to develop reconfigurable, FPGA technology for use in harsh environments.”

"QuickLogic is pleased to collaborate with Everspin,” said Brian Faith, President & CEO of QuickLogic. “Everspin’s demonstrated heritage in providing robust MRAM technology and products makes them an ideal company to partner with for such a critical project.”

About Everspin Technologies

Everspin Technologies, Inc. is the world’s leading provider of Magnetoresistive RAM (MRAM). Everspin MRAM delivers the industry’s most robust, highest performance non-volatile memory for Industrial IoT, Data Center, Automotive, and other mission-critical applications where data persistence is paramount. Headquartered in Chandler, Arizona, Everspin provides commercially available MRAM solutions to a large and diverse customer base. For more information, visit www.everspin.com.